Exhibit 99.1
CHENIERE ENERGY, INC. NEWS RELEASE
Cheniere Announces Positive Final Investment Decision on the Corpus Christi Stage 3 Liquefaction Project
HOUSTON—(BUSINESS WIRE)— Cheniere Energy, Inc. (“Cheniere” or the “Company”) (NYSE American: LNG) announced today that its Board of Directors has made a positive Financial Investment Decision (“FID”) with respect to the 10+ million tonnes per annum of LNG Corpus Christi Stage 3 Liquefaction Project (“CCL Stage 3”) and has issued full notice to proceed to Bechtel Energy Inc. (“Bechtel”) to continue construction on CCL Stage 3, which began earlier this year under limited notice to proceed.
“Reaching FID on Corpus Christi Stage 3 represents an important milestone for Cheniere as we move forward on this significant growth project, which will strengthen our market-leading LNG infrastructure platform, provide much-needed volumes to the global LNG market by the end of 2025, and create long-term value for our stakeholders,” said Jack Fusco, Cheniere’s President and Chief Executive Officer. “I would like to recognize the Cheniere team, our financial partners, our EPC partner Bechtel and our long-term customers for their demonstrated teamwork, commitment and execution, all of which were critical elements in the successful commercialization and financing of CCL Stage 3. CCL Stage 3 is supported by a truly global portfolio of long-term customers and reflects the call for investment in natural gas infrastructure around the world to support environmental priorities and long-term energy security.”
On June 15, 2022, Cheniere’s wholly owned subsidiary, Cheniere Corpus Christi Holdings, LLC (“CCH”) closed on an amended and restated approximately $4 billion Senior Secured Term Loan due 2029 (“CCH 2029 Term Loan”), as well as an amended, extended and upsized $1.5 billion Working Capital Facility due 2027. In conjunction with the financing, Cheniere contributed its wholly-owned equity interests in Corpus Christi Liquefaction Stage III, LLC (“CCL Stage III, LLC”) to CCH, and merged CCL Stage III, LLC into Corpus Christi Liquefaction, LLC (“CCL”), a subsidiary of CCH, with CCL continuing as the surviving company. Borrowings under the CCH 2029 Term Loan are being used to fund approximately half of the total expected cost to develop, construct, and place into service CCL Stage 3, the associated pipeline expansion and other infrastructure at or near the project, and for related business purposes. The remaining costs are expected to be funded from Cheniere.
About Cheniere
Cheniere Energy, Inc. is the leading producer and exporter of liquefied natural gas (LNG) in the United States, reliably providing a clean, secure, and affordable solution to the growing global need for natural gas. Cheniere is a full-service LNG provider, with capabilities that include gas procurement and transportation, liquefaction, vessel chartering, and LNG delivery. Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the U.S. Gulf Coast, with total production capacity of approximately 45 mtpa of LNG in operation and an additional 10+ mtpa of expected production capacity under construction. Cheniere is also pursuing liquefaction expansion opportunities and other projects along the LNG value chain. Cheniere is headquartered in Houston, Texas, and has additional offices in London, Singapore, Beijing, Tokyo, and Washington, D.C.
For additional information, please refer to the Cheniere website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, filed with the Securities and Exchange Commission.
