Cheniere Energy Partners, L.P. (NYSE MKT: CQP) (Cheniere Partners) is a Delaware limited partnership formed by Cheniere Energy, Inc. Through wholly owned subsidiaries, it owns and operates the Sabine Pass LNG receiving terminal and the Creole Trail Pipeline located in western Cameron Parish, Louisiana on the Sabine Pass Channel. Its primary business objectives are to generate stable cash flows sufficient to pay the initial quarterly distribution to unitholders and, over time to increase quarterly cash distributions.
Cheniere Partners is currently developing a liquefaction project adjacent to the Sabine Pass LNG terminal. The Sabine Pass site can readily accommodate up to six LNG trains capable of producing in aggregate approximately 27.0 mtpa, or roughly equivalent to over 3.5 Bcf/d. Four LNG trains are currently under construction with the first train expected to produce LNG in late 2015. The remaining trains are expected to come on-line on a 6-9 month staggered basis thereafter. Trains 5 and 6 are in the permitting process, which is expected to be completed in 2015.