Cheniere offers Sabine Pass LNG capacity

By OGJ editors
HOUSTON, Apr. 3 -- Cheniere Energy Inc., Houston, is offering as much as 500 MMcfd of remaining long-term capacity at its Sabine Pass LNG receiving terminal and regasification plant in Cameron Parish, La. The offer will close May 15.

Sabine Pass LNG is under construction and expected to be operational in early 2008 with an initial rated capacity of 2.6 bcfd, which would be boosted in 2009 to 4 bcfd.

Cheniere said its terminal and pipelines groups plan to spend about $3 billion over 5 years to bring online the Sabine Pass terminal and two other LNG receiving terminals and associated pipelines in Texas and Louisiana (OGJ, Apr. 3, 2006, p. 20).

Affiliates of Total SA and Chevron Corp. currently hold 1 bcfd each of reserved capacity at the Sabine Pass terminal (OGJ, Dec. 12, 2005, Newsletter). Cheniere LNG Marketing Inc. has entered into long-term terminal use agreements for 1.5 bcfd of capacity at Sabine Pass and for 1 bcfd at Cheniere's 2.6 bcfd Corpus Christi, Tex., LNG receiving terminal.

Corpus Christi LNG received construction authorization in December 2005, and Cheniere plans to start site preparation in the second quarter. The terminal is expected to be operational in 2010.

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