Freeport LNG Receives FERC Okay to Begin Construction

Cheniere Energy reports that Freeport LNG L.P. has received regulatory clearance to commence construction of its 1.5 Billion cubic feet per day (Bcf/d) liquefied natural gas receiving terminal and associated pipeline. The authorization granted by the Federal Energy Regulatory Commission is pursuant to and in accordance with Ordering Paragraph A and Environmental Mitigation Measures 1 of the Commission's Order granted June 18, 2004.

Cheniere Energy Inc. is a Houston-based developer of LNG receiving terminals and a Gulf of Mexico E&P company. Cheniere is developing Gulf Coast LNG receiving terminals near Sabine Pass in Cameron Parish, La., in which it holds a 100% ownership interest; near Corpus Christi, Texas, in which it holds a 66.7% ownership interest; and near the Creole Trail in Cameron Parish, La., in which it holds a 100% ownership interest. Cheniere is also a 30% limited partner in Freeport LNG Development, L.P., which is developing an LNG receiving terminal in Freeport, Texas. Cheniere conducts exploration for oil and gas in the Gulf of Mexico using a regional database of 7,000 square miles of PSTM 3D seismic data. Cheniere owns 9% of Gryphon Exploration Company, along with Warburg, Pincus Equity Partners, L.P. which owns 91%.