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Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc.

Cheniere Energy, Inc. · Sep 18, 2014 · 35 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 1
    Cheniere Energy Credit Suisse Global Credit Products Conference September 18, 2014
  2. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 2
    Summary Organizational Structure Cheniere Energy, Inc. (NYSE MKT: LNG) 84.5% Interest 100% Interest 100% Interest 100% Interest Cheniere Energy Partners Cheniere Corpus Christi Public Cheniere Energy 15.5% LP Holdings, LLC…
  3. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 3
    Projected Global LNG Demand Growth Regional LNG Import Outlook (mtpa) Europe 24 64 95 2015 2020 2030 Asia 383 Americas 268 198 21 17 24 2015 2020 2030 2015 2020 2030 Middle East/N. Africa 4 9 38 2015 2020 2030…
  4. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 4
    Chenieres LNG Export Facilities Offer Attractive Pricing for Global LNG Buyers Worldwide LNG Prices = 11% to 15% of Crude Oil /MMBtu Regional Natural Gas & LNG Prices July 2014 Example Prices 20 Henry Hub: 4.00 / MMBtu 18…
  5. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 5
    Cheniere Investments Investments under development: 30B+ Liquefaction: 9 trains 40.5 MTPA 5.5Bcf/d LNG exports 4 trains under construction; 5 trains under development Sabine Pass Liquefaction Corpus Christi Liquefaction 6 Train…
  6. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 6
    Brownfield LNG Export Project: Sabine Pass Liquefaction Utilizes Existing Assets, Trains 14 Fully Contracted, Under Construction Current Facility 1,000 acres in Cameron Parish, LA 40 ft ship channel 3.7 miles from coast 2 berths;…
  7. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 7
    LNG Sale and Purchase Agreements (SPAs) Sabine Pass Liquefaction 20 mtpa takeorpay style commercial agreements 2.9B annual fixed fee revenue for 20 years BG Gulf Coast LNG Gas Natural Fenosa Korea Gas Corporation GAIL (India)…
  8. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 8
    SPL Construction Completion Schedules Trains 14 2012 2013 2014 2015 2016 2017 2018 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54…
  9. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 9
    Sabine Pass Liquefaction Trains 1 4 Construction Train 1 Methane Cold Box Air Coolers Train 4 Compressor Train 2 Foundations Train 3 Train 4 Train 3 Compressor Deck 10 10
  10. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 10
    Sabine Pass Liquefaction Trains 1 4 Construction Train 3 Propane Condenser Framing Methane Cold Box Ethylene Cold Box Propane Condenser Foundation Compressor Area Train 4 Train 1 Air Coolers Propane Condenser…
  11. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 11
    SPL Construction August 2014 12
  12. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 12
    SPL Construction August 2014 13
  13. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 13
    Corpus Christi Liquefaction Project Proposed 3 Train Facility 1,000 acres owned and/or controlled HoustonNew Orleans 2 berths, 3 LNG storage tanks (10.1 Bcfe of storage) Corpus Christi Gulf of Mexico Key Project Attributes 45…
  14. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 14
    Corpus Christi Liquefaction SPAs SPA progress: 7.65 mtpa takeorpay style commercial agreements 1.4B annual fixed fee revenue for 20 years PT Pertamina (Persero) Endesa S.A. Iberdrola S.A. Gas Natural Fenosa Woodside Energy…
  15. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 15
    Regulatory Approvals Needed for Corpus Christi and SPL Trains 56 Corpus Christi Trains 13 FERC: Scheduling Notice received 2/2014, final EIS expected October 8, 2014, 90day federal authorization decision deadline January 6, 2015…
  16. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 16
    FERC Applications Filed for Liquefaction Projects LNG Export Projects Prefiling Date Application Date FERC Scheduling EIS / EA Scheduled Date for Recd Notice Issued EIS or EA Approval Sabine Pass Liquefaction T14 July 26, 2010…
  17. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 17
    Timeline & Milestones Target Date SPL Corpus SPL Milestone T12 T34 Christi T56 Initiate permitting process (FERC & DOE) T5 Commercial agreements T1T2 T6: 2014 EPC contract 2014/15 Financing commitments 2014 2015…
  18. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 18
    Financial 19
  19. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 19
    Chenieres Debt Summary As of September 2014 ( in millions) No Debt Cheniere Energy, Inc. B+/NR Credit Rating (NYSE MKT: LNG) S&P/Moodys Cheniere Energy Corpus Christi CQP GP Cheniere Marketing, No Debt Partners LP Holdings, LLC…
  20. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 20
    Financial Strength Demonstrated ability to raise capital, multiple options available Other Cheniere Consolidated As of June 30, 2014 CQP Energy, Inc. CEI Unrestricted cash and equivalents 0 890 890 Restricted cash and securities…
  21. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 21
    Estimated CEI EBITDA Build Up SPL Trains 16 and CCL Trains 13 5.0 3.3 4.3 CEI EBITDA ( in billions) 4.0 0.5 2.6 3.2 0.7 0.1 3.0 0.1 1.9 2.4 0.5 0.3 2.0 1.0 1.2 1.0 1.0 0.7 0.2 0.3 SPL Sales (T14) SPL CMI…
  22. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 22
    Potential Financial Profile of CEI Cheniere development of 41 MTPA of US liquefaction capacity (9 trains) is expected to lead to: EBITDA of 3.3 4.3 billion(1)(2) (unconsolidated) CEI level debt of 4 billion(3) (unconsolidated) CEI…
  23. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 23
    25
  24. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 24
    Appendix 26
  25. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 25
    Operating Assets Sabine Pass LNG Terminal (SPLNG) Creole Trail Pipeline 27
  26. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 26
    Contracted Capacity at SPLNG Third Party Terminal Use Agreements (TUAs) Longterm, 20 year takeorpay style commercial contracts 253MM annual fixed fee revenue Total Gas & Power N.A. Chevron U.S.A. Inc. Capacity 1.0 Bcf/d 1.0…
  27. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 27
    Creole Trail Pipeline In May 2013, Cheniere Partners acquired CTPL from Cheniere Energy, Inc. for 480MM, and following the sale CTPL secured a 400 million senior secured term loan facility CTPL is fully contracted with expected…
  28. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 28
    LSTK EPC Contracts with Bechtel Minimize Construction Costs and Risks Bechtel was the EPC contractor for the regasification project at the Why Bechtel Sabine Pass LNG terminal, which was constructed on time and on budget Proven…
  29. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 29
    Global LNG Supply & Demand LNG Importers - Price Indexation 2013 Global LNG Capacity: 38 Bcf/d Oil Products Algeria 2.7 2013 Global LNG Demand: 31 Bcf/d Natural Gas Norway 0.5 Japan Crude Cocktail Egypt 1 Qatar 10.1 USA 0.2…
  30. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 30
    Firm Liquefaction Capacity Additions (Bcf/d) Nameplate Liquefaction Capacity 38 Bcf/d as of YE 2013 54 Bcf/d by YE 2019 Bcf/d 3.00 2.75 Asia Pacific SPL T2, Gorgon T2, Petronas FLNG1 Atlantic Basin APLNG T2 2.50 Gladstone T1…
  31. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 31
    Multiple Local Pipeline Interconnections Provide Several Options for Access to Natural Gas Supply Cheniere Creole Trail Pipeline Trunkline Kinder Morgan Louisiana Pipeline NGPL Texas to Louisiana (bidirectional) Pine Prairie…
  32. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 32
    Cheniere Marketing SPA Example Annual Profit from 2 mtpa Volumes LNG Loaded Sabine Pass (Tbtu) 104 Assumptions LNG Delivered DES (Tbtu) 98 5/MMBtu Henry Hub Price Cash Flows 15/MMBtu LNG sales price, Sales delivered at…
  33. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 33
    Conversion of Class B and Subordinated Units Class B Units: Mandatory conversion: within 90 days of the substantial completion of Train 3 Optional conversion by a Class B unitholder may occur at any of the following times: After 83…
  34. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 34
    Pro Forma CQP Ownership (in millions) CEI CQH(3) Blackstone Public Total Common units (1) 12.0 45.1 57.1 Class B units (1) 45.3 100.0 145.3 Subordinated units (1) 135.4 135.4 General Partner 2% 6.9 6.9 6.9 192.7 100.0 45.1…
  35. Credit Suisse Global Credit Products Conference – Cheniere Energy, Inc. – slide 35
    Investor Relations Contacts Randy Bhatia: Director, Finance and Investor Relations (713) 3755479, randy.bhatiacheniere.com Christina Burke: Manager, Investor Relations (713) 3755104, christina.burkecheniere.com

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