USA: Cheniere Launches New Credit Facilities

Cheniere Launches New Credit Facilities

Cheniere Energy Partners announced today that it will launch the syndication of two new credit facilities totaling approximately $2 billion with a bank meeting to be held on Tuesday.

The new senior secured syndicated credit facilities include approximately $750 million at Cheniere Partners and approximately $1.3 billion at Sabine Pass Liquefaction.

Net proceeds from the Cheniere Partners credit facility will be used to fund the acquisition of the Creole Trail Pipeline, to pay for pipeline improvement and modification costs, and for other general business purposes.

Net proceeds from the Sabine Pass Liquefaction credit facility will be used to fund the costs of developing, constructing and placing into service the first two liquefaction trains of the Sabine Pass LNG liquefaction project.

LNG World News Staff, May 24, 2012

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