Cheniere seeks funding for LNG projects
     Cheniere Energy said Tuesday it has hired HSBC Securities and Petrie Parkman to help the liquefied natural gas terminal developer obtain about $1 billion for regasification plants it wants to build at Corpus Christi, Texas, and Sabine Pass, La. Both $450 million projects would have peak throughput capacities of 2.6 Bcf/day.
     "In the next 18 months, we are looking to arrange funding through a combination of debt and equity of approximately $1 billion for our LNG regasification facilities at Corpus Christi and Sabine Pass," said Charif Souki, Cheniere's chairman and CEO. Funds would also be used to "provide support" to a proposed 1.5 Bcf/day LNG terminal in Freeport, Texas, in which Cheniere holds a 30% stake.
     Houston-based Cheniere in May awarded front-end engineering design contracts for the Sabine Pass and Corpus Christi terminals to Black & Veatch Pritchard. Cheniere also said it planned to submit applications with the FERC for construction of both facilities in January 2004.