Cheniere Finds Funding for LNG Export Terminal

By BEN LEFEBVRE July 12, 2012, 5:24 p.m. ET

Cheniere Energy said Thursday it expects to receive about $3.4 billion in financing by month's end for what could be the first liquefied-natural-gas export facility in the continental U.S.

An export facility in the lower 48 states will allow U.S. natural-gas producers to export the fuel, which has become plentiful as new drilling techniques have unlocked gas in shale formations throughout the country.

Cheniere's financing from eight banks, together with $2 billion in equity the company offered in May, will allow it to export 1.1 billion cubic feet a day of LNG from its Sabine Pass, La., terminal by the end of 2015.

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