Cheniere Energy Partners, L.P. CQP announced that it has reached a final investment decision (“FID”) regarding the construction of Train 5 for the Sabine Pass liquefaction project. The train is expected to start operating by 2018.
Sabine Pass Liquefaction, LLC – the wholly-owned subsidiary of Cheniere Energy Partners – has entered into four credit facilities to finance the construction of Train 5. The new credit facilities, which would replace the existing ones, amount to about $4.6 billion.
The project is proposed to have six liquefaction trains, each with a production capacity of 4.5 million tons per annum. The partnership added it currently has five trains under construction. Train 1 is anticipated commence operations later this year.
Cheniere Energy Partners added that it has already received approvals for Train 6. The partnership now plans on reaching a FID on receiving commercial contracts and arrange financing for the same.
The partnership holds full stake in the Sabine Pass LNG terminal. The assets included in the terminal are five 16.9 billion cubic feet equivalent (Bcfe) LNG storage tanks, two docks and vaporizers with regasification capacity of about 4.0 Bcf/d.
This wholly-owed subsidiary of Cheniere Energy, Inc. LNG also owns the Creole Trail Pipeline that connects the Sabine Pass terminal with other interstate pipelines.
Currently, Cheniere Energy Partners holds a Zacks Rank #2 (Buy).
Better-ranked players from the oil and natural gas production/pipeline industry include EQT Midstream Partners, LP EQM and Tallgrass Energy Partners, LP TEP. Both these stocks sport a Zacks Rank #1 (Strong Buy).
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