US based Cheniere Energy is set to start construction on Train 5 of the Sabine Pass Liquefaction Project in Louisiana, following successful export authorisations and financing.
The firm has secured up to $5.8bn in debt financing for the expansion of the project which plans on constructing the Sabine Pass LNG terminal on more than 1,000 acres of land along the Sabine Pass River.
The project includes plan for building six liquefaction trains, each having a nominal production capacity of around 4.5 million tonnes per annum (mtpa).
Cheniere expects to start operation for the fifth train under the project as early as 2018.
The firm has engaged 18 financial institutions to act as joint lead arrangers for the debt facilities, which includes nearly $4.6bn credit facilities and a revolving credit facility for approximately $1.2bn.
Cheniere chairman and CEO Charif Souki said: "We now have five liquefaction trains under construction at Sabine Pass, with Train 1 expected to make first LNG later this year.
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By GlobalData"We expect to reach FID on Train 6 at Sabine Pass upon completion of commercial contracts and arranging financing, as all necessary regulatory approvals have been received."
The firm owns 100% interest for the Sabine Pass LNG terminal located at less than four miles distance from the Gulf Coast.
The LNG terminal has an existing infrastructure of five LNG storage tanks with capacity of nearly 16.9 billion cubic feet equivalent (Bcfe), two docks with a capacity to accommodate vessels of up to 266,000m3 and vaporisers with regasification capacity of approximately 4.0 Bcf/d.
Image: Aerial view of the Golden Pass terminal. Photo: courtesy of Golden Pass Products.
