Cheniere makes Sabine Pass LNG Train 6 FID

Cheniere makes Sabine Pass LNG Train 6 FIDImage courtesy of Cheniere

Houston-based LNG exporter Cheniere Energy has reached a final investment decision on the construction of the sixth liquefaction train at the Sabine Pass LNG facility in Cameron Parish, Louisiana.

The FID follows the company’s approval of a comprehensive capital allocation framework that will see Cheniere prioritize reinvestment of cash flows to grow its LNG platform.

Cheniere expects to generate over $9 billion of available cash through the first half of 2024.

“The capital allocation framework we announced today prioritizes continued investment in our LNG platform through new high-return growth projects, beginning with Sabine Pass Train 6, on which we have made a positive FID and have issued full notice to proceed to Bechtel,” said Jack Fusco, Cheniere’s president and CEO.

To fund a portion of the construction of Train 6 and a third LNG berth and required supporting infrastructure at the Sabine Pass liquefaction project, Cheniere Partners has entered into 5-year, $1.5 billion senior secured credit facilities with 29 banks and financial institutions in a transaction that closed on May 29, 2019.

The facilities include a $750 million delayed draw term loan and a $750 million revolving credit facility.

Cheniere further noted it has increased the run-rate production guidance to 4.7 – 5.0 mtpa per train, up from 4.4 – 4.9 mtpa per train.

The increase in run-rate production is based on the impact of production optimization, maintenance optimization, and debottlenecking projects at both the Sabine Pass and the Corpus Christi LNG projects.

Share this article

Follow LNG World News

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >

LNG Bunkering Mediterrean

The only 3-day course offering theoretical and practical training on LNG bunkering designed by the Mediterranean market leaders.   

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

FLNG World Congress 2019

2019 FLNG World Congress will bring together stakeholders across the floating liquefaction value…

read more >