Cheniere Energy, Inc. · NYSE:LNG
Cheniere Energy — Q3 2022 Earnings Presentation
23 slides from Cheniere Energy's earnings presentation, Nov 3, 2022
Slide 1: Cheniere Energy, Inc. Third Quarter 2022
Cheniere Energy, Inc. Third Quarter 2022 November 3, 2022 NYSE American: LNG
Slide 2: Safe Harbor Statements
Safe Harbor Statements Forward-Looking Statements This presentation contains certain statements that are, or may be deemed to be, “forward-looking • statements that our Trains, when completed, will have certain characteristics, including amounts of liquefaction statements” within the meaning of Sect
Slide 3: Agenda
Agenda Introduction Randy Bhatia Vice President, Investor Relations Company Highlights Jack Fusco President and Chief Executive Officer Commercial Update Anatol Feygin Executive Vice President and Chief Commercial Officer Financial Review Zach Davis Executive Vice President and Chief Financial Offic
Slide 4: Operating and Financial Highlights
Operating and Financial Highlights Jack Fusco, President and CEO
Slide 5: Third Quarter 2022 Highlights
Third Quarter 2022 Highlights Consolidated Adjusted EBITDA Financial Guidance Reconfirmed - Tracking to High End ($ billions, except per unit data) FY 2022 Consolidated Adjusted EBITDA $11.0 - $11.5 $2,782 Distributable Cash Flow $8.1 - $8.6 $1,053 CQP Distribution per Unit $4.00 - $4.25 Q3'2021 Q3'
Slide 6: Leading with Organic Growth
Leading with Organic Growth Sabine Pass Third Marine Berth Corpus Christi Stage 3 Corpus Christi Stage 3 Under Construction - ~12% Complete Sabine Pass Third Marine Berth Substantial Completion Corpus Christi Stage 3 Formal Groundbreaking Ceremony Delivered Provides Supports Future Cost & Schedule L
Slide 7: Commercial Update
Commercial Update Anatol Feygin, EVP and CCO
Slide 8: Volatility in International Gas and LNG Markets
Volatility in International Gas and LNG Markets Rate of Global LNG Capacity Growth Plunges Principal Supply Source to Europe(1) Drastically Cut Volatile Global Gas Prices(2) Growth in liquefaction capacity has dropped since 2018 Europe sources additional LNG and non-Russian piped gas Global gas and
Slide 9: Europe and Asia Market Drivers
Europe and Asia Market Drivers Europe LNG imports Russian Pipe vs. U.S. LNG to Europe(1) EU Gas Storage LNG flows to Europe jumped 13.6 MT or 106% YoY amid Russian flows to Europe slid 72% YoY while U.S. LNG Record LNG imports helped replenish inventories with EU Russian supply cuts deliveries surge
Slide 10: Current Market Has Spurred Increased Commercial Momentum
Current Market Has Spurred Increased Commercial Momentum Buyer support for U.S. projects could lead to Henry Hub-linked contracts surpassing Brent-linked contracts in a few years 75% of total LNG supply contracts(1) signed in 2022 are Henry Hub-linked contracts could surpass Brent-linked Growth in U
Slide 11: Financial Review
Financial Review Zach Davis, EVP and CFO
Slide 12: Third Quarter 2022 Financial Highlights
Third Quarter 2022 Financial Highlights Summary Results Key Financial Transactions and Updates • 20 / 20 Vision: announced long-term capital allocation plan in September ($ millions, except per share and LNG data) Q3’2022 Q3’2021 YTD 2022 YTD 2021 • Prepaid >$1.3 billion of consolidated long-term in
Slide 13: 2022 Guidance and 2023 Outlook
2022 Guidance and 2023 Outlook Tracking to High End of Recently Increased Open Volumes Available to Cheniere Marketing Full Year 2022 Guidance ($ in billions, except per unit data) Open Position EBITDA Sensitivity vs. Original Adjusted EBITDA $11.0 - $11.5 $11.0 - $11.5 Guidance Consolidated $9.8 -
Slide 14: Cheniere Energy, Inc. Third Quarter 2022
Cheniere Energy, Inc. Third Quarter 2022 November 3, 2022 NYSE American: LNG
Slide 15: Appendix
Append ix CHENIERE
Slide 16: Cheniere LNG Exports
Cheniere LNG Exports Approximately 2,450 Cargoes Exported from our Liquefaction Projects ~70% of volumes YTD produced at Cheniere or ~1,200 Tbtu have been delivered to Europe Cheniere LNG Exports by Destination MT 12 First cargo imported at new Eemshaven import terminal 10 was produced at Sabine Pas
Slide 17: Industry Leading U.S. LNG Export Platform
Industry Leading U.S. LNG Export Platform Corpus Christi LNG Terminal Sabine Pass Liquefaction ~25+ mtpa Total Production Capacity ~30 mtpa Total Production Capacity Trains 1-3 operating, contracts with long-term buyers Trains 1-6 operating, most contracts with long-term commenced buyers commenced >
Slide 18: Liquefaction Platform Update
Liquefaction Platform Update Sabine Pass Liquefaction Corpus Christi Liquefaction Liquefaction Operations Growth Liquefaction Operations Stage 3 6 Trains in operation Substantial Completion of 3rd berth 3 Trains in operation 10+ mtpa brownfield expansion project under construction - ~12% ~1,850 carg
Slide 19: Cheniere Debt Summary as of September 30, 2022
Cheniere Debt Summary as of September 30, 2022 Cash Balance: ~$1.5B(1) Cheniere Energy, Inc. Cheniere Energy, Inc. $1.5B Senior Notes due 2028 (4.625%) (NYSE American: LNG) $1.25B Senior Secured Revolving Credit Facility due 2026 Cheniere Corpus Christi Holdings, LLC $1.25B Notes due 2024 (7.000%) $
Slide 20: Run-Rate Guidance Update
Run-Rate Guidance Update Assumes CMI Run-Rate of $2.00 - $2.50 / MMBtu Prior Guidance Revised Guidance Revised + 20/20 Vision 9 Trains + Stage 3 + Midscale 8 & 9 + 9 Trains 9 Trains + Stage 3 Capital Return (Full Year) (Full Year) (Full Year) SPL T1-6 SPL T1-6 SPL T1-6 ($ bn, unless otherwise noted)
Slide 21: Reconciliation to Non-GAAP Measures
Reconciliation to Non-GAAP Measures Regulation G Reconciliations This presentation contains non-GAAP financial measures. Consolidated Adjusted EBITDA, Distributable Cash Flow, Distributable Cash Flow per Share, and Distributable Cash Flow per Unit are non-GAAP financial measures that we use to facil
Slide 22: Reconciliation to Non-GAAP Measures (continued)
Reconciliation to Non-GAAP Measures (continued) Regulation G Reconciliations (continued) Prior to 2022, we used an alternative definition for Distributable Cash Flow, which we believe no longer best reflect the consolidated distributable cash flow of each of our subsidiaries, including Cheniere Part
Slide 23: Investor Relations Contacts
Investor Relations Contacts Randy Bhatia Vice President, Investor Relations – (713) 375-5479, randy.bhatia@cheniere.com Frances Smith Manager, Investor Relations – (713) 375-5753, frances.smith@cheniere.com © 2021 Cheniere Energy, Inc. All Rights Reserved