LNG (02/09/2018): We believe Cheniere is on cusp of announcing positive FID on CC3

· Following the Trafigura Pte Ltd (Trafigura) contract for 1MM tonnes per annum (MMTPA) of LNG, which was announced on January 16, 2018, LNG signed two contract with China National Petroleum Corporation (CNPC) for 1.2 MMTPA

· Corpus Christi Liquefaction #3 (CCL3) already has a contract with EdP of Portugal for about 0.8MMTPA or about 40MM MMBTU per year

· Combined with the PetroChina contract and the Trafugura contract CCL3 would have close to 70% of its output under contract, which should be enough for LNG to move forward with starting construction on CCL3

· Therefore, we expect a positive FID to be announced sooner than we expected, quite possibly before the end of 1Q2018
Conclusion: We believe that the announcement for the positive FID on CCL3 will serve as an impetus to propel LNG further to the upside

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Flash: LNG Signals positive FID for CCL3 in 1H2018 with Bechtel EPC contract

On Monday, December 18, 2017, Cheniere announced that it signed an approximately $2.36B fixed-price turnkey Engineering, Procurement and Construction (EPC) contract with Bechtel Oil, Gas and Chemical, Inc. (Bechtel) to proceed with the construction of Corpus Christi Train 3 (CCL3), a 4.5MM Metric Ton per Annum (MM MTPA) or about 576MMCF/Day LNG liquefaction facility, by July 5, 2018

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