Cheniere Energy Inc. said Tuesday it has acquired BPU LNG Inc. in exchange for 1,000,000 restricted shares of Cheniere common stock. BPU LNG’s sole asset is a 33.3% limited partner interest in Corpus Christi LNG LP. As a result of the acquisition, Cheniere said it now controls 100% of the Corpus LNG limited partner interests. In December of 2003, Corpus Christi LNG filed with the Federal Energy Regulatory Commission (FERC) for a permit to build and operate a liquefied natural gas receiving terminal near the city of Corpus Christi, TX with daily processing capacity of 2.6 Bcf. In November of 2004, FERC issued a draft Environmental Impact Statement (EIS) concluding that approval of the proposed project, with appropriate mitigating measures as recommended, would have limited adverse environmental impact. Cheniere said it anticipates that FERC will issue a final EIS and grant its permit in the near future. In addition to the Corpus Christi facility, the Houston-based company is developing Gulf Coast LNG receiving terminals near Sabine Pass in Cameron Parish, LA and near the Creole Trail in Cameron Parish, LA. Cheniere is also a 30% limited partner in Freeport LNG Development LP., which is building an LNG receiving terminal in Freeport, TX.

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