Cheniere Energy, Inc. · NYSE:LNG
Cheniere Energy — Q2 2022 Earnings Presentation
26 slides from Cheniere Energy's earnings presentation, Aug 4, 2022
Slide 1: Cheniere Earnings Presentation Second Quarter 2022
Cheniere Earnings Presentation Second Quarter 2022 August 4, 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: Second Quarter 2022 Highlights and 2022 Guidance Update
Second Quarter 2022 Highlights and 2022 Guidance Update Consolidated Adjusted EBITDA Financial Guidance ($ billions, except per unit data) Prior FY 2022 Revised FY 2022 Consolidated Adjusted EBITDA $8.2 - $8.7 $9.8 - $10.3 $2,529 Distributable Cash Flow $5.5 - $6.0 $6.9 - $7.4 $1,023 CQP Distributio
Slide 6: Reliability Through Operational Excellence
Reliability Through Operational Excellence ~93% ~2,300 cargoes to 37 Utilization rate since 2021 vs. ~80% global average1 different regions since 2016 >8,900 TBtu Nominated to SPL/CCL with near-perfect scheduling efficiency ~11% of global LNG produced by Cheniere in 2022 ~12% Increase in midpoint an
Slide 7: Leading in Climate and Sustainability
Leading in Climate and Sustainability ✓ Estimates life cycle greenhouse gas emissions and methane intensity for LNG cargoes from production through the point of delivery to long-term FOB and DES customers Sample Data ✓ Utilizes Cheniere’s lifecycle analysis framework (LCA) based on data from LNG sup
Slide 8: Commercial Update
Commercial Update Anatol Feygin, EVP and CCO
Slide 9: LNG Market Continues to Tighten as Supply Uncertainty Mounts
LNG Market Continues to Tighten as Supply Uncertainty Mounts Supply Shortages Exacerbated by Global LNG Variance in Q2 U.S. LNG vs. Russia Pipe to Europe1 Global Natural Gas Prices2 Geopolitics Europe leads global LNG demand growth U.S. LNG to Europe remained robust in Global benchmarks rebounded in
Slide 10: Record LNG Imports into Europe
Record LNG Imports into Europe Europe LNG Imports Russian Pipe to Europe1 Gas Demand in Key European Markets2 Europe increased LNG imports (up 51% yoy) through Russian flows to Europe were down 43% in Q2 and 36% European gas demand lower by 11% in 1H’2022 1H’2022 to support demand & storage injectio
Slide 11: U.S. LNG Contracting Gains Further Momentum
U.S. LNG Contracting Gains Further Momentum Global Contract Activity1 Through 1H’2022 U.S. LNG Deals2 Signed by Buyer Type, 1H’2022 Europe3 LNG Demand Forecasts Significant volumes have been firmed up this year with Record pace of U.S. LNG contract signing set in Q2 Gas demand reduction targets in E
Slide 12: Financial Update
Financial Update Zach Davis, EVP and CFO
Slide 13: Second Quarter 2022 Financial Highlights
Second Quarter 2022 Financial Highlights Summary Results Key Financial Transactions and Updates ($ millions, except per share and LNG data) Q2’2022 Q2’2021 1H’2022 1H’2021 • Raised ~$4.0 billion of new committed capital across the CCH Credit Facility and CCH Working Capital Facility Revenues $8,007
Slide 14: Raising Full Year 2022 Financial Guidance
Raising Full Year 2022 Financial Guidance Full Year 2022 Guidance ($ in billions, except per unit data) Consolidated Adjusted EBITDA Distributable Cash Flow CQP Distribution per Unit $9.8 - $10.3 $8.2 - $8.7 $4.00 - $4.25 $4.00 - $4.25 $4.00 - $4.25 $7.0 - $7.5 $6.9 - $7.4 Tracking to High End $5.8
Slide 15: Cheniere Earnings Presentation
Cheniere Earnings Presentation Second Quarter 2022 August 4, 2022 NYSE American: LNG
Slide 16: Appendix
Append ix CHENIERE
Slide 17: Cheniere LNG Exports
Cheniere LNG Exports Approximately 2,300 Cargoes Exported from our Liquefaction Projects Cheniere LNG Exports by Destination MT 14 12 10 8 6 4 2 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 2020 2021 2022 Europe Asia Latin America MENA Cheniere Destinations Long-term Customers Signed YTD Sources: Cheniere Resear
Slide 18: Industry Leading U.S. LNG Export Platform
Industry Leading U.S. LNG Export Platform Corpus Christi LNG Terminal Sabine Pass Liquefaction ~25 mtpa Total Production Capacity ~30 mtpa Total Production Capacity Trains 1-3 operating, contracts with long-term buyers Trains 1-6 operating, most contracts with long-term commenced buyers commenced >1
Slide 19: Sabine Pass Update
Sabine Pass Update Liquefaction Operations 6 Trains in operation Increased production via maintenance optimization and debottlenecking ~1,750 cargoes produced and exported Growth 3rd berth expansion 94% complete Additional LNG production capacity under development Evaluating CCUS opportunities Sabin
Slide 20: Corpus Christi Update
Corpus Christi Update Stage 3 Under Construction Liquefaction Operations 3 Trains in operation Increased production via maintenance optimization and debottlenecking ~550 cargoes produced and exported Stage 3 10+ mtpa brownfield expansion project under construction Growth ~2.8 mtpa of long-term contr
Slide 21: Cheniere Corporate Structure
Cheniere Corporate Structure Cheniere Energy, Inc. (NYSE American: LNG) CQP GP Cheniere Corpus Cheniere Marketing (& IDRs) Christi Holdings Cheniere Energy Corpus Christi Cheniere Corpus Partners, L.P. Liquefaction Christi Pipeline (NYSE American: CQP) Cheniere Creole Sabine Pass Sabine Pass LNG Tra
Slide 22: 9-Train Run Rate Guidance
9-Train Run Rate Guidance 9 Trains (Full Year) SPL T1-6 ($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 Exp
Slide 23: Cheniere Debt Summary as of June 30, 2022
Cheniere Debt Summary as of June 30, 2022 Cash Balance: ~$2.6B1 Cheniere Energy, Inc. Cheniere Energy, Inc. $2.0B 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%) $1.5B No
Slide 24: 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 25: 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 26: 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