Cheniere Energy, Inc. · NYSE:LNG
Cheniere Energy — Q1 2022 Earnings Presentation
26 slides from Cheniere Energy's earnings presentation, May 4, 2022
Slide 1: Cheniere Earnings Presentation First Quarter 2022
Cheniere Earnings Presentation First Quarter 2022 May 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: First Quarter 2022 Highlights and FY 2022 Guidance Update
First Quarter 2022 Highlights and FY 2022 Guidance Update Consolidated Adjusted EBITDA Financial Guidance ($ billions, except per unit data) Prior FY 2022 Revised FY 2022 Consolidated Adjusted EBITDA $7.0 - $7.5 $8.2 - $8.7 $3,153 $1,452 Distributable Cash Flow $4.3 - $4.8 $5.5 - $6.0 Q1 21 Q1 22 CQ
Slide 6: Cheniere QMRV Program – GHG Measurements & Monitoring
Cheniere QMRV Program – GHG Measurements & Monitoring PUpstream >0.4 Bcf/d of natural gas production across 3 basins P Midstream Analyzing pipelines, compressor stations, gathering & boosting, processing & storage facilities Gillis Compressor Station Pilot Project for Midstream QMRV Quantify, Monito
Slide 7: Corpus Christi Stage 3 Expansion
Corpus Christi Stage 3 Expansion ~10+ MTPA Brownfield Expansion Project in Early Construction Comprised of 7 Midscale Trains • Bechtel has begun early engineering, procurement and other site works under limited notice to proceed Stage 3 • Financing underway with lender group • FID is expected this s
Slide 8: Commercial Update
Commercial Update Anatol Feygin, EVP and CCO
Slide 9: U.S. LNG Has Responded to Unprecedented Market Need
U.S. LNG Has Responded to Unprecedented Market Need Global Energy Commodity Prices Global LNG Supply/Demand Variance in Q1 LNG Flows into Europe1 by Origin The Ukraine war exacerbated the existing structural U.S. exports were up ~4 MT (23%) yoy in Q1 due to new Europe continued its strong call on U.
Slide 10: Russian Supply Uncertainty Strained an Already Tight Global Market
Russian Supply Uncertainty Strained an Already Tight Global Market Russian Pipe vs. LNG Imports into Europe1 Europe1 Gas Supply YoY Change (Q1’22 vs. Q1’21) EU Gas Storage Level LNG into Europe jumped 66% yoy in Q1 as Russian flows LNG accounted for near ~1/3 of Europe’s total gas supply in LNG infl
Slide 11: Current Global Dynamics Highlight LNG's Role in Security of Supply
Current Global Dynamics Highlight LNG’s Role in Security of Supply Russia / Ukraine war already EU’s Plan to Replace Russian gas in 2022 Proposed European FSRU Projects influencing energy policy; EU planning to replace ~100 Bcm Russian gas imports in 17 FSRUs in the pipeline with over 70 Bcma of tot
Slide 12: Financial Update
Financial Update Zach Davis, EVP and CFO
Slide 13: First Quarter 2022 Financial Highlights
First Quarter 2022 Financial Highlights ✓ Record ~$3.2 billion of Consolidated Adjusted EBITDA Summary Results ✓ Record ~$2.5 billion of Distributable Cash Flow ($ millions, except per share and LNG data) Q1 2022 1Q 2021 ✓ Record 584 tbtu volumes exported Revenues $7,484 $3,090 Key Financial Transac
Slide 14: Raising Full Year 2022 Financial Guidance
Raising Full Year 2022 Financial Guidance Full Year 2022 Guidance • FY 2022 forecast improved due to: ✓ Increased volumes from operational excellence and ($ billions, except per unit data) As of 11/4/21 As of 2/24/22 Revised FY 2022 maintenance optimization and the accelerated ramp-up of Sabine Pass
Slide 15: Cheniere Earnings Presentation
Cheniere Earnings Presentation First Quarter 2022 May 4, 2022 NYSE American: LNG
Slide 16: Appendix
Append ix CHENIERE
Slide 17: Cheniere LNG Exports
Cheniere LNG Exports More than 2,100 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 2020 2021 2022 Europe Asia Latin America MENA Cheniere Destinations Sources: Cheniere Research, Kpler 17 Note: Cumulative cargoes
Slide 18: 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 1-3 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 >1,600 cargoes produced and exported Growth 3rd berth expansion 81.2% complete Evaluating CCUS opportunities Own/control ~500 acres of adjacent land for potential fu
Slide 20: Corpus Christi Update
Corpus Christi Update Liquefaction Operations 3 Trains in operation Increased production via maintenance optimization and debottlenecking ~500 cargoes produced and exported Growth ~10+ mtpa Stage 3 expansion project in early construction with FID expected this summer 20 Note: Cumulative cargoes as o
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: 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 23: Cheniere Debt Summary as of 3/31/22
Cheniere Debt Summary as of 3/31/22 Cash Balance: ~$2.5B1 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 Notes du
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