HOUSTON—Cheniere Energy Partners LP (NYSE American: CQP) announced March 8 that Substantial Completion of Train 5 of the Sabine Pass liquefaction project in Cameron Parish, La. (SPL Project) was achieved on March 7. Commissioning has been completed and Cheniere Partners’ EPC partner Bechtel Oil, Gas and Chemicals Inc. has turned over care, custody and control of Train 5 to Cheniere Partners.
Under sale and purchase agreements with Centrica plc and Total Gas & Power North America Inc., the date of first commercial delivery is expected to occur in August 2019, upon which the term of each of these agreements commences.
Cheniere Partners and Bechtel have now declared Substantial Completion on five liquefaction trains at the SPL Project ahead of each train’s guaranteed completion date and within project budgets. With the achievement of Substantial Completion, financial results of LNG sales from Train 5 going forward will be reflected in the statement of operations of Cheniere Partners and its applicable affiliates.
Recommended Reading
NOG Lenders Expand Revolving Credit Facility to $1.5B
2024-04-30 - Northern Oil and Gas’ semi-annual borrowing-base redetermination left its reserved-based lending unchanged at $1.8 billion.
Par Pacific Asset-based Revolving Credit Bumped Up by 55%
2024-03-25 - The amendment increases Par Pacific Holdings’ existing asset-based revolving credit facility to $1.4 billion from $900 million.
Blue Racer Midstream Prices Senior Notes Offering
2024-05-15 - Net proceeds from the sale of senior notes will be used to pay off debt and other general corporate purposes.
CorEnergy Infrastructure to Reorganize in Pre-packaged Bankruptcy
2024-02-26 - CorEnergy, coming off a January sale of its MoGas and Omega pipeline and gathering systems, filed for bankruptcy protect after reaching an agreement with most of its debtors.
M4E Lithium Closes Funding for Brazilian Lithium Exploration
2024-03-15 - M4E’s financing package includes an equity investment, a royalty purchase and an option for a strategic offtake agreement.