HOUSTON, March 31, 2017 /PRNewswire/ — Cheniere Energy Partners, L.P. (“Cheniere Partners”) (NYSE MKT: CQP) today announced that Substantial Completion of Train 3 of the Sabine Pass liquefaction project in Cameron Parish, Louisiana (the “SPL Project”) was achieved on March 28, 2017. Commissioning has been completed and Cheniere Partners’ EPC partner Bechtel Oil, Gas and Chemicals, Inc. is turning over care, custody, and control of Train 3 to Cheniere Partners.
Under a sale and purchase agreement (“SPA”) with Korea Gas Corporation, the date of first commercial delivery (“DFCD”) for Train 3 of the SPL Project is expected to occur in June 2017, upon which the SPA’s 20-year term commences.
With the achievement of Substantial Completion, financial results of LNG sales from Train 3 going forward will be reflected in the statement of operations of Cheniere Partners and its affiliates.
Cheniere Partners, through its subsidiary, Sabine Pass Liquefaction, LLC (“SPL”), is developing, constructing and operating natural gas liquefaction facilities at the Sabine Pass LNG terminal adjacent to the existing regasification facilities. Cheniere Partners, through SPL, plans to construct over time up to six liquefaction trains, which are in various stages of development, construction and operations. Trains 1, 2, and 3 have achieved Substantial Completion, Train 4 is in the commissioning process, Train 5 is under construction, and Train 6 is fully permitted and being commercialized. Each liquefaction train is expected to have a nominal production capacity, which is prior to adjusting for planned maintenance, production reliability and potential overdesign, of approximately 4.5 million tonnes per annum (“mtpa”) of LNG. SPL has entered into six third-party LNG SPAs that in the aggregate equate to approximately 19.75 mtpa of LNG and commence with DFCD of Trains 1 through 5 as specified in the respective SPAs. For additional information, please refer to the Cheniere Partners website at www.cheniere.com and Form 10-K for the period ending December 31, 2016, filed with the Securities and Exchange Commission.