Cheniere Partners Holdings Reports First Quarter 2014 Results

        Cheniere Partners Holdings Reports First Quarter 2014 Results

PR Newswire

HOUSTON, May 1, 2014

HOUSTON, May 1, 2014 /PRNewswire/ --Cheniere Energy Partners LP Holdings, LLC
("Cheniere Partners Holdings") (NYSE MKT: CQH) reported net income of $4.4
million, or $0.02 per common share, for the first quarter ended March 31,
2014. Results include the first distribution received from our limited
partner interests in Cheniere Energy Partners, L.P. ("Cheniere Partners") a
publicly traded limited partnership (NYSE MKT: CQP).

Our only business consists of owning Cheniere Partners common units, Class B
units and subordinated units representing an aggregate of approximately 55.9%
of the outstanding Cheniere Partners units as of March 31, 2014. We completed
our initial public offering ("IPO") in December 2013.

Cheniere Partners' Sabine Pass Liquefaction Project Update

Cheniere Partners is developing and constructing natural gas liquefaction
facilities (the "Liquefaction Project") at the Sabine Pass LNG terminal
adjacent to the existing regasification facilities through its wholly owned
subsidiary, Sabine Pass Liquefaction, LLC ("Sabine Pass Liquefaction").

Cheniere Partners continues to make progress on its Liquefaction Project,
which is being developed for up to six natural gas liquefaction trains
("Trains"), each with a nominal production capacity of approximately 4.5
mtpa. Federal Energy Regulatory Commission ("FERC") and Department of Energy
("DOE") approvals for Trains 1 through 4 have been received, and all required
regulatory applications with the FERC and DOE to develop Trains 5 and 6 have
been filed.

The Trains are in various stages of development.

  oConstruction on Trains 1 and 2 began in August 2012, and as of March 31,
    2014, the overall project for Trains 1 and 2 was approximately 63%
    complete, which is ahead of the contractual schedule. Based on Cheniere
    Partners' current construction schedule, Cheniere Partners anticipates
    that Train 1 will produce liquefied natural gas ("LNG") as early as late
  oConstruction on Trains 3 and 4 began in May 2013, and as of March 31,
    2014, the overall project for Trains 3 and 4 was approximately 27%
    complete, which is ahead of the contractual schedule. To date, soil
    stabilization has been completed and pile driving, the next critical path
    item, is underway. Cheniere Partners expects Trains 3 and 4 to become
    operational in late 2016 and 2017, respectively.
  oFor Trains 5 and 6, two LNG sale and purchase agreements ("SPAs") have
    been completed for approximately 3.75 mtpa in aggregate of LNG volumes
    that commence with the date of first commercial delivery of Train 5. In
    September 2013, the complete application with the FERC was filed. To date,
    authorization has been received from the DOE to export 503 Bcf of LNG
    volumes from Trains 5 and 6 to free trade agreement ("FTA") countries.
    Non-FTA authorization is pending.

Liquefaction Project Timeline

                                Target Date
                                Trains         Trains         Trains
                                1 & 2          3 & 4          5 & 6
                                                              Received FTA
DOE export authorization        Received       Received
                                                              Pending Non-FTA
Definitive commercial           Completed 7.7  Completed 8.3  T5: Completed
agreements                      mtpa           mtpa           T6: 2014
- 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      2015
Financing                                                     2015
- Equity                        Completed      Completed
- Debt commitments              Received       Received
FERC authorization
- FERC Order                    Received       Received       2015
- Certificate to commence       Received       Received
Issue Notice to Proceed         Completed      Completed      2015
Commence operations             2015/2016      2016/2017      2018/2019


When Cheniere Partners makes cash distributions to us with respect to our
Cheniere Partners units, we will pay dividends to our shareholders consisting
of the cash that we receive from Cheniere Partners, less income taxes and
reserves established by our Board of Directors.

Cheniere Partners Holdings owns a 55.9% limited partner interest in Cheniere
Partners, a publicly traded limited partnership (NYSE MKT: CQP). Cheniere
Partners Holdings' only business consists of owning Cheniere Partners units
and, accordingly, its results of operations and financial condition are
dependent on the performance of Cheniere Partners. Cheniere Partners owns and
operates LNG regasification facilities and, adjacent to these facilities,
currently has natural gas liquefaction facilities under construction.
Additional information is available on the Cheniere Partners Holdings website
located at

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' and Cheniere
Partners Holdings' business strategy, plans and objectives, including the
construction and operation of liquefaction facilities, (ii) statements
regarding 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 Holdings 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 Holdings' 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 Holdings' 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 Holdings does not
assume a duty to update these forward-looking statements.

(Financial Table Follows)



(in thousands, except per share data)

                                                            Three Months Ended
                                                            March 31, 2014
Equity income from investment in Cheniere Partners          $       5,084
General and administrative expense                          413
General and administrative expense—affiliate                289
Total expenses                                              702
Net income                                                  $       4,382
Net income per common share—basic and diluted               $       0.02
Weighted average number of common shares outstanding—basic  231,700
and diluted
Cash dividends declared per common share                    $       0.017



(in thousands, except share amounts)
                                                     March 31,    December 31,
                                                     2014         2013
ASSETS                                               (unaudited)
Current assets
Cash and cash equivalents                            $    463     $     —
Accounts receivable                                  —            161
Accounts receivable—affiliate                        —            70
Prepaid expenses and other                           424          —
Total current assets                                 887          231
Other non-current assets                             47           122
Total assets                                         $    934     $     353
Current liabilities
Accounts payable—affiliates                          $    44      $     —
Accrued liabilities                                  19           95
Accrued liabilities—affiliates                       209          39
Total current liabilities                            272          134
Commitments and contingencies                        —            —
Shareholders' equity
Common shares: unlimited shares authorized,          664,931      664,931
231,700,000 shares issued and outstanding
Director voting share: 1 share authorized, issued    —            —
and outstanding
Additional paid-in-capital                           (271,757)    (271,757)
Accumulated deficit                                  (392,512)    (392,955)
Total shareholders' equity                           662          219
Total liabilities and shareholders' equity           $    934     $     353

Investors: Randy Bhatia: 713-375-5479 Christina Burke: 713-375-5104
Media: Diane Haggard: 713-375-5259 

SOURCE Cheniere Energy Partners LP Holdings, LLC

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