Cheniere Energy to File FERC Applications for Two LNG Receiving Terminals.Energy Editors/Business Editors HOUSTON--(BUSINESS WIRE)--Dec. 17, 2003 Cheniere Energy Inc. (AMEX AMEX See: American Stock Exchange :LNG LNG (liquefied natural gas): see under natural gas. ) announced today in a presentation at the US Department of Energy's LNG Ministerial Summit in Washington, D.C., that it will submit applications to the 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. for permits to build LNG receiving facilities in 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. , La., and Corpus Christi, Texas Corpus Christi is a coastal city and the county seat of Nueces CountyGR6 in the U.S. state of Texas. It is part of the region known as South Texas. . The company plans to file both applications on Monday, Dec. 22. Charif Souki, Cheniere's chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said, "We have completed exhaustive studies for both projects, including the 13 resource reports necessary for the application, conducted vessel simulations with the pilots in both locations, completed both Front End Engineering Designs and held numerous meetings within both communities. We have selected Bechtel for the construction of both facilities. We are ready to file our applications and begin the permitting process. Every signal points to urgent needs for additional gas supplies for the U.S. We are working hard to make these two facilities operational in time for the 2007 - 2008 heating season. Both communities have been very supportive of our efforts." Each terminal is designed to have two loading docks, three 160,000 cubic meter Noun 1. cubic meter - a metric unit of volume or capacity equal to 1000 liters cubic metre, kiloliter, kilolitre metric capacity unit - a capacity unit defined in metric terms tanks and the ability to import 2.5 billion standard cubic feet per day (Bcf/day) of natural gas. Cheniere Energy Inc. is a Houston-based developer of LNG receiving terminals and a 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 E&P company. Cheniere is a 30% limited partner in Freeport LNG Development, L.P., which is developing an LNG receiving terminal in Freeport, Texas. Cheniere is also developing the two additional Gulf Coast LNG receiving terminals in Sabine Pass, La., and Corpus Christi, Texas. Cheniere conducts exploration for oil and gas in the Gulf of Mexico using a regional database of 7,000 square miles of PSTM PSTM Pre-Stack Time Migration (seismic processing) PSTM Photon Scanning Tunneling Microscopy 3D seismic data. Cheniere owns 9% of Gryphon Exploration Company, of which Warburg, Pincus Equity Partners, L.P. owns 91% after an investment of $85,000,000. Gryphon conducts exploration in the Gulf of Mexico using a regional database of 20,000 square miles of PSTM 3D seismic data. Additional information about Cheniere Energy Inc., including the materials it presented at the LNG Summit, may be found on its Web site at www.cheniere.com, by contacting the company's investor and media relations department toll-free at 888-948-2036 or by writing to: LNG@MDCGroup.com. Except for the historical statements contained herein, this news release presents forward-looking statements that involve risks and uncertainties. Although the company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Certain risks and uncertainties inherent in the company's business are set forth in the company's periodic reports that are filed with and available from the Securities and Exchange Commission. |
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