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Gold/Mining/Energy : LNG -- Ignore unavailable to you. Want to Upgrade?

To: Dennis Roth who wrote (33)	1/21/2004 8:52:17 PM
From: DHB	Read Replies (2) \| Respond to of 919

All Headlines January 21, 2004 06:33 PM US Eastern Timezone J&S Cheniere SA Signs Transportation Agreement with Sonatrach HOUSTON--(BUSINESS WIRE)--Jan. 21, 2004--Cheniere Energy Inc. (AMEX:LNG) announced today that J&S Cheniere SA and Sonatrach signed a transportation agreement aimed at optimizing the use of the Tenaga Empat LNG carrier. J&S Cheniere SA is a Switzerland-based company in which Cheniere Energy Inc. holds a minority interest. J&S Cheniere SA chartered the vessel from Malaysia International Shipping Corporation Berhad in August of 2003. During the life of the Sonatrach agreement, the two companies will operate the vessel jointly and will endeavor to find the most profitable routes for the vessel which is destined to be used mostly as a trading vehicle rather than as a part of a specific project. Cheniere Energy's Chairman & CEO, Charif Souki, said, "We are extremely pleased to work with Sonatrach, which is one of the pioneers of the LNG industry. Sonatrach has been producing and delivering LNG to most destinations of the world for decades. As future operators of LNG receiving terminals, we feel that the experience we gain by operating the Tenaga Empat jointly with Sonatrach's expert teams will be very valuable for Cheniere. "Cheniere, Sonatrach and J&S Cheniere SA have been discussing several areas of cooperation for some time now and it is hoped that this is the beginning of an expanding relationship between these companies." Cheniere Energy Inc. is a Houston-based developer of LNG receiving terminals and a Gulf of Mexico E&P company. Cheniere is developing Gulf Coast LNG receiving terminals in Sabine Pass, La., and Corpus Christi, Texas. Cheniere is also a 30% limited partner in Freeport LNG Development, L.P., which is developing an LNG receiving terminal in Freeport, Texas. Cheniere conducts exploration for oil and gas in the Gulf of Mexico using a regional database of 7,000 square miles of PSTM 3D seismic data. Cheniere also owns 9% of Gryphon Exploration Company, along with Warburg, Pincus Equity Partners, L.P. which owns 91%. J&S Cheniere SA was formed for the purpose of buying, selling and trading liquefied natural gas ("LNG"). Cheniere's partner in the venture, J&S Services & Investment, is a private corporation engaged in petroleum and commodity trading. Additional information about Cheniere Energy Inc. may be found on its Web site at www.cheniere.com, by contacting the company's investor and media relations department toll-free at 888-948-2036 or by writing to: LNG@MDCGroup.com. Except for the historical statements contained herein, this news release presents forward-looking statements that involve risks and uncertainties. Although the company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Certain risks and uncertainties inherent in the company's business are set forth in the company's periodic reports that are filed with and available from the Securities and Exchange Commission. Contacts MDC Group David E. Castaneda, 888-948-2036 LNG@MDCGroup.com Print this release -------------------------------------------------------------------------------- Terms of Use \| © Business Wire 2004 --------------------------------------------------------------------------------