Corpus Christi Train 3 Construction to Move Quickly After FID

11 June 2018: 

Cheniere Energy made the final investment decision on Corpus Christi train 3 on May 22 and construction is expected to take no more than three years, according to a Poten estimate.

The FID is the first for new US liquefaction capacity since 2015 and Cheniere’s contractor, Bechtel, had already begun construction in late 2017 under limited notice to proceed. As a result, the foundation for train 3 has already been laid, shortening the period until liquefaction begins.

Cheniere’s wholly owned subsidiary Cheniere Corpus Christi Holdings LLC closed on its amended credit facilities on May 22 with total commitments of $6.1 billion. The funding will be used on some costs of developing, building and starting up trains 1, 2 and 3 and associated pipeline and other infrastructure for the Corpus Christi project, as well as for related business purposes. Cheniere is expected to pay for the rest of the project’s costs under its amended equity contribution agreement with Corpus Christi Holdings and from cash flow generated by the first two trains after they start up.

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