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Cheniere approves Sabine Pass Liquefaction project (USA)

Cheniere Energy Partners has made a positive final investment decision (FID) to construct the first two liquefaction trains of the Sabine Pass liquefaction project. The $5.6bn project will be funded by debt ($3.6bn) and equity ($2bn).

Cheniere Partners owns 100% of the Sabine Pass LNG terminal located in Cameron Parish, Louisiana. It has a regasification capacity of 4 Bcf/d (41.2 bcm/year) and storage capacity of 16.9 bcf (800,000 m3). Cheniere Partners is developing a project to add liquefaction and export capabilities adjacent to the existing infrastructure at the Sabine Pass LNG terminal. The liquefaction project will consist of up to four LNG trains, each with a nominal capacity of approximately 4.5 Mt/year (6.1 bcm/year). The Liquefaction Project is expected to be constructed with each LNG train commencing operations approximately six to nine months after the previous train.

In November 2011, Sabine Liquefaction entered into a lump sum turnkey contract for the engineering, procurement and construction of the first two trains of the project with Bechtel. Sabine Liquefaction has also entered into four long-term customer sales and purchase agreements for a total of 16 Mt/year (21.6 bcm/year) of LNG volumes, which represents approximately 89% of the nominal LNG volumes.

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