Cheniere Energy Partners, L.P. (CQP) Affirms LNG Expansion Plan at SPL Expansion Project

Cheniere Energy Partners, L.P. (NYSE:CQP) is one of the best energy dividend stocks to invest in now.

On May 28, Cheniere Energy Partners, L.P. (NYSE:CQP) confirmed that its subsidiary, Sabine Pass Liquefaction, has entered into an engineering, procurement, and construction contract with Bechtel Energy. The lump-sum agreement covers the first phase of the SPL Expansion Project, which is being developed for up to three large-scale liquefaction trains.

Upon completion, the SPL project will have a peak production capacity of up to 20 million tonnes per annum. Phase 1 is commercially underpinned by long-term agreements and is expected to have a total LNG production capacity of over 6 mtpa. Cheniere Partners expects to reach a financial investment decision on Phase 1 by early 2027.

Meanwhile, Chenier priced $2 billion of senior notes with an interest rate of 5.35% per annum. The company is to use net proceeds from the offering to finance general partnership purposes, including debt repayment and capital expenditures.

Cheniere Energy Partners, L.P. (NYSE:CQP) is a master limited partnership (MLP) that processes and exports Liquefied Natural Gas (LNG). It owns and operates the Sabine Pass LNG terminal in Louisiana, one of the largest LNG export facilities in the world, which supercools natural gas into a liquid state so it can be shipped globally to utilities and energy companies.

READ NEXT: 8 Mining Stocks with the Highest Dividends and 10 UK Stocks with the Highest Dividends.

Disclosure: None. Follow Insider Monkey on Google News.