Cheniere Energy said Monday that it has lined up financing for its 2.6 Bcf/d Sabine Pass LNG terminal, which is expected to be in service in 2007. Cheniere’s limited partnership, Sabine Pass LNG LP, closed a $822 million senior secured credit facility with a syndicate of 47 financial institutions. The credit facility will be used to fund a substantial majority of the costs of constructing the terminal in Cameron Parish, LA. FERC approved the terminal last December. It will be the largest LNG import facility by sendout capacity in North America. Construction is anticipated to start by the end of first quarter of 2005.
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