Cheniere Partners Completes Financing and Commences Construction on Sabine Pass Liquefaction Trains 3 and 4, Purchases Creole

  Cheniere Partners Completes Financing and Commences Construction on Sabine
      Pass Liquefaction Trains 3 and 4, Purchases Creole Trail Pipeline

- Notice to Proceed issued to Bechtel to commence construction on Trains 3 and

- Financings complete for the first four trains of the Sabine Pass
Liquefaction Project

- Cheniere Partners purchases Creole Trail Pipeline as previously contemplated

PR Newswire

HOUSTON, May 29, 2013

HOUSTON, May 29,2013 /PRNewswire/ -- Cheniere Energy Partners, L.P.
("Cheniere Partners") (NYSE MKT: CQP) announced today that its Board of
Directors has made a positive final investment decision for the development
and construction of Trains 3 and 4 of the Sabine Pass Liquefaction Project
being developed adjacent to the Sabine Pass LNG terminal (the "Liquefaction
Project"). Cheniere Partners has issued a full notice to proceed with
construction of Trains 3 and 4 to Bechtel Oil, Gas and Chemicals, Inc.

Sabine Pass Liquefaction, LLC ("Sabine Liquefaction"), a wholly owned
subsidiary of Cheniere Partners, has closed on credit facilities totaling $5.9
billion, including a Term Loan A Credit Facility of $4.4 billion ("TLA Credit
Facility") with a syndicate of 27 joint lead arranger banks and financial
institutions and three additional credit facilities with Republic of Korea
financial institutions, The Export-Import Bank of Korea (KEXIM) and Korea
Trade Insurance Corporation (K-SURE), of $1.5 billion (the "ROK Credit
Facilities" and collectively with the TLA Credit Facility, the "Liquefaction
Credit Facilities"). These Liquefaction Credit Facilities complete the
financings needed to fund the costs of developing, constructing and placing
into service the first four liquefaction trains of the Liquefaction Project.

The Liquefaction Credit Facilities mature on May 28, 2020. Interest on the
TLA Credit Facility is LIBOR plus 300 basis points during construction and
steps up to LIBOR plus 325 basis points during operation. Under the ROK
Credit Facilities, interest includes LIBOR plus 300 basis points on the direct
portion and LIBOR plus 230 basis points on the covered portion during
construction and operation. Sabine Liquefaction will maintain interest rate
protection agreements with respect to at least 75% of the Liquefaction Credit

"We have completed all milestones to start construction on the first four
liquefaction trains being developed by Sabine Liquefaction. Construction on
Trains 1 and 2 commenced last August and is approximately 30% complete.
Construction on Trains 3 and 4 will start immediately. First LNG is expected
to be delivered by late 2015. Additionally, we expect to complete all of the
required resource reports to file an application with the FERC by September
2013 for Trains 5 and 6," said Charif Souki, Chairman and CEO. "With all that
we have accomplished in the last few years, I would particularly like to thank
our employees for all of their hard work and efforts."

Societe Generale acted as sole and exclusive financial advisor to Sabine
Liquefaction in connection with the $5.9 billion Liquefaction Credit
Facilities. Standard Chartered Bank acted as a consultant in connection with
the ROK Credit Facilities.

In addition, Cheniere Partners has completed the acquisition of the Creole
Trail Pipeline from subsidiaries of Cheniere Energy, Inc. as previously
contemplated by the Creole Trail Purchase and Sale Agreement. The Creole
Trail Pipeline is a 94-mile pipeline that will be used by the Liquefaction
Project to source domestic natural gas for processing into LNG. In connection
with the Creole Trail Pipeline purchase, a subsidiary of Cheniere Partners has
entered into a $400 million senior secured term loan facility (the "CTPL Term
Loan"). The CTPL Term Loan bears an interest rate of LIBOR plus 325 basis
points and has a maturity of four years. The proceeds of the CTPL Term Loan
will be used to fund capital expenditures to make modifications to reverse the
flow of the Creole Trail Pipeline, to fund interest during construction, and
for general business purposes.

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 million tonnes per annum ("mtpa"). 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, Train 2, Train 3, Train 4
and the related new facilities needed to treat, liquefy, store and export
natural gas. Sabine Pass Liquefaction recently began the development of Train
5 and Train 6 and commenced the regulatory process in February 2013.
Construction of Train 5 and Train 6 and the related facilities may commence
upon, among other things, obtaining regulatory approvals, obtaining financing
commitments sufficient to fund construction of such Trains and making a
positive final investment decision. 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 mtpa, Gas Natural
Aprovisionamientos SDG S.A. ("Gas Natural Fenosa") for 3.5 mtpa, Korea Gas
Corporation ("KOGAS") for 3.5 mtpa, GAIL (India) Ltd. ("GAIL") for 3.5 mtpa,
Total Gas & Power North America, Inc. ("Total") for 2.0 mtpa and Centrica plc
("Centrica") for 1.75 mtpa. In addition, Sabine Pass Liquefaction has entered
into an SPA with Cheniere Marketing, LLC ("Cheniere Marketing") for up to 2.0
mtpa 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

                                       Target Date
                                       Sabine Pass Liquefaction
                                       Trains         Trains         Trains
                                       1 & 2          3 & 4          5 & 6
DOE export authorization               Received       Received       Initiated
Definitive commercial agreements       Completed 7.7  Completed 8.3
                                       mtpa           mtpa
- BG Gulf Coast LNG, LLC               4.2 mtpa       1.3 mtpa
- Gas Natural Fenosa                   3.5 mtpa
- KOGAS                                               3.5 mtpa
- GAIL (India) Ltd.                                   3.5 mtpa
- Total Gas & Power N.A.                                             2.0 mtpa
- Centrica plc                                                       1.75 mtpa
EPC contract                           Completed      Completed      2H14
Financing commitments                                                1H15
- Equity                               Received       Received
- Debt                                 Received       Received
FERC authorization                     Received       Received       2H14
- Certificate to commence              Received       Received
Commence construction                  Completed      Completed      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 Partners, L.P.; Cheniere Energy, Inc.

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