• 2 minutes Oil prices going down
  • 11 minutes China & India in talks to form anti-OPEC
  • 16 minutes When will oil demand start declining due to EVs?
  • 8 hours Oil prices going down
  • 13 hours We Need A Lasting Solution To The Lies Told By Big Oil and API
  • 14 hours Another WTH? Example of Cheap Renewables
  • 3 days Bullish and bearish outlook for oil
  • 1 hour What If Canada Had Wind and Not Oilsands?
  • 1 day Trump Hits China With Tariffs On $50 Billion Of Goods
  • 3 days Rolls Royce shedding 4,600 jobs
  • 2 days When will oil demand start declining due to EVs?
  • 13 hours The Wonderful U.S. Oil Trade Deficit with Canada
  • 2 days Russia's Rosneft 'Comfortable' With $70-$80 Oil Ahead of OPEC Talks
  • 6 hours China & India in talks to form anti-OPEC
  • 3 days U.S. Cars Will No Longer Need 55mpg Fuel Efficiency By 2025.
  • 1 hour Australia mulls LNG import
  • 12 hours The Permian Mystery
  • 6 hours No LNG Pipelines? Let the Trucks Roll In
  • 1 day Gazprom Exports to EU Hit Record
The Next Stage In Perovskite Solar Development

The Next Stage In Perovskite Solar Development

Perovskite photovoltaic cells have long…

Oil Markets Unmoved By North Korea Summit

Oil Markets Unmoved By North Korea Summit

Today’s North Korea summit, and…

Cheniere Energy Partners Announces $1 Billion Debt Offering

North Sea

Today, September 11, 2017, Cheniere Energy Partners, L.P. (Ticker: CQP) announced an offering of $1.0 billion principal amount of Senior Notes due 2025.

Cheniere Partners plans to use the net proceeds to prepay a portion of the outstanding Term Loan indebtedness under its CQP Credit Facilities, according to a press release.

The CQP 2025 Notes will be secured pari passu with all existing and future senior secured indebtedness of Cheniere Partners until the drawn balance of the Term Loans under the CQP Credit Facilities is reduced to less than or equal to $1.0 billion, at which point the CQP 2025 Notes will remain senior but become unsecured.

Cheniere Energy Partners was formed by Cheniere Energy, Inc., first U.S. project to export LNG. As of April 2017, 100 cumulative LNG cargoes were exported from the Sabine Pass LNG (SPL) project according to 2017 Q2 press release. The project is developing up to 6 trains which each have a capacity of 4.5 million tons per annum of LNG.

Cheniere Energy Partners own 100 percent of the Sabine Pass LNG terminal, located in Louisiana approximately four miles from the coast. The facility has infrastructure including 5 LNG storage tanks with a combined capacity of approximately 16.9 BCFE, two marine berths that can accommodate vessels with nominal capacity of up to 266,00 cubic meters, and a 94-mile pipeline that interconnects the Sabine Pass LNG terminal with several large interstate pipelines according to the 2017 Q2 press release.

Related: The North Sea Oil Recovery Is Dead In The Water

Cheniere Energy Partners also owns a constructed a pipeline that interconnects the Corpus Christi Liquefaction Project with several inter- and intrastate natural gas pipelines. The pipeline is designed to transport 2.25 Bcf/D of feed and fuel gas required by the Corpus Christi Liquefaction Project from the existing natural gas pipeline grid.

Net income for Cheniere Energy Partners for the three and six months ended on June 30, 2017, was $46 million and $93 million respectively. This is a significant improvement from 2016 where net losses were $100 million and $175 million for the three and six-month periods. The increase in net income was primarily a result of the timing of completions of the trains and the length of each train’s operations, which allowed for greater volumes of LNG to be sold and recognized as revenue.

(Click to enlarge) 

Map Source: Cheniere Creole Trail LNG Connection

 

(Click to enlarge)

Map Source: Cheniere Corpus Christi LNG Connect

By Oil and Gas 360

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News