Cheniere Energy Inc. (CEI) develops, constructs, and operates liquefied natural gas (LNG) processing facilities in the U.S. Gulf Coast. CEI has successfully brought four LNG trains into operation at its subsidiary, Sabine Pass Liquefaction LLC (SPLIQ, BBB-/Stable). In addition, another train at SPLIQ and two trains at Corpus Christi Liquefaction LLC (CCLIQ, BB-/Stable) are under construction and currently progressing in line with our budget and schedule expectations, with operations scheduled to begin during 2019. The recent announcement by CEI that CCLIQ had signed an engineering, procurement, and construction (EPC) contract for the construction of a third train does not affect the rating at this time given it is not a formal Final Investment Decision (FID). Construction may proceed now on
