Cheniere Energy Receives Federal Energy Regulatory Commission Authorization to Commence Construction on Sabine Pass LNG Receiving Terminal Expansion.HOUSTON -- Cheniere Energy, Inc. (AMEX AMEX See: American Stock Exchange :LNG LNG (liquefied natural gas): see under natural gas. ) reported today that it received Federal Energy Regulatory Commission The Federal Energy Regulatory Commission (FERC) is the United States federal agency with jurisdiction over electricity sales, wholesale electric rates, hydroelectric licensing, natural gas pricing, and oil pipeline rates. (FERC FERC Federal Energy Regulatory Commission FERC FEMA Emergency Response Capability ) authorization to commence site preparation construction activities to expand the capacity of its Sabine Pass Sabine Pass is the natural outlet of Sabine Lake into the Gulf of Mexico. It borders Jefferson County, Texas, and Cameron Parish, Louisiana. The First Battle of Sabine Pass, and the second Battle of Sabine Pass took place at Sabine Pass during the American Civil War. liquefied natural gas liquefied natural gas: see under natural gas. Liquefied natural gas (LNG) A product of natural gas which consists primarily of methane. Its properties are those of liquid methane, slightly modified by minor constituents. (LNG) receiving terminal from 2.6 billion cubic feet per day (Bcf/d) to 4 Bcf/d Through its wholly-owned limited partnership, Sabine Pass LNG, L.P. (Sabine), Cheniere commenced construction on the Sabine Pass LNG receiving terminal in March 2005. Located in western Cameron Parish, Louisiana Cameron Parish (French: Paroisse de Cameron) is the parish with the most land area in the U.S. state of Louisiana. The parish seat is Cameron and as of 2000, the population is 9,991. It is part of the Lake Charles Metropolitan Statistical Area. , initial start-up of the 2.6 Bcf/d facility is targeted for early 2008. In July 2005, Sabine submitted an application to the FERC seeking authorization to expand the terminal's capacity to 4 Bcf/d, which was approved in June 2006. The expansion is planned to be completed in 2009. Cheniere Energy, Inc. Cheniere is developing a platform of three, 100% owned LNG receiving terminal projects along the U.S. Gulf Coast. The three terminals will have an aggregate send-out capacity of 9.9 Bcf/d. Cheniere plans to leverage its terminal platform by pursuing related LNG business opportunities both upstream and downstream of the terminals. Cheniere is also the founder and holds a 30% limited partner interest in a fourth LNG receiving terminal, is a partner in an LNG shipping venture, and engages in oil and gas exploration in the shallow waters of the U.S. Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east . Cheniere is based in Houston, Texas, with offices in Johnson Bayou, Louisiana Johnson Bayou is a small community on the Gulf Coast in Cameron Parish, Louisiana, United States, named after Daniel Johnson, who came to the area in around 1790. It is located on Louisiana Highway 82, 12 miles west of Holly Beach, and 28 miles southeast, across the Sabine Pass , and Paris, France. Additional information about Cheniere may be found on the company's web site at www.cheniere.com. This press release contains certain statements that may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included herein are "forward-looking statements." Included among "forward-looking statements" are, among other things, (i) statements regarding Cheniere's business strategy, plans and objectives and (ii) statements expressing beliefs and expectations regarding the development of Cheniere's LNG receiving terminal business. Although Cheniere believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere's periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere does not assume a duty to update these forward-looking statements. |
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