Summary
This 8-K filing from Cheniere Energy, Inc. (LNG) reports a significant development in its Sabine Pass LNG receiving terminal operations. On December 1, 2005, Chevron USA, Inc. officially elected to increase its reserved capacity at the terminal from approximately 700 million cubic feet per day (MMcf/d) to approximately 1 billion cubic feet per day (Bcf/d). This decision was made in accordance with the Omnibus Agreement previously signed between Sabine Pass LNG, L.P. (a subsidiary of Cheniere) and Chevron.
Key Highlights
- 1Chevron USA, Inc. exercised its option to increase reserved capacity at the Sabine Pass LNG terminal.
- 2The increased capacity is from approximately 700 MMcf/d to approximately 1 Bcf/d.
- 3The election was made on December 1, 2005, as per the terms of the November 8, 2004, Omnibus Agreement.
- 4This development signifies increased commitment and utilization of Cheniere's Sabine Pass facility by a major energy player.
- 5The filing includes the press release announcing the decision and the confirmation letter from Chevron as exhibits.