HOUSTON, Aug. 9, 2012 /PRNewswire/ -- Cheniere Energy Partners, L.P. ("Cheniere Partners") (NYSE MKT: CQP) announced today that it has completed all milestones and has issued a full notice to proceed to Bechtel Oil, Gas and Chemicals, Inc. ("Bechtel") to construct the first two liquefaction trains of the Sabine Pass liquefaction project (the "Liquefaction Project"). The first liquefaction train is expected to start operations as early as 2015, with the second liquefaction train expected to commence operations six to nine months thereafter.

"The Sabine Pass LNG terminal will become the first facility in the contiguous U.S. capable of exporting natural gas as LNG. Two years after announcing our plans to develop the liquefaction facility, we will begin construction. In those two years, we were able to finalize long-term commercial arrangements with four global LNG buyers for over 2 Bcf/d for 20 years, negotiate a construction agreement for the first 1 Bcf/d on a lump sum basis, and most importantly work with governmental agencies at the federal, state and local level to receive all necessary permits to begin construction on a new facility with no precedent in the Lower 48. It is a testament to the flexibility of the U.S. markets and institutions that a small company like ours was able to accomplish so much in a short time," said Charif Souki, Chairman and CEO.

Mr. Souki continued, "We are grateful to the state of Louisiana and its elected leaders - including Governor Jindal and his Cabinet, the entire Congressional delegation, state legislators, and local officials in Cameron Parish for their support in the development of our Liquefaction Project and welcoming Cheniere to Louisiana, and the Louisiana Teachers Retirement System, for being an investor in the project."

David Foley, Senior Managing Director of Blackstone and CEO of Blackstone Energy Partners, said, "We are pleased to provide the growth capital to fund the construction of the first LNG export facility in the continental United States, creating thousands of jobs for American workers and providing significant benefits to the U.S. economy. We look forward to being a value-added, long term partner to Cheniere's outstanding management team as we work together to bring this facility online in a safe, efficient and timely manner."

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