Cheniere Energy, Inc. announced that its Board of Directors has made a positive Final Investment Decision (FID) with respect to Train 3 at Cheniere’s Corpus Christi liquefaction project (CCL Project) and plans to issue a full notice to proceed to Bechtel Oil, Gas and Chemicals, Inc. to continue construction which began in late 2017 under limited notice to proceed. This represents the first FID on new liquefaction capacity in the United States since 2015.
Cheniere’s wholly owned subsidiary, Cheniere Corpus Christi Holdings, LLC, closed on its previously announced amended credit facilities recently, and total commitments under the credit facilities have been increased to USD 6.1 bn. The amended credit facilities will be used to fund a portion of the costs of developing, constructing, and placing into service Trains 1, 2, and 3 and associated pipeline and other infrastructure at or near the CCL Project, and for related business purposes. The remaining costs of the CCL Project are expected to be funded by Cheniere under its amended Equity Contribution Agreement with Corpus Christi Holdings, and from cash flows generated by Trains 1 and 2 of the CCL Project after they are placed into service.
The CCL Project is a three Train liquefaction project under construction near Corpus Christi, Texas. Each 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 mtpa of LNG.
