Sabine Pass LNG export project takes step

By OGJ editors

Cheniere Energy Partners LP (CEP) has taken a step toward a final investment decision on the Sabine Pass LNG export project by entering an exclusive agreement for financing worth $2 billion.

The agreement, with Blackstone Energy Partners LP, Blackstone Capital Partners VI LP, and affiliates, is to finalize and execute definitive agreements to purchase new senior subordinated pain-in-kind units of CEP.

CEP’s pending decision covers construction of the first two of four modular liquefaction trains at its Sabine Pass terminal in Cameron Parish, La., which now has 4 bcfd of regasification and sendout capacity (OGJ Online, Dec. 20, 2011).

The company estimates cost of the first two trains, with nominal capacities of 4.5 million tonnes/year of LNG each, at $4.5-5 billion before financing costs.

It would use proceeds from the new financing for the equity portion of costs of developing, building, and placing into service the liquefaction equipment; closing the purchase of the 94-mile Creole Trail pipeline from Cheneire Energy Inc.; and other partnership business.

Related Articles

DOE approves LNG exports to non-FTA countries from Oregon project

03/24/2014 The US Department of Energy conditionally approved Jordan Cove Energy Project LP’s application to export LNG through its proposed terminal on Orego...

INGAA Foundation forecasts oil, gas infrastructure outlays to 2035

03/24/2014 An estimated $640.9 billion, or an average $29.1 billion/year, will need to be spent on US and Canadian midstream crude oil, natural gas, and natur...

Export short-sightedness

03/24/2014 Opposition by specific refiners to US exports of crude oil should surprise no one. The export ban suppresses the price of domestically produced lig...

HSC remains closed, fuel cleanup continues after barge collision

03/24/2014 The Houston Ship Channel (HSC) remained closed to unauthorized vessels Mar. 24 as the result of a temporary emergency safety zone being established...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected