Cheniere Energy, Inc. · NYSE:LNG
Cheniere Energy — Q1 2023 Earnings Presentation
22 slides from Cheniere Energy's earnings presentation, May 2, 2023
Slide 1: Cheniere Energy, Inc. First Quarter 2023
Cheniere Energy, Inc. First Quarter 2023 May 2, 2023 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 regarding our planned development and construction of additional Trains or pipelines, including the statements” within the meaning of Sectio
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 2023 Highlights and FY 2023 Guidance Update
First Quarter 2023 Highlights and FY 2023 Guidance Update Raising Full Year 2023 Financial Guidance Consolidated Adjusted EBITDA ($ billions, except per unit data) Prior FY 2023 New FY 2023 Consolidated Adjusted EBITDA $8.0 - $8.5 $8.2 - $8.7 Distributable Cash Flow $5.5 - $6.0 $5.7 - $6.2 $3,153 $3
Slide 6: Execution & Growth
Execution & Growth Corpus Christi Stage 3 Corpus Christi Midscale Trains 8 & 9 SPL Expansion Project 10+ ~5 ~20 1 MTPA MTPA MTPA Early construction ahead of schedule FERC application filed in March 2023 20+ year, ~0.4 mtpa SPA with investment First LNG expected late 2025 ~2.8 mtpa of long-
Slide 7: Commercial Update
Commercial Update Anatol Feygin, EVP and CCO
Slide 8: Increased LNG Supply Reduces Market Pressures
Increased LNG Supply Reduces Market Pressures Monthly Global LNG Exports YoY US Export Growth vs. Rest of World International Prices & Spreads LNG production reached a record high in Q1, helping to After extensive outages, LNG output from international facilities Prices have returned to pre-war leve
Slide 9: European Storage and LNG Flows Remain Robust
European Storage and LNG Flows Remain Robust LNG Imports to Europe Gas Demand in Key European Markets(1) Record LNG imports continued through the first quarter, increasing 8% on the year Overall gas consumption remained subdued across all sectors, despite price moderation MT Bcm 5-Yr Range 5-Yr Rang
Slide 10: Asian Natural Gas Demand Stabilized
Asian Natural Gas Demand Stabilized LNG Imports to Asia Asia LNG Imports Variance Q1’23 vs. Q1’22 China Gas & LNG Demand Rebounded Asia’s YoY declines in LNG imports narrowed as prices Elevated inventories & increased nuclear availability in Japan LNG imports rebounded in March, showing the largest
Slide 11: Financial Review
Financial Review Zach Davis, EVP and CFO
Slide 12: First Quarter 2023 Financial Highlights
First Quarter 2023 Financial Highlights Summary Results Key Financial Transactions and Updates • In January, LNG achieved second investment grade rating of BBB- from Fitch ($ millions, except per share and LNG data) Q1 2023 Q1 2022 • In February, S&P upgraded SPL from BBB to BBB+ Revenues $7,310 $7,
Slide 13: Raising Full Year 2023 Financial Guidance
Raising Full Year 2023 Financial Guidance Full Year 2023 Guidance ($ billions, except per unit data) Prior FY 2023 New FY 2023 Consolidated Adjusted EBITDA $8.0 - $8.5 $8.2 - $8.7 Distributable Cash Flow $5.5 - $6.0 $5.7 - $6.2 FY 2023 financial results subject to volatility of global gas market pri
Slide 14: Cheniere Energy, Inc. First Quarter 2023
Cheniere Energy, Inc. First Quarter 2023 May 2, 2023 NYSE American: LNG
Slide 15: Appendix
Append ix CHENIERE
Slide 16: Cheniere LNG Exports
Cheniere LNG Exports >2,770 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 3Q 4Q 1Q 2020 2021 2022 2023 Europe Asia Latin America MENA Cheniere Destinations Sources: Cheniere Research. 16 Note: Cumulative cargoe
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 - ~28.7% ~2,070 ca
Slide 19: Cheniere Debt Summary as of March 31, 2023
Cheniere Debt Summary as of March 31, 2023 Cash Balance: ~$2.1B(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(2) ~$1.49B Notes due 2025 (5.875%) ~
Slide 20: Run-Rate Guidance
Run-Rate Guidance Assumes CMI Run-Rate of $2.00 - $2.50 / MMBtu 9 Trains + Stage 3 + Midscale 8 & 9 + 9 Trains 9 Trains + Stage 3 Capital Return (Full Year) (Full Year) (Full Year) SPL T1-6 SPL T1-6 SPL T1-6 ($ bn, unless otherwise noted) CCL T1-3 CCL T1-3 + Stage 3 CCL T1-3 + Stage 3 + Midscale T8-
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: 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 © 2023 Cheniere Energy, Inc. All Rights Reserved