Cheniere Energy, Inc. · NYSE:LNG
Cheniere Energy — Q1 2021 Earnings Presentation
24 slides from Cheniere Energy's earnings presentation, May 4, 2021
Slide 1: Cheniere Earnings Presentation First Quarter 2021
Cheniere Earnings Presentation First Quarter 2021 May 4, 2021 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 Senior Vice President and Chief Financial Officer
Slide 4: Operating and Financial Highlights
Operating and Financial Highlights Jack Fusco, President and CEO
Slide 5: First Quarter Highlights and Increased Financial Guidance
First Quarter Highlights and Increased Financial Guidance Consolidated Adjusted EBITDA Revised Financial Guidance 2000 Prior 2021 Revised 2021 1500 ($ billions) 1000 Consolidated Adjusted EBITDA $4.1 - $4.4 $4.3 - $4.6 $1,452 500 $1,039 0 Distributable Cash Flow $1.4 - $1.7 $1.6 - $1.9 1Q 20 1Q 21 N
Slide 6: Market Fundamentals and Track Record Support Long-Term Value
Market Fundamentals and Track Record Support Long-Term Value LNG Supply and Demand Balances to 2040 Climate Scenario Analysis Global LNG available supply capacity1 and demand to 2040, mtpa Analyzed long-term resilience of Cheniere’s 700 665 business and potential implications in various future clima
Slide 7: Commercial Update
Commercial Update Anatol Feygin, EVP and CCO
Slide 8: Global LNG Trade Growth Positive for First Time Since 1Q20
Global LNG Trade Growth Positive for First Time Since 1Q20 Global LNG Supply & Demand YoY Variance Europe LNG Imports Asia LNG Imports Net LNG trade grew after 3 consecutive quarters of YoY Storage fill main driver of LNG demand LNG demand continuing to increase due to strong decreases economic grow
Slide 9: Asia Remains a Key Region for Long-Term Gas Demand Growth
Asia Remains a Key Region for Long-Term Gas Demand Growth Growing Regional Infrastructure Expanding Power Markets Depleting Regional Production China, India and others in the region have embarked Forecast Gas Share of Power Capacity Additions in Gas demand vs. estimated output from domestic fields o
Slide 10: LNG Consistent with Global Energy Priorities Especially in S/SE Asia
LNG Consistent with Global Energy Priorities Especially in S/SE Asia LNG Demand in South and Southeast Asia Share in Global Greenhouse Gas (GHG) Emissions LNG Demand in South and Southeast Asia is expected to increase 5x by 2050 with More than 100 countries have pledged to reach net-zero total S & S
Slide 11: Financial Update
Financial Update Zach Davis, SVP and CFO
Slide 12: First Quarter Financial Highlights
First Quarter Financial Highlights Summary Results Prepaid $148 million of borrowings under Cheniere Term Loan Facility with available cash ($ millions, except per share and LNG data) 1Q 2021 Revenues $3,090 84% of 1Q 2021 physical LNG volumes recognized in income sold pursuant to long-term SPA or I
Slide 13: Raising Full Year 2021 Guidance
Raising Full Year 2021 Guidance Revised Full Year 2021 Guidance Initial Prior Current ($ billions) LNG Consolidated Adjusted EBITDA $3.9 - $4.2 $4.1 - $4.4 $4.3 - $4.6 LNG Distributable Cash Flow $1.2 - $1.5 $1.4 - $1.7 $1.6 - $1.9 • $400 million increase in Consolidated Adjusted EBITDA and Distribu
Slide 14: Cheniere Earnings Presentation First Quarter 2021
Cheniere Earnings Presentation First Quarter 2021 May 4, 2021 NYSE American: LNG
Slide 15: Appendix
Append ix CHENIERE
Slide 16: Cheniere LNG Exports
Cheniere LNG Exports Over 1,525 Cargoes (~105 Million Tonnes) Exported from our Liquefaction Projects Cheniere LNG Exports by Destination MT 12 10 8 6 4 2 0 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2019 2020 2021 Europe Asia Latin America MENA Cheniere Destinations Sources: Cheniere Research, Kpler 16 Note: Cumulative
Slide 17: Industry Leading U.S. LNG Export Platform
Industry Leading U.S. LNG Export Platform Corpus Christi LNG Terminal Sabine Pass Liquefaction ~15 mtpa Total Production Capacity ~30 mtpa Total Production Capacity Trains 1-2 operating, contracts with long-term buyers Trains 1-5 operating, contracts with long-term buyers commenced commenced >1,500
Slide 18: Sabine Pass Update
Sabine Pass Update Liquefaction Operations 5 Trains in operation Increased production via maintenance optimization and debottlenecking >1,250 cargoes produced and exported Growth Train 6 under construction • Expected completion 1H 2022 • Project completion 83.0% 3rd berth construction underway Sabin
Slide 19: Corpus Christi Update
Corpus Christi Update Liquefaction Operations 3 Trains in operation Increased production via maintenance optimization and debottlenecking >270 cargoes produced and exported Growth ~10 mtpa Stage 3 expansion project fully permitted 19 Note: Cumulative cargoes as of April 30, 2021.
Slide 20: Cheniere Corporate Structure
Cheniere Corporate Structure Cheniere Energy, Inc. (NYSE American: LNG) CQP GP Cheniere Corpus Cheniere Marketing (& IDRs) Christi Holdings Cheniere Energy Corpus Christi Cheniere Corpus Partners, L.P. Liquefaction Christi Pipeline (NYSE American: CQP) Cheniere Creole Sabine Pass Sabine Pass LNG Tra
Slide 21: Run Rate Guidance
Run Rate Guidance 9 Trains (Full Year) SPL T1-6 ($billions, except per share and per unit amounts or unless otherwise noted) CCL T1-3 CEI Consolidated Adjusted EBITDA $5.3 - $5.7 Less: Distributions to CQP Non-Controlling Interest ($0.9) – ($1.0) Less: CQP Interest Expense / SPL Interest Expense / O
Slide 22: Cheniere Debt Summary
Cheniere Debt Summary Cash Balance: ~$1.7B1 Cheniere Energy, Inc. Cheniere Energy, Inc. ~$0.5B PIK Convertible Notes due 2021 (4.875%) ~$0.63B Convertible Notes due 2045 (4.250%) (NYSE American: LNG) Cheniere Corpus Christi Holdings, LLC $2.0B Senior Secured Notes due 2028 (4.625%) $1.25B Notes due
Slide 23: Reconciliation to Non-GAAP Measures
Reconciliation to Non-GAAP Measures Consolidated Adjusted EBITDA The following table reconciles our Consolidated Adjusted EBITDA to U.S. GAAP results for first quarter Regulation G Reconciliations 2021 and 2020 (in millions): This presentation contains non-GAAP financial measures. Consolidated Adjus
Slide 24: Investor Relations Contacts
Investor Relations Contacts Randy Bhatia Vice President, Investor Relations – (713) 375-5479, randy.bhatia@cheniere.com Megan Light Director, Investor Relations – (713) 375-5492, megan.light@cheniere.com ®2021 Cheniere Energy, Inc. Copyrights - All Rights Reserved