Cheniere and Centrica Sign 20-Year LNG Sale and Purchase Agreement for LNG Exports from Sabine Pass

  Cheniere and Centrica Sign 20-Year LNG Sale and Purchase Agreement for LNG
                           Exports from Sabine Pass

-- Centrica contracts for approximately 1.75 mmtpa of Train 5 LNG volumes

-- Cheniere has contracted a total of 3.75 mmtpa of Train 5 LNG volumes

-- Cheniere now has commercial contracts for five trains at Sabine
Liquefaction

PR Newswire

HOUSTON, March 25, 2013

HOUSTON, March 25, 2013 /PRNewswire/ -- Cheniere Energy Partners, L.P.
("Cheniere Partners") (NYSE MKT: CQP) announced today that its subsidiary,
Sabine Pass Liquefaction, LLC ("Sabine Liquefaction"), has entered into a
liquefied natural gas ("LNG") sale and purchase agreement ("SPA") with
Centrica plc ("Centrica") under which Centrica has agreed to purchase
91,250,000 MMBtu of annual LNG volumes upon the commencement of Train 5
operations. These volumes represent approximately 1.75 million metric tons
per annum ("mmtpa"), which together with the previously announced SPA with
Total Gas & Power North America, Inc. ("Total") brings the total contracted
volume to commence with Train 5 operations to 3.75 mmtpa. Sabine Liquefaction
now has commercial contracts for five trains.

Sabine Liquefaction is currently developing six liquefaction trains, each with
expected nominal capacity of approximately 4.5 mmtpa, adjacent to the Sabine
Pass LNG terminal. Sabine Liquefaction has commenced construction of the
first two trains and expects to commence construction of the third and fourth
trains in the first half of 2013. The permitting process and preliminary
engineering have been initiated for the fifth and sixth trains.

Under the SPA, Centrica will purchase LNG on an FOB basis, under which LNG
will be loaded onto Centrica's vessels, for a purchase price indexed to the
monthly Henry Hub price plus a fixed component. The SPA has a term of twenty
years commencing upon the date of first commercial delivery for Train 5, and
an extension option of up to ten years. Deliveries from Train 5 are expected
to occur as early as 2018. The SPA is subject to certain conditions
precedent, including but not limited to Sabine Liquefaction receiving
regulatory approvals for Train 5, securing necessary financing arrangements,
making a final investment decision, and issuing a notice to proceed for Train
5.

"Centrica is an excellent addition to our customer group, becoming our sixth
customer to contract for LNG exports at Sabine Liquefaction," said Charif
Souki, Cheniere's Chairman and CEO. "Centrica serves over 11 million
households in Britain – nearly half of the country's homes. With this
contract, exports from the United States will become an important part of the
UK's overall energy supply portfolio." Souki continued, "In February 2013 we
began the mandatory NEPA pre-filing process with FERC for trains five and six,
and we anticipate filing the full application as early as September of this
year. In addition, we submitted an application to the DOE last month for FTA
and Non-FTA licenses for exports under the Total SPA. We intend to file the
license applications for exports under the Centrica SPA in the upcoming
weeks."

Centrica is a top 30 FTSE 100 integrated energy company operating
predominantly in the UK and North America. Upstream Centrica sources,
generates, processes, trades and stores energy. Downstream Centrica supplies
gas and electricity to millions of homes and businesses and offers a range of
home energy solutions and low carbon products and services. Businesses include
British Gas, which serves around 12 million homes in Britain, nearly half of
the country's homes, as well as providing energy to one million UK businesses
and Direct Energy, which has businesses in natural gas production, power
generation and distribution in North America. For further information, go to
www.centrica.com

Additional Information

Cheniere Partners owns 100 percent of the Sabine Pass LNG terminal located on
the Sabine Pass deep water shipping channel less than four miles from the Gulf
Coast. The Sabine Pass LNG terminal has regasification facilities that
include existing infrastructure of five LNG storage tanks with capacity of
approximately 16.9 billion cubic feet equivalent (Bcfe), two docks that can
accommodate vessels of up to 265,000 cubic meters and vaporizers with
regasification capacity of approximately 4.0 Bcf/d. Cheniere Partners is
developing natural gas liquefaction facilities at the Sabine Pass LNG terminal
adjacent to the existing regasification facilities (the "Liquefaction
Project"). Cheniere Partners plans to construct over time up to six natural
gas liquefaction trains ("Trains", each in sequence, "Train 1", "Train 2",
"Train 3", "Train 4", "Train 5" and "Train 6"), which are in various stages of
development. Each Train is expected to have a nominal annual capacity of
approximately 4.5 mmtpa. Cheniere Partners' wholly owned subsidiary, Sabine
Pass Liquefaction, LLC ("Sabine Pass Liquefaction"), has entered into lump sum
turnkey contracts for the engineering, procurement and construction of Train
1, Train 2, Train 3 and Train 4 with Bechtel Oil, Gas and Chemicals, Inc.
("Bechtel"). Sabine Pass Liquefaction has commenced construction of Train 1
and Train 2 and the related new facilities needed to treat, liquefy, store and
export natural gas. Construction of Train 3 and Train 4 and the related
facilities is expected to commence upon, among other things, obtaining
financing commitments sufficient to fund construction of such Trains and
making a positive final investment decision. Sabine Pass Liquefaction
recently began the development of Train 5 and Train 6 and commenced the
regulatory process in February 2013. Sabine Pass Liquefaction has also entered
into six third-party LNG sale and purchase agreements ("SPAs"). The customers
include BG Gulf Coast LNG, LLC ("BG") for 5.5 mmtpa, Gas Natural
Aprovisionamientos SDG S.A. ("Gas Natural Fenosa") for 3.5 mmtpa, Korea Gas
Corporation ("KOGAS") for 3.5 mmtpa, GAIL (India) Ltd. ("GAIL") for 3.5 mmtpa,
Total Gas & Power North America, Inc. ("Total") for 2.0 mmtpa and Centrica plc
("Centrica") for 1.75 mmtpa. In addition, Sabine Pass Liquefaction has
entered into an SPA with Cheniere Marketing, LLC ("Cheniere Marketing") for up
to 2.0 mmtpa of LNG that is produced but not already committed to third
parties. The BG and Cheniere Marketing SPAs commence with the start of Train
1 operations and the Gas Natural Fenosa SPA commences with the start of Train
2 operations. The KOGAS and GAIL SPAs commence with the start of Train 3 and
Train 4 operations, respectively, and the Total and Centrica SPAs commence
with the start of Train 5 operations. Cheniere Partners has placed
documentation pertaining to the Liquefaction Project, including the
applications and supporting studies, on its website located at
http://www.cheniereenergypartners.com.



                                    Target Date
  Milestone                         Trains 1 & 2   Trains 3 & 4   Trains 5 & 6
• DOE export authorization          Received       Received       Initiated
                                                                  Filings
• Definitive commercial agreements  Completed 7.7  Completed 8.3
                                    mmtpa          mmtpa
  - BG Gulf Coast LNG, LLC          4.2 mmtpa      1.3 mmtpa
  - Gas Natural Fenosa              3.5 mmtpa
  - KOGAS                                          3.5 mmtpa
  - GAIL (India) Ltd.                              3.5 mmtpa
  - Total Gas & Power N.A.                                        2.0 mmtpa
  - Centrica plc                                                  1.75 mmtpa
• EPC contract                      Completed      Completed      2H14
• Financing commitments                            1H13           1H15
  - Equity                          Received
  - Debt                            Received
• FERC authorization                Received       Received       2H14
  - Certificate to commence         Received       2013
  construction
• Commence construction             Completed      2013           1H15
• Commence operations               2015/2016      2016/2017      2018

Forward-Looking Statements

This press release contains certain statements that may include
"forward-looking statements" within the meanings of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
All statements, other than statements of historical facts, included herein are
"forward-looking statements." Included among "forward-looking statements" are,
among other things, (i) statements regarding Cheniere Partners' business
strategy, plans and objectives, including the construction and operation of
liquefaction facilities, (ii) statements regarding our expectations regarding
regulatory authorizations and approvals, (iii) statements expressing beliefs
and expectations regarding the development of Cheniere Partners' LNG terminal
and liquefaction business, (iv) statements regarding the business operations
and prospects of third parties, (v) statements regarding potential financing
arrangements, and (vi) statements regarding future discussions and entry into
contracts. Although Cheniere Partners believes that the expectations reflected
in these forward-looking statements are reasonable, they do involve
assumptions, risks and uncertainties, and these expectations may prove to be
incorrect. Cheniere Partners' actual results could differ materially from
those anticipated in these forward-looking statements as a result of a variety
of factors, including those discussed in Cheniere Partners' periodic reports
that are filed with and available from the Securities and Exchange Commission.
You should not place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. Other than as required under
the securities laws, Cheniere Partners does not assume a duty to update these
forward-looking statements.

SOURCE Cheniere Energy, Inc., Cheniere Energy Partners, L.P.

Contact: Investors: Christina Burke: 713-375-5104, Nancy Bui: 713-375-5280,
Media: Diane Haggard: 713-375-5259
 
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