LNG

#272
Cheniere Energy, Inc. Common Stock
294.1 0 USD
+0.01%
Market Price
Settore: Energia
Base: USD
Valuta di Profitto: USD
Intervallo Giornaliero
292.12
294.14
Intervallo Annuale
186.20
300.10
Variazione giornaliera
+0.79%
Variazione Mensile
+13.33%
Variazione di 6 mesi
+16.86%
Variazione Annuale
+33.31%
Chiusura Precedente
291.7 9
Open
292.3 1
Minimo
292.1 2
Massimo
294.1 4
Volume
2 057
Apri il grafico completo

Financials

Panoramica Estratto Conto Statistiche Dividendi Documents

2026

Current report, Q3 FY2026
Cheniere Energy, Inc. current report, Q3 FY2026
8-K
Current report, Q3 FY2026
Cheniere Energy, Inc. current report, Q3 FY2026
8-K
Current report, Q3 FY2026
Cheniere Energy, Inc. current report, Q3 FY2026
8-K
Quarterly report, Q2 FY2026
Cheniere Energy, Inc. quarterly report, Q2 FY2026
10-Q
Current report, Q2 FY2026
Cheniere Energy, Inc. current report, Q2 FY2026
8-K
Current report, Q2 FY2026
Cheniere Energy, Inc. current report, Q2 FY2026
8-K
Current report, Q2 FY2026
Cheniere Energy, Inc. current report, Q2 FY2026
8-K
Current report, Q2 FY2026
Cheniere Energy, Inc. current report, Q2 FY2026
8-K
Current report, Q2 FY2026
Cheniere Energy, Inc. current report, Q2 FY2026
8-K
Current report, Q2 FY2026
Cheniere Energy, Inc. current report, Q2 FY2026
8-K

Cheniere Energy, Inc. current report, Q4 FY2015

Full document

Business Context and Reporting Period

This Form 8-K Current Report was filed by Cheniere Energy, Inc. on October 20, 2015. The filing serves as a Regulation FD disclosure to revise the company's corporate presentation and clarify public comments regarding EBITDA estimates, project-level debt, and maintenance capital costs for its liquefaction facilities under construction in Cameron Parish, Louisiana (Sabine Pass) and Corpus Christi, Texas.

Key Financial Metrics and Estimates

The filing provides forward-looking non-GAAP estimates based on the completion of seven liquefaction trains under construction:

  • Consolidated EBITDA: Estimated at approximately $4.3 billion per year from Cheniere Energy Partners, L.P. and the Corpus Christi Liquefaction Project.
  • Revenue Components: Includes $4.3 billion in fixed fee revenue from third-party Sale and Purchase Agreements (SPAs), approximately $0.6 billion from excess volume sales (based on current market prices), and $0.4 billion in gas receipts.
  • Operating Costs: Estimated operating, general and administrative, pipeline, and maintenance costs aggregate approximately $1.5 billion.
  • Standalone Net Cash Flows: Estimated at approximately $1.6 billion per year on a deconsolidated basis net of minority interest, including management fees and subtracting project-level G&A and interest.
  • Total Debt: Estimated at approximately $24.6 billion, assuming the conversion of $2 billion in convertible notes.
  • Project-Level Debt: Approximately $21.5 billion for the seven trains under construction. This includes $8.5 billion in bonds and $4.6 billion in committed credit facilities for Sabine Pass, and $8.4 billion in committed credit facilities for Corpus Christi.
  • Interest Coverage: Estimated EBITDA coverage is approximately 300% for Sabine Pass and over 250% for Corpus Christi.
  • Maintenance Expenditures: Estimated at approximately $175 million per year for Trains 1-5, largely driven by a 20-year contract with GE.

Material Changes and Clarifications

The filing does not report historical financial results but clarifies previously communicated estimates to address investor inquiries. Key clarifications include:

  • Debt Structure: Explicitly details the split between project-level debt (non-recourse to Cheniere) and corporate debt, including $2.6 billion in outstanding convertible notes.
  • Revenue Assumptions: Clarifies that the $0.6 billion excess volume revenue is a market snapshot based on current European LNG and U.S. Henry Hub natural gas prices, noting actual results will depend on future market prices.
  • Ownership and Distributions: Reaffirms that Cheniere receives distributions from Sabine Pass through its general partner interest and limited partner interest in Cheniere Partners, while retaining 100% of distributions from the Corpus Christi project.

Guidance, Outlook, and Risks

Outlook and Development:

  • The company expects to reach Final Investment Decision (FID) on additional trains upon securing further SPAs and financing.
  • For Train 3 of the Corpus Christi Liquefaction Project, financing commitments have been obtained for the debt portion through Q4 2015 and the equity portion through Q2 2016.
Risks and Contingencies:
  • Forward-Looking Statements: The filing contains extensive forward-looking statements regarding construction completion, cash distributions, market prices, and financing, which are subject to significant risks and uncertainties.
  • Non-GAAP Measures: EBITDA and cash flow estimates are non-GAAP measures. The company states it has not made a forecast of net income and cannot reconcile these estimates to GAAP net income.
  • Market Dependency: Revenue estimates for excess volumes are highly dependent on future LNG and natural gas prices.
Unusual Items:
  • The filing explicitly states that the information provided is not deemed "filed" for purposes of Section 18 of the Exchange Act and is not incorporated by reference into other filings except as expressly set forth.

Investor Verification Checklist

  • Verify the current status of the seven liquefaction trains under construction and any delays in commissioning.
  • Monitor actual market prices for LNG in Europe and natural gas at Henry Hub to assess the validity of the $0.6 billion excess volume revenue estimate.
  • Review the terms of the $2 billion convertible notes and the likelihood of their conversion.
  • Confirm the execution of additional SPAs required to reach FID on future trains beyond the current seven.
  • Assess the impact of the 20-year GE maintenance contract on long-term operating cost flexibility.

Notizie