Cheniere Energy Engages The Abraham Group10/21/05
Former US Energy Secretary Spencer Abraham to Advise on LNG Transactions
Houston, Texas - Cheniere Energy, Inc. (AMEX: LNG) announced today that it has engaged Former US Energy Secretary Spencer Abraham's consulting firm, The Abraham Group, to provide strategic advice and assistance to the company on current and future liquefied natural gas (LNG) transactions.
"The long-term prospect for LNG trade to aid in meeting America's and the world's natural gas needs are extremely encouraging," said Mr. Abraham, Chairman & CEO of The Abraham Group. "Cheniere is an impressive company that will be a major player in the U.S. and North American LNG markets. We look forward to working with them to achieve their business objectives."
As Secretary of Energy, Mr. Abraham hosted the first ever LNG Ministerial Meeting, where he brought together energy ministers from 24 countries to discuss LNG's potential as a major contributor to the world's energy supply, and more specifically, on its potential to help the United States meet its growing demand for natural gas into the 21st century.
Cheniere recently announced the activation of its North American LNG Gateway™ Program and issued a Request for Proposals to sell to Cheniere up to 200 cargoes per year of liquefied natural gas (LNG) for the years 2008 - 2010. Cheniere's North American LNG Gateway™ program will provide global LNG suppliers a direct platform to nominate cargoes into Cheniere's LNG receiving terminals starting with the Sabine Pass LNG Receiving Terminal, which is currently under construction in Louisiana. Cheniere LNG Trading and Marketing, Inc. will serve as purchaser of the LNG and as marketer of the natural gas to a pool of North American buyers.
The Abraham Group, LLC, is a Washington, D.C. based international strategic consulting firm that specializes in assisting clients seeking opportunities in the international energy sector. The firm's Chairman & CEO, Mr. Spencer Abraham, served as U.S. Secretary of Energy from 2001 - 2005 and as a U.S. Senator from 1995 - 2001. His associates include Mr. Joseph McMonigle, the firm's president, who was former Chief of Staff at the U.S. Department of Energy and Vice Chairman of the International Energy Agency Board of Governors; and Ms. Majida Mourad, the firm's Vice President, who served as Senior Advisor to the Secretary as a lead Department representative on international energy matters focusing on U.S. work in the Middle East, Australia, and Russia as well as various European and Asian countries.
Cheniere Energy, Inc. is a Houston based energy company engaged in developing LNG receiving terminals and Gulf of Mexico exploration & production. Cheniere is building a 100% owned Gulf Coast LNG receiving terminal near Sabine Pass in Cameron Parish, LA. It is also developing 100% owned Gulf Coast LNG receiving terminals near Corpus Christi, TX, and near the Creole Trail in Cameron Parish, LA. Cheniere is a 30% limited partner in Freeport LNG Development, L.P., which is building an LNG receiving terminal in Freeport, Texas. Cheniere explores for oil and natural gas in the Gulf of Mexico using a regional database of 7,000 square miles of PSTM 3D seismic data. Additional information about Cheniere Energy, Inc. may be found on its web site at www.cheniere.com.