CQP Exhibit 99.1 Tender Redemption

Houston, Texas - October 16, 2012 - Cheniere Energy Partners, L.P. (“Cheniere Partners”) (NYSE MKT: CQP) announced today the initial results of the previously announced cash tender offer by its wholly owned subsidiary, Sabine Pass LNG, L.P. (“SPLNG”), relating to any and all of SPLNG's outstanding 7.25% Senior Secured Notes due 2013 (CUSIP/ISIN Nos. 785583 AA3, U8596QAA0, 785583 AC9, US785583AA33, USU8596QAA05, US785583AC98) (“Notes”) pursuant to its Offer to Purchase dated October 1, 2012 relating to the tender offer.

As of 5:00 p.m., New York City time, on October 15, 2012 (the “Early Tender Deadline”), approximately $533.6 million aggregate principal amount of the Notes (or approximately 97% percent of the outstanding principal amount of Notes) had been validly tendered and not validly withdrawn.

The time and date on or before which validly tendered Notes may be validly withdrawn expired at 5:00 p.m., New York City time, on October 15, 2012. Holders of Notes may not validly withdraw any validly tendered Notes after that time and date, except in limited circumstances where we determine additional rights are required by law.

SPLNG has elected to exercise the Early Settlement Election described in the Offer to Purchase. Holders of Notes who validly tendered and did not validly withdraw their Notes on or prior to the Early Tender Deadline will receive on October 16, 2012 (the “Early Settlement Date”) the purchase price equal to $1,073.55, plus accrued and unpaid interest, for each $1,000 principal amount of the Notes purchased. After giving effect to the purchase of Notes on the Early Settlement Date, approximately $16.4 million aggregate principal amount of the Notes will remain outstanding.

The tender offer for the Notes will expire at 12:00 midnight (meaning the end of such day), New York City time, on October 29, 2012, unless extended or earlier terminated (such date and time, as the same may be extended, the “Expiration Date”). Holders of the Notes who validly tender their Notes after the Early Tender Deadline and on or prior to the Expiration Date, and whose Notes are accepted for purchase, will receive a purchase price equal to $1,043.55, plus accrued interest, for each $1,000 principal amount of the Notes purchased, on the settlement date, which is expected to be promptly after the Expiration Date.

Credit Suisse Securities (USA) LLC is the Dealer Manager for the tender offer. Questions regarding the terms of the offer may be directed to Credit Suisse Securities (USA) LLC at (212) 325-2476 (collect) or (800) 820-1653 (toll-free) (Attention: Liability Management Group). Questions regarding tender procedures or requests for documentation may be directed to Global Bondholder Services Corporation, the Information Agent and Depositary for the tender offer, at (866) 470-4300.

SPLNG's obligations to accept any Notes tendered and to pay the applicable consideration for them are set forth solely in the Offer to Purchase and the related Letter of Transmittal. This press release does not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, or the solicitation of tenders or consents with respect to, any security. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation or sale would be unlawful. The tender offer is being made solely pursuant to the Offer to Purchase and related documents made available to holders of the Notes.

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.

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, statements regarding Cheniere Partners' business strategy, plans and objectives, including the use of proceeds from the offering, and SPLNG's ability to consummate the tender offer as well as its offering of new senior secured debt securities. 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.