As reported, Cheniere's wholly owned limited partnership, Sabine Pass LNG, L.P. entered into a Terminal Use Agreement on September 2, 2004 to provide Total with LNG regasification capacity of 1 Bcf/d for a period of 20 years commencing no later than April 1, 2009.
Keith Meyer, president of Cheniere LNG, Inc., a wholly owned Cheniere subsidiary said, "Total's commitment at Sabine completes the commercial foundation for the project and keeps us on track to begin construction early next year. We are pleased to have the opportunity to be a significant part of Total's growing North American natural gas presence."
For additional information on the agreements, please refer to the Cheniere Energy, Inc. Current Report on Form 8-K filed with the Securities and Exchange Commission.
Sabine Pass LNG, L.P. received its Draft Environmental Impact Statement from FERC on August 12, 2004, and should begin construction in the first quarter of 2005. The facility is designed to process 2.6 Bcf/d of LNG.
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