Cheniere announces debt financing for Sabine Pass Train 5

Cheniere Energy Partners, L.P. has announced that Sabine Pass Liquefaction, LLC has engaged 18 financial institutions to act as Joint Lead Arrangers to assist in the structuring and arranging of up to approximately US$5.8 billion of debt facilities, including approximately US$4.6 billion of credit facilities and an approximately US$1.2 billion revolving credit facility. Sabine Pass Liquefaction will amend and upsize its existing credit facilities to increase the available commitments to fund a portion of the costs of developing, constructing, and placing into service the first five liquefaction trains of the Sabine Pass liquefaction project in Cameron Parish, Louisiana, and for general business purposes. The Sabine Pass Liquefaction Project is being designed for up to six liquefaction trains, each with nominal production capacity of approximately 4.5 million tpy.

Obtaining financing is one of the last milestones to complete before proceeding with construction of Train 5 of the Sabine Pass Liquefaction Project. Cheniere Partners expects to close the credit facilities and issue a notice to proceed to Bechtel Oil, Gasand Chemicals, Inc. for Train 5 in due course.

Cheniere Partners owns 100% 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 includes existing infrastructure of five LNG storage tanks with capacity of approximately 16.9 billion billion ft³ equivalent, two docks that can accommodate vessels with nominal capacity of up to 266 000 m³ and vapourisers with regasification capacity of approximately 4.0 billion ft³/d.

Adapted from press release by Rosalie Starling

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/30062015/cheniere-announces-debt-financing-for-sabine-pass-train-5-1011/