Cheniere Energy Partners, L.P. Reports Second Quarter 2017 Results

HOUSTON, Aug. 8, 2017

Summary of Second Quarter 2017 Results (in millions, except LNG data)

	Three Months Ended								Six Months Ended
	June 30,								June 30,
	2017 ARIVA.DE Börsen-Geflüster Kurse Cheniere Energy Partners 49,30 $ +0,94%				2016				2017				2016
Revenues	$	992			$	151			$	1,883			$	218
Net income (loss)	$	46			$	(100)			$	93			$	(175)
Adjusted EBITDA1	$	283			$	51			$	602			$	63
LNG exported:
Number of cargoes	48				11				91				15
Volumes (TBtu)	170				38				322				52
LNG volumes loaded (TBtu)	167				38				321				53

Recent Achievements

Strategic

• Year to date, LNG from the SPL Project (defined below) has been delivered to 10 new countries. As of July 2017, LNG from the SPL Project had reached 24 of the 40 LNG importing countries around the world.

Operational

• In April 2017, we reached the milestone of 100 cumulative LNG cargoes exported from the SPL Project. As of July 31, 2017, more than 160 cumulative LNG cargoes had been exported from the SPL Project.
• In June 2017, the date of first commercial delivery ("DFCD") was reached under the 20-year LNG Sale and Purchase Agreement ("SPA") with Korea Gas Corporation relating to Train 3 of the SPL Project.
• In August 2017, DFCD was reached under the respective 20-year LNG SPAs with Gas Natural Fenosa LNG GOM, Limited and BG Gulf Coast LNG, LLC relating to Train 2 of the SPL Project.
• Commissioning activities for Train 4 of the SPL Project began in March 2017, and first LNG was achieved in July 2017.

Financial

• In May 2017, Moody's Investors Service upgraded the senior secured debt rating of Sabine Pass Liquefaction, LLC ("SPL") from Ba1 to Baa3, an investment-grade rating.
• In June 2017, Fitch Ratings assigned SPL an investment-grade issuer default rating of BBB-.

Liquefaction Project Update

Cheniere Energy Partners, L.P. ("Cheniere Partners") (NYSE American: CQP) reported net income of $46 million and $93 million for the three and six months ended June 30, 2017, respectively, compared to net losses of $100 million and $175 million for the comparable periods in 2016.  Adjusted EBITDA¹ for the three and six months ended June 30, 2017 was $283 million and $602 million, respectively, compared to $51 million and $63 million for the comparable 2016 periods.

During the three and six months ended June 30, 2017, 48 and 91 LNG cargoes, respectively, were exported from the SPL Project, of which zero and 7, respectively, were commissioning cargoes.

Variances in results of operations for the three and six months ended June 30, 2017 as compared to the three and six months ended June 30, 2016 were primarily driven by the timing of completion of Trains and the length of each Train's operations within the periods being compared. Total revenues increased $841 million and $1.7 billion during the three and six months ended June 30, 2017, respectively, as compared to the three and six months ended June 30, 2016, respectively, primarily due to the increased volume of LNG sold that was recognized as revenues. LNG revenues in the second quarter of 2017 exceeded $900 million.

Total operating costs and expenses increased $654 million and $1.2 billion during the three and six months ended June 30, 2017, respectively, compared to the three and six months ended June 30, 2016. The increase in total operating costs and expenses was primarily due to an increase in cost of sales and, to a lesser extent, from increases in operating and maintenance expense and depreciation and amortization expense.

SPL Project Update

Through Cheniere Partners, we are developing up to six Trains at the Sabine Pass LNG terminal adjacent to the existing regasification facilities (the "SPL Project"). Each Train is expected to have a nominal production capacity, which is prior to adjusting for planned maintenance, production reliability, and potential overdesign, of approximately 4.5 million tonnes per annum ("mtpa") of LNG. Trains 1, 2, and 3 are operational, Train 4 is undergoing commissioning, Train 5 is under construction, and Train 6 is being commercialized and has all necessary regulatory approvals in place.

Distributions to Unitholders

We will pay a cash distribution per common unit of $0.425 to unitholders of record as of August 1, 2017 and the related general partner distribution on August 11, 2017.

2017 Full Year Distribution Guidance

Investor Conference Call and Webcast

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