Cheniere fires start gun on construction

Cheniere project: Company gives notice to proceed

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Kathrine Schmidt

 09 August 2012 21:53 GMT

Cheniere Energy Partners has given Bechtel official notice to proceed with the construction of its first two liquifaction trains for the Sabine Pass LNG export facility, the company said Thursday.

The $5.6 billion project in Cameron Parish, Louisiana will be the first terminal to export liquefied natural gas from the continental US, with a regasification and send-out capacity of 4 billion cubic feet per day.

Bechtel Oil, Gas and Chemicals will build the first two trains.

The company is aiming for the first train to start operations as early as 2015, with the second expected to follow six to nine months later.

Cheniere is financing the venture with $2 billion of equity and $3.6 billion in debt.

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