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Cheniere LNG corporate

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Report summary

The successful start of operations at Sabine Pass has propelled Cheniere into the world's top five largest LNG producers. Four of its trains are operational and three more will start next year, including two trains at Corpus Christi. Plans to grow its US footprint include capacity expansions at both its terminals as well as investments along the value chain in new pipeline infrastructure. Its US-centric position exposes it to competition from other developers in the Gulf Coast, as well as challenges in marketing LNG on an alternative to Henry Hub. But it is also one of its strategic advantages, having access to abundant resources and the deep liquidity of the US gas market, in one of the world's most cost-competitive locations to build an LNG facility.

What's included

This report contains

  • Document

    Cheniere LNG Corporate January 2018.xlsx

    XLSX 603.60 KB

  • Document

    Cheniere LNG corporate

    PDF 493.61 KB

  • Document

    Cheniere LNG corporate

    ZIP 836.24 KB

Table of contents

  • Executive summary
    • February 2018 – CNPC SPA
    • January 2018 – Trafigura SPA
    • November 2017 – CNPC MOU
    • June 2017 – Cheniere could benefit from US-China 100-day plan
    • Liquefaction and marketing ownership structure
    • CMI Marketing
    • Financial impact to Cheniere from low utilisation is relatively small
      • Liquefaction expansion projects
      • Value chain integration
      • Refinancing
      • Sabine Pass
      • Midship pipeline
      • Corpus Christi
    • Liquefaction capacity
      • Sabine Pass - The first of a new wave of LNG export projects from the US
      • Corpus Christi
      • Corpus Christi Train 3
      • Sabine Pass Train 6
    • Corpus Christi Expansion (Phase 3)
    • Committed LNG
    • Trading revenue will be affected by international price movements
    • Low risk of GAIL contract renegotiation
    • Feedgas supply is paramount
    • LNG competition intensifying in the Gulf Coast

Tables and charts

This report includes 12 images and tables including:

Images

  • Sales contract pricing
  • Effective Liquefaction Capacity by equity (mmtpa)
  • Cheniere Shipping - Owned and Chartered
  • Cheniere Shipping Utilisation (mmcm/MT LNG)
  • Supply-demand balances: Image 1
  • Supply-demand balances: Image 2
  • Cheniere Sabine Pass Long-Term Sales (Trains 1-5)
  • Cheniere Corpus Christi Long-Term Sales (Trains 1-2)

Tables

  • SWOT analysis
  • Liquefaction projects
  • LNG assets: Table 2
  • Cheniere's sales contracts

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