Cheniere and Iberdrola Sign 20-Year LNG Sale and Purchase Agreement

     Cheniere and Iberdrola Sign 20-Year LNG Sale and Purchase Agreement

-- Cheniere and Iberdrola sign SPA for LNG sales from Corpus Christi

-- Iberdrola contracts for approximately 0.8 million tonnes per annum of LNG

PR Newswire

HOUSTON, May 30, 2014

HOUSTON, May 30, 2014 /PRNewswire/ -- Cheniere Energy, Inc. ("Cheniere") (NYSE
MKT: LNG) announced today that its subsidiary, Corpus Christi Liquefaction,
LLC ("Corpus Christi Liquefaction"), has entered into a liquefied natural gas
("LNG") sale and purchase agreement ("SPA") with Iberdrola, S.A. ("Iberdrola")
under which Iberdrola has agreed to purchase approximately 0.4 million tonnes
per annum ("mtpa") of LNG upon the commencement of operations of Train 1 of
the LNG export facility being developed near Corpus Christi, Texas (the
"Corpus Christi Liquefaction Project"), and increasing to approximately 0.8
mtpa of LNG upon the commencement of operations of Train 2. The Corpus Christi
Liquefaction Project is being designed and permitted for up to three trains,
with aggregate design production capacity of 13.5 mtpa of LNG.

Under the SPA, Iberdrola will purchase LNG on a free on board ("FOB") basis
for a purchase price indexed to the monthly Henry Hub price plus a fixed
component. LNG will be loaded onto Iberdrola's vessels. The term of the SPA
will extend for twenty years beyond the date of first commercial delivery of
the second train of the Corpus Christi Liquefaction Project, with an extension
option of up to ten years. Deliveries from Train 2 are expected to occur in

"Iberdrola is the first foundation customer on Train 2 of our Corpus Christi
Liquefaction Project being developed in Texas. Iberdrola is a leading European
power generation and distribution company with operations located in several
countries around the Atlantic Basin," said Charif Souki, Chairman and CEO. "To
date we have entered into SPAs aggregating approximately 3.8 mtpa of LNG
volumes. We are in advanced discussions with other counterparties and are
working towards finalizing additional agreements. We expect to complete all
necessary steps to reach a final investment decision and begin construction by
early 2015."

The SPA is subject to certain conditions precedent, including but not limited
to Corpus Christi Liquefaction receiving regulatory approvals, securing
necessary financing arrangements and making a final investment decision to
construct Train 2 of the Corpus Christi Liquefaction Project (the "Corpus
Christi FID").

Iberdrola is a Spanish energy company which generates, distributes, trades and
markets electricity and natural gas. The company is listed on the Bolsa de
Madrid and is part of the IBEX 35 index. It employs approximately 28,200
people. It is Spain's largest power company by installed capacity with total
power generation capacity of 45,000 MW worldwide. Iberdrola has access to
regasification capacity in Spain, UK and the US. Additional information about
Iberdrola may be found on its website located at

Cheniere Energy, Inc. is a Houston-based energy company primarily engaged in
LNG-related businesses, and owns and operates the Sabine Pass LNG terminal and
Creole Trail Pipeline in Louisiana. Cheniere is pursuing related business
opportunities both upstream and downstream of the Sabine Pass LNG terminal.
Through its subsidiary, Cheniere Energy Partners, L.P., Cheniere is developing
a liquefaction project at the Sabine Pass LNG terminal adjacent to the
existing regasification facilities for up to six LNG trains, each of which
will have a design production capacity of approximately 4.5 mtpa ("Sabine Pass
Liquefaction Project"). Construction has begun on LNG Trains 1 through 4 at
the Sabine Pass Liquefaction Project. Cheniere has also initiated a project to
develop liquefaction facilities near Corpus Christi, Texas. The Corpus Christi
Liquefaction Project is being designed and permitted for up to three LNG
trains, with aggregate design production capacity of up to 13.5 mtpa of LNG
and which would include three LNG storage tanks with capacity of 10.1 Bcfe and
two LNG carrier docks. Commencement of construction for the Corpus Christi
Liquefaction Project is subject, but not limited, to obtaining regulatory
approvals, entering into long-term customer contracts sufficient to underpin
financing of the project, obtaining financing, and Cheniere making a final
investment decision. We believe LNG exports from the Corpus Christi
Liquefaction Project could commence as early as 2018. Additional information
about Cheniere Energy, Inc. may be found on its website located at

                         Target Date
                         Sabine Pass Liquefaction              Corpus Christi
                         Trains     Trains      Trains
                         1 & 2      3 & 4       5 & 6
                                                T5: Received
DOE export                                      FTA            Received FTA
authorization            Received   Received                   Pending Non-FTA
Definitive commercial    Completed  Completed   T5: Completed
agreements                          8.3 mtpa                   2014
                         7.7 mtpa               T6: 2014
- BG Gulf Coast LNG,     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                             2.0 mtpa
- Centrica plc                                  1.75 mtpa
- PT Pertamina                                                 0.8 mtpa
- Endesa, S.A.                                                 2.25 mtpa
- Iberdrola, S.A.                                              0.8 mtpa
EPC contract             Completed  Completed   2015           Completed
Financing                                       2015           2014
- Equity                 Completed  Completed
- Debt commitments       Received   Received
FERC authorization
- FERC Order             Received   Received    2015           2014/2015
- Certificate to         Received   Received
commence construction
Issue Notice to Proceed  Completed  Completed   2015           2015
Commence operations      2015/2016  2016/2017   2018/2019      2018/2019

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 fact, included herein are
"forward-looking statements." Included among "forward-looking statements" are,
among other things, (i) statements regarding Cheniere's 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's LNG terminal and pipeline
businesses, including liquefaction facilities, (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 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's 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's 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 does not assume a duty to update these
forward-looking statements.


SOURCE Cheniere Energy, Inc.

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