Chadbourne & Parke said it represented the lenders in connection with the US$11.5 billion senior debt financing for the Corpus Christi LNG project.
Cheniere’s Corpus Christi LNG project is located on the La Quinta Channel on the northeast side of Corpus Christi Bay in San Patricio County, Texas. The project, when fully constructed, is expected to comprise three liquefaction trains with expected aggregate nominal production capacity of approximately 13.5 mmtpa, three full-containment LNG storage tanks with capacity of approximately 10.1 Bcfe, two LNG carrier docks and a 22-mile, 48″ natural gas supply pipeline, as well as all associated facilities. The estimated total capital cost of the project is US$15.4 billion.
The estimated total capital cost of the project is US$15.4 billion.
The US$11.5 billion debt facility is being provided by a syndicate of 31 commercial banks and other financial institutions. Approximately US$3.1 billion of equity is expected to be provided by affiliates of Cheniere Energy, following separate capital raises from EIG Global Energy Partners and other sources. The remainder of the project’s capital cost will be funded from internal cash generation.