HOUSTON, Sept. 11, 2012 /PRNewswire/ -- Cheniere Energy Partners, L.P. ("Cheniere Partners") (NYSE MKT: CQP) announced today that its subsidiary, Sabine Pass Liquefaction, LLC ("Sabine Liquefaction"), has entered into a partial assignment agreement and related agreements with Total Gas & Power North America, Inc. ("Total") whereby Sabine Liquefaction would progressively gain access to Total's send-out capacity and other services provided under its terminal use agreement ("Total TUA") with Sabine Pass LNG, L.P. ("Sabine Pass LNG").  These agreements will provide Sabine Liquefaction with additional berthing and storage capacity at the Sabine Pass LNG terminal that may be used to accommodate the development of a fifth liquefaction train, provide increased flexibility in managing LNG cargo loading and unloading activity starting with the commencement of commercial operations of the third liquefaction train, and permit Sabine Liquefaction to more flexibly manage its storage with the commencement of the first liquefaction train.

Under a partial assignment agreement, Sabine Liquefaction will gradually obtain access to Total's capacity, with access to 38 Bcf per year effective immediately, approximately 195 Bcf per year effective upon commercial operations of the third liquefaction train and substantially all of Total's capacity upon the start of commercial operations of a potential fifth train.  From the commencement of commercial operations of the third liquefaction train, Sabine Liquefaction will pay a monthly fee of $2.5 million to Total and from the commencement of commercial operations of a potential fifth train, Sabine Liquefaction would reimburse Total for all of its payments due to Sabine Pass LNG under the Total TUA. From the commencement of this potential fifth train, Total retains the right to unload LNG at Sabine of up to 195 Bcf per year.

"These agreements with Total make further expansion of our LNG export capabilities at the Sabine Pass LNG terminal possible as we will have access to additional capacity required to service another liquefaction train," said Charif Souki, Chairman and CEO.  "Additionally, these arrangements will enhance our flexibility for managing berthing and storage capacity at the Sabine Pass LNG terminal while allowing Total to retain some of its rights and access to the facility."

All agreements are between Sabine Liquefaction and Total and become effective on October 1, 2012.  Total will continue to be responsible for all of its payments to Sabine Pass LNG under the Total TUA, and the guarantee of Total's obligations by its ultimate parent, Total S.A., will remain in place.

Additional Information

Cheniere Partners owns 100 percent of the Sabine Pass LNG terminal located on the Sabine Pass Channel in western Cameron Parish, Louisiana.  The Sabine Pass LNG terminal has regasification and send-out capacity of 4.0 billion cubic feet per day (Bcf/d) and storage capacity of 16.9 billion cubic feet equivalent (Bcfe).  Cheniere Partners is developing a project to add liquefaction and export capabilities adjacent to the existing infrastructure at the Sabine Pass LNG terminal. As currently contemplated, the Liquefaction Project is being designed and permitted for up to four modular LNG trains, each with a nominal capacity of approximately 4.5 mtpa.  The Liquefaction Project is expected to be constructed with each LNG train commencing operations approximately six to nine months after the previous train.  In November 2011, Sabine Pass Liquefaction, LLC ("Sabine Liquefaction") entered into a lump sum turnkey contract for the engineering, procurement and construction of the first two trains of the project with Bechtel Oil, Gas and Chemicals, Inc.  Sabine Liquefaction has also entered into four long-term customer sale and purchase agreements ("SPAs") for a total of 16.0 mtpa of LNG volumes, which represents approximately 89 percent of the nominal LNG volumes.  The customers include BG Gulf Coast LNG, LLC ("BG") for 5.5 mtpa, Gas Natural Fenosa for 3.5 mtpa, KOGAS for 3.5 mtpa and GAIL (India) Ltd. for 3.5 mtpa. In addition, Sabine Liquefaction has entered into a SPA with Cheniere Marketing, LLC for up to approximately 2.0 mtpa of LNG that is produced but not already committed to third parties.  The BG and Cheniere Marketing SPAs commence with the start of LNG train one operations and the Gas Natural Fenosa SPA commences with the start of train two operations.  The KOGAS SPA commences with the start of train three operations and the GAIL (India) Ltd. SPA commences with the start of train four operations.  Cheniere Partners issued a notice to proceed to Bechtel to commence construction for the first two trains in August 2012.  Commencement of construction for the third and fourth trains is subject, but not limited, to entering into an EPC contract, obtaining financing and Cheniere Partners making a final investment decision.  Cheniere Partners has placed documentation pertaining to the Liquefaction Project, including the applications and supporting studies, on its website located at http://www.cheniereenergypartners.com.

Forward-Looking Statements

This press release contains certain statements that may include "forward-looking statements" within the meanings 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 fact, included herein are "forward-looking statements." Included among "forward-looking statements" are, among other things, (i) statements regarding Cheniere Partners' business strategy, plans and objectives, including the construction and operation of liquefaction facilities, (ii) statements expressing beliefs and expectations regarding the development of Cheniere Partners' LNG terminal and liquefaction business and (iii) statements regarding the business operations and prospects of third parties.  Although Cheniere Partners 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 Partners' 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 Partners' 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 Partners does not assume a duty to update these forward-looking statements.

SOURCE Cheniere Energy Partners, L.P.