Cheniere's North American LNG Gateway Program with issuance of a Request for Proposals to sell to Cheniere up to 200 cargoes per year of liquefied natural gas (LNG) for the years 2008 - 2010. Cheniere's North American LNG Gateway(TM) program will provide global LNG suppliers a direct platform to nominate cargoes into Cheniere's LNG receiving terminals starting with the Sabine Pass LNG Receiving Terminal
, which is currently under construction in Louisiana. The LNG Gateway(TM) program will be administered by the recently formed Cheniere LNG Trading & Marketing, Inc. (Cheniere LNG Marketing). Cheniere LNG Marketing will serve as purchaser of the LNG and as marketer of the natural gas to a pool of North American buyers.
Cheniere's North American LNG Gateway(TM) program will accommodate both ex-ship and FOB basis ship-by-ship sales, as well as term transactions for a period of up to three years. Producers and LNG suppliers desiring to participate are invited to review details on Cheniere's website: www.cheniere.com. There they will receive instructions on how to apply to receive a password to log-on to Cheniere's North American LNG Gateway(TM) system to make nominations.
The Sabine Pass LNG receiving terminal is being constructed in Cameron Parish, Louisiana along
the Sabine-Neches Ship Channel. It will be capable of receiving vessels of up to 250,000 cubic meters and is permitted for 2.6 billion cubic feet per day (Bcf/d) of sendout capacity in its first phase. Cheniere has filed with the Federal Energy Regulatory Commission to expand the facility's sendout to 4 Bcf/d.