EXHIBIT 99.1

CHENIERE ENERGY PARTNERS, L.P. NEWS RELEASE
Cheniere Energy Partners, L.P. Reports First Quarter 2015 Results
Houston, Texas - April 30, 2015 - Cheniere Energy Partners, L.P. (“Cheniere Partners”) (NYSE MKT: CQP) reported a net loss of $178.7 million for the three months ended March 31, 2015, compared to a net loss of $69.7 million for the same period in 2014.
Significant items for the three months ended March 31, 2015 were a loss of $126.7 million, compared to a loss of $38.3 million for the comparable 2014 period. Significant items for the three months ended March 31, 2015 related to losses on early extinguishment of debt related to the write-off of debt issuance costs by Sabine Pass Liquefaction, LLC (“SPL”) in connection with the refinancing of a portion of its credit facilities in March 2015, derivative losses due primarily to changes in long-term LIBOR during the respective periods, and development expenses primarily for the fifth and sixth natural gas liquefaction trains (“Trains”) we are developing through SPL at the Sabine Pass LNG terminal adjacent to the existing regasification facilities (the “Liquefaction Project”).

General and administrative expense (including affiliate) decreased by $5.4 million for the three months ended March 31, 2015, compared to the corresponding 2014 period, primarily due to a decrease in management fees incurred under certain management service agreements with wholly owned subsidiaries of Cheniere Energy, Inc. (“Cheniere”). SPL is required to pay monthly fees to an affiliate of Cheniere based upon the capital expenditures incurred in the previous month for construction of the first four Trains at the Liquefaction Project. Operating and maintenance expense (including affiliate) increased by $23.1 million for the three months ended March 31, 2015, compared to the corresponding 2014 period, primarily due to costs incurred in order to maintain the cryogenic readiness of the regasification facilities at the Sabine Pass LNG terminal.

Recent Significant Events

In March 2015, SPL issued an aggregate principal amount of $2.0 billion of 5.625% Senior Secured Notes due 2025. Net proceeds from the offering are being used to pay a portion of the capital costs associated with the construction of the first four Trains of the Liquefaction Project.

In April 2015, we received authorization from the Federal Energy Regulatory Commission (“FERC”) to site, construct and operate Trains 5 and 6 of the Liquefaction Project.

Liquefaction Project Update
We continue to make progress on the Liquefaction Project, which is being developed for up to six Trains, each with an expected aggregate nominal production capacity of approximately 4.5 million tonnes per annum (“mtpa”).
The Trains are in various stages of development.
Construction on Trains 1 and 2 began in August 2012, and as of March 31, 2015, the overall project completion percentage for Trains 1 and 2 was approximately 87.2%, which is ahead of the contractual schedule. Based on our current construction schedule, we anticipate that Train 1 will produce LNG as early as late 2015.

Construction on Trains 3 and 4 began in May 2013, and as of March 31, 2015, the overall project completion percentage for Trains 3 and 4 was approximately 62.6%, which is ahead of the contractual schedule. We expect Trains 3 and 4 to become operational in late 2016 and 2017, respectively.

Trains 5 and 6 are under development. We have entered into SPAs for approximately 3.75 mtpa in aggregate that commence with the date of first commercial delivery for Train 5. We have received authorizations from the U.S. Department of Energy (“DOE”) to export 503 Bcf per year of LNG volumes from Trains 5 and 6 to free trade agreement (“FTA”) countries. Authorization to export LNG to non-FTA countries is pending. In April 2015, we received FERC authorization to site, construct, and operate Trains 5 and 6.






We will contemplate making a final investment decision to commence construction of Trains 5 and 6 based upon, among other things, entering into EPC contracts, entering into acceptable commercial arrangements, receiving all regulatory approvals and obtaining adequate financing. We expect to commence construction on Train 5 upon receiving all regulatory approvals and obtaining financing followed by Train 6 upon entering into acceptable commercial arrangements and obtaining financing.

Liquefaction Project Timeline
 
 
Target Date
Milestone
 
Trains
1 - 4
 
Trains
5 & 6
DOE export authorization
 
Received
 
Received FTA
Pending Non-FTA
Definitive commercial agreements
 
Completed
16.0 mtpa
 
T5: Completed
T6: 2015
- BG Gulf Coast LNG, LLC
 
5.5 mtpa
 
 
- Gas Natural Fenosa
 
3.5 mtpa
 
 
- KOGAS
 
3.5 mtpa
 
 
- GAIL (India) Ltd.
 
 3.5 mtpa
 
 
- Total Gas & Power N.A.
 
 
 
2.0 mtpa
- Centrica plc
 
 
 
1.75 mtpa
EPC contracts
 
Completed
 
2015
Financing
 
Completed
 
2015
- Equity commitments
 
 
 
 
- Debt commitments
 
 
 
 
FERC authorization
 
Completed
 
 
- FERC Order
 
 
 
Received
- Certificate to commence construction
 
 
 
2015
Issue Notice to Proceed
 
Completed
 
2015
Commence operations
 
2015 - 2017
 
2018/2019
Distributions to Unitholders
We estimate that the annualized distribution to common unitholders for fiscal year 2015 will be $1.70 per unit.
We will pay a cash distribution per common unit of $0.425 to unitholders of record as of May 1, 2015, and the related general partner distribution on May 15, 2015.

Cheniere Partners owns 100 percent of the Sabine Pass LNG terminal located on the Sabine Pass deep water shipping channel less than four miles from the Gulf Coast. The Sabine Pass LNG terminal includes existing infrastructure of five LNG storage tanks with capacity of approximately 16.9 billion cubic feet equivalent (Bcfe), two docks that can accommodate vessels with nominal capacity of up to 266,000 cubic meters and vaporizers with regasification capacity of approximately 4.0 Bcf/d.
Cheniere Partners is developing natural gas liquefaction facilities at the Sabine Pass LNG terminal adjacent to the existing regasification facilities. Cheniere Partners plans to construct over time up to six natural gas Trains, which are in various stages of development. Each Train is expected to have a nominal production capacity of approximately 4.5 mtpa. The overall project completion percentage of Trains 1 and 2 is approximately 87.2% as of March 31, 2015. The overall project completion percentage of Trains 3 and 4 is approximately 62.6% as of March 31, 2015. Cheniere Partners is developing Trains 5 and 6 and received FERC authorization to site, construct, and operate Trains 5 and 6 in April 2015. Cheniere Partners has entered into six third-party LNG SPAs that in the aggregate equate to 19.75 mtpa and commence with the date of first commercial delivery of Trains 1 through 5 as specified in the respective SPAs. Cheniere Partners has placed documentation pertaining to the Liquefaction Project, including the applications and supporting studies, on its website located at http://www.cheniere.com.
For additional information, please refer to the Cheniere Partners website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended March 31, 2015, filed with the Securities and Exchange Commission.
This press release contains certain statements that may include “forward-looking statements.” 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 Partners’ business strategy, plans and objectives, including the construction and operation of liquefaction facilities, (ii) statements regarding expectations regarding regulatory authorizations and approvals, (iii) statements expressing beliefs and expectations regarding the development of Cheniere Partners’ LNG terminal and liquefaction business, (iv) statements regarding the business operations and prospects of third parties, (v) statements regarding potential financing arrangements, and (vi) statements regarding future discussions and entry into contracts. 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.

 (Financial Table Follows)





Cheniere Energy Partners, L.P.
Consolidated Statements of Operations
(in thousands, except per unit data) (1) 
(unaudited)
 
Three Months Ended
 
March 31,
 
2015
 
2014
Revenues
 
 
 
Revenues
$
66,718

 
$
66,449

Revenues—affiliate
812

 
772

Total revenues
67,530

 
67,221

 
 
 
 
Operating costs and expenses
 
 
 
Operating and maintenance expense
31,987

 
9,219

Operating and maintenance expense—affiliate
4,773

 
4,431

Depreciation expense
14,879

 
14,318

Development expense
1,151

 
3,496

Development expense—affiliate
204

 
152

General and administrative expense
3,515

 
3,366

General and administrative expense—affiliate
21,597

 
27,153

Total operating costs and expenses
78,106

 
62,135

 
 
 
 
Income (loss) from operations
(10,576
)
 
5,086

 
 
 
 
Other income (expense)
 
 
 
Interest expense, net
(42,845
)
 
(40,270
)
Loss on early extinguishment of debt
(88,992
)
 

Derivative loss, net
(36,384
)
 
(34,681
)
Other income
121

 
132

Total other expense
(168,100
)
 
(74,819
)
 
 
 
 
Net loss
$
(178,676
)
 
$
(69,733
)
 
 
 
 
Basic and diluted net loss per common unit
$
(0.61
)
 
$
(0.06
)
 
 
 
 
Weighted average number of common units outstanding used for basic and diluted net loss per common unit calculation
57,080

 
57,079





















Cheniere Energy Partners, L.P.
Consolidated Balance Sheets
(in thousands, except per unit data) (1) 
 
March 31,
 
December 31,
 
2015
 
2014
ASSETS
(unaudited)
 
 
Current assets
 
 
 
Cash and cash equivalents
$
171,464

 
$
248,830

Restricted cash and cash equivalents
261,371

 
195,702

Accounts receivable
26,197

 
310

Advances to affiliate
21,804

 
27,323

LNG inventory
16,281

 
4,293

Prepaid expenses and other
10,120

 
6,411

Other—affiliate
5,195

 
3,651

Total current assets
512,432

 
486,520

 
 
 
 
Non-current restricted cash and cash equivalents
1,849,456

 
544,465

Property, plant and equipment, net
9,534,951

 
8,978,356

Debt issuance costs, net
214,450

 
241,909

Non-current derivative assets
472

 
11,744

Other non-current assets
137,192

 
124,521

Total assets
$
12,248,953

 
$
10,387,515

 
 
 
 
LIABILITIES AND PARTNERS’ EQUITY
 
 
 
Current liabilities
 
 
 
Accounts payable
$
8,379

 
$
8,598

Accrued liabilities
204,461

 
136,596

Due to affiliates
17,527

 
19,660

Deferred revenue
26,653

 
26,655

Derivative liabilities
7,252

 
23,247

Total current liabilities
264,272

 
214,756

 
 
 
 
Long-term debt, net
10,992,229

 
8,991,333

Non-current deferred revenue
12,500

 
13,500

Other non-current liabilities
6,943

 
2,452

Other non-current liabilities—affiliate
45,710

 
34,745

 
 
 
 
Commitments and contingencies
 
 
 
 
 
 
 
Partners’ equity
 
 
 
Common unitholders’ interest (57.1 million units issued and outstanding at March 31, 2015 and December 31, 2014)
419,407

 
495,597

Class B unitholders’ interest (145.3 million units issued and outstanding at March 31, 2015 and December 31, 2014)
(38,216
)
 
(38,216
)
Subordinated unitholders’ interest (135.4 million units issued and outstanding at March 31, 2015 and December 31, 2014)
525,243

 
648,414

General partner’s interest (2% interest with 6.9 million units issued and outstanding at March 31, 2015 and December 31, 2014)
20,865

 
24,934

Total partners’ equity
927,299

 
1,130,729

Total liabilities and partners’ equity
$
12,248,953

 
$
10,387,515

 
 
 
 
 
(1)
Please refer to the Cheniere Energy Partners, L.P. Quarterly Report on Form 10-Q for the quarter ended March 31, 2015, filed with the Securities and Exchange Commission.

CONTACTS:
Investors: Randy Bhatia: 713-375-5479
Media: Faith Parker: 713-375-5663