Ann: Magnolia LNG EPC Contract Extended, page-47

Goodmorning! Thought you all might be interested in the rise of Cheniere Energy's Share Price from when it first floated its stock on the 4/4/1994. On 20/3/2007 it held another IPO before holding a final IPO on 13/12/2013. Included in the SP timeline (@ 6 month intervals) is when BTAs were signed, when construction commenced and when the trains were completed to show the impact these factors had on the SP. Have also highlighted the highest peak of an upward trend & lowest point of a downward trend which is relevant to SP graphs.

4th April 1994 - $24 (USD)
30th Jun 94' - $12
30th Dec 94' - $10
30th Jun 95' - $10.50
29th Dec 95' - $15
28th Jun 96' - $2.12
31st Dec 96' - $7.94
30th Jun 97' - $7.82
31st Dec 97' - $4.12
30th Jun 98' - $4.68
31st Dec 98' - $2
30th Jun 99' - $2.76
31st Dec 99' - $1.44
30th Jun 00' - $1.44
29th Dec 00' - $1.21
29th Jun 01' - $1
31st Dec 01' - $.50
28th Jun 02' - $.65
31st Dec 02' - $.64
30th Jun 03' - $2.26
31st Dec 03' - $5.85
30th Jun 04' - $9.78
31st Dec 04' - $31.85
25th Feb 05' - $37.62  Highest Peak Upward Trend
30th Jun 05' - $31.10
9th Sep 05' - $40.33  Highest Peak Upward Trend
30th Dec 05' - $37.22
28th Apr 06' - $42.85  Highest Peak Upward Trend
30th Jun 06' - $36.96
29th Dec 06' - $28.87
29th Jun 07' - $38.79
2nd Nov 07' - $40.33  Highest Peak Upward Trend
31st Dec 07' - $32.64
30th Jun 08' - $4.37
17th Oct 08' - $1.12  Lowest Point Downward Trend
31st Dec 08' - $2.85
30th Jun 09' - $2.94
31st Dec 09' - $2.42
30th Jun 10' - $2.82
22nd Oct 10' - $2.95  Highest Peak Upward Trend
31st Dec 10' - $5.52
30th Jun 11' - $9.16
26th Oct 11' - BTA signed with BG (now Shell) 3.5mt
21st Nov 11' - BTA signed with Fenosa 3.5mt
11th Dec 11' - BTA signed with GAIL 3.5mt
30th Dec 11' - $8.69
30th Jan 12' - BTA signed with Kogas 3.5mt
1st Feb 12' - BTA signed with BG 2mt
29th Jun 12' $14.74
9th Aug 12' - Commenced construction Sabine Pass Trains 1-4
17th Dec 12' - BTA signed with Total 2mt
30st Dec 12' $18.78
25th Mar 13' - BTA signed with Centrica 1.75mt
28th Jun 13' - $28.26
31st Dec 13' - $43.12
30th Jun 14' - $71.70
19th Sep 14' - $84.16  Highest Peak Upward Trend
31st Dec 14' - $70.40
13th May 15' - Commenced construction Corpus Christi Trains 1-2
30th Jun 15' - $69.26 Commenced construction Sabine Pass Train 5
31st Dec 15' - $37.25
5th Feb 16' - $25.03  Lowest Point Downward Trend
27th May 16' - Sabine Pass Train 1 Substantial Completion/Commissioning  
16th Sep 16' - Sabine Pass Train 2 Substantial Completion/Commissioning
30th Jun 16' - $37.55
30th Dec 16' - $41.43
31st Mar 17' - Sabine Pass Train 3 Substantial Completion/Commissioning
30th Jun 17' - $48.71
29th Dec 17' - $53.84

LNG LTD SP History;


13th Sep 2004 - 20c
31st Dec 04' - 38c
30th Jun 05' - 39c
30th Dec 05' - 47c
30th Jun 06' - 81c
29th Dec 06' - 61c
29th Jun 07' - 64c
31st Dec 07' - 80c
30th Jun 08' - 75c
31st Dec 08' - 75c
30th Jun 09' - 46c
18th Sep 09' - $1.81  Highest Peak Upward Trend
31st Dec 09' - $1.12
30th Jun 10' - 31c
31st Dec 10' - 58c
30th Jun 11' - 35c
30th Dec 11' - 26c
29th Jun 12' - 32c
31st Dec 12' - 32c
28th Jun 13' - 12c
31st Dec 13' - 29c
Apr 14' - Low of 51c High of 68c FERC Application Approved
30th Jun 14' - $2.14
19th Sep 14' - $4.45  Highest Peak  Upward Trend
31st Dec 14' - $2.42
Apr 15' - SER Approved
1st May 15' - $4.90  Highest Peak Upward Trend
30th Jun 15' - $3.81
22nd July 15' - $3.91 Meridian sign binding agreement for 2mt
31st Dec 15' - 80c
15th Apr 16' - 49c  Lowest Point Downward Trend
30th Jun 16' - 72c
30th Dec 16' - 68c
23rd Jan 17' - 96c  Highest Peak Upward Trend/HOA signed with VGS
30th Jun 17' - 56c
27th Sep 17' - 37c  Lowest Point Downward Trend
29th Dec 17' - 43c

On a side note, Brent Crude Oil has hit $70 a barrel... a 3 year high dating back to Dec 2014! While the spot Henry Hub price has hit $3.00/MMBTU for first time since 2014!

Lastly, I'll list all worldwide export projects that reached FID since 2002, giving an indication of volumes per year. This will give you a better understanding of the volumes we can expect from future FIDs when the market gathers speed again and the next wave arrives. During the boom times between 2002-2005 & 2012-2015, 106.1mt & 100.7mt of LNG was sanctioned!

Oman, Qalhat Train 3 3.7mt 2002
Egypt, Idku Train 1 & 2 7.2mt 2002
Nigeria, NLNG Train 4 & 5 8.2mt 2002  
Total 19.1mt
Russia, Sakhalin 2 Train 1 & 2 9.6mt 2003
Australia, Darwin Train 1 3.6mt 2003
Australia, NWS Train 5 4.4mt 2003  
Total 17.6mt
Equatorial Guinea Train 1 3.7mt 2004
Nigeria, NLNG Train 6 4.1mt 2004
Qatar, QatarGas 2 Train 1 & 2 15.6mt 2004  
Total 23.4mt
Qatar, QatarGas 3 Train 1 7.8mt 2005
Qatar, QatarGas 4 Train 1 7.8mt 2005
Indonesia, Tangguh Train 1 & 2 7.6mt 2005
Yemen, Yemen LNG Train 1 7.2mt 2005
Qatar, RasGas 3 Train 6 & 7 15.6mt 2005  
Total 46mt
Algeria, Skikda Train 1 4.5mt 2006  
Total 4.5mt
Australia, Pluto Train 1 4.3mt 2007
Peru, Peru LNG Train 1 4.5mt 2007  
Total 8.8mt
Algeria, Arzew Train 2 4.7mt 2008  
Total 4.7mt
Australia, Gorgon Train 1& 2 10.4mt 2009
Papua New Guinea, PNG LNG Train 1 & 2 7mt 2009  
Total 17.4mt   
Australia, QCLNG Train 1 & 2 8.6mt 2010  
Total 8.6mt
Australia, Gladstone Train 1 & 2 7.8mt 2011
Australia, Pacific Train 1 4.5mt 2011
Australia, Wheatstone Train 1 & 2 9mt 2011
Australia, Prelude Train 1 3.6mt 2011
Indonesia, Donggi-Senoro Train 1 2mt 2011  
Total 26.9mt
Australia, Pacific Train 2 4.5mt 2012
Australia, Ichthys Trains 1 & 2 9mt 2012
Malaysia, PFLNG 1 1.2mt 2012
USA, Sabine Pass Trains 1 & 2 9mt 2012  
Total 23.7mt
Malaysia, Bintulu Train 9 3.6mt 2013
Russia, Yamal Trains 1-3 16.5mt 2013
USA, Sabine Pass Trains 3 & 4 9mt 2013  
Total 29.1mt
USA, Cameron Trains 1-3 12mt 2014
USA, Cove Point Train 1 5.3mt 2014
USA, Freeport Train 1 & 2 8.8mt 2014
Malaysia, PFLNG 2 1.5mt 2014  
Total 27.6mt
USA, Freeport Train 3 4.4mt 2015
USA, Corpus Christi Train 1 & 2 9mt 2015
USA, Sabine Pass Train 5 4.5mt 2015
Cameroon, Kribi Train 1 2.4mt 2015  
Total 20.3mt
USA, Elba Island Train 1 2.5mt 2016
Indonesia, Tangguh Train 3 3.8mt 2016
Russia, Kaliningrad Train 1 2.7mt 2016   
Russia, Sakhalin Train 3 5mt 2016  
Total 14mt
Mozambique, Coral Train 1 3.3mt 2017  
Total 3.3mt

** Overall Total 295mt**

Small projects are going to be the winners; Magnolia 8mt, Fortuna 2.2mt, Woodfibre 2.1mt, Sabine Pass Train 6 4.5mt, Corpus Christi Train 3 4.5mt, Cameron Trains 4 & 5 9mt = 30.3mt Next in line IMO is Delfin 13mt with a project cost of $8 Billion, Anadarko's Mozambique 12mt @ $15 Billion and Golden Pass 15.6mt @ $10 Billion.

Cheers...