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    Michael Lapides

    Research Analyst at Goldman Sachs

    Michael Lapides's questions to Cheniere Energy Partners (CQP) leadership

    Michael Lapides's questions to Cheniere Energy Partners (CQP) leadership • Q2 2022

    Question

    Michael Lapides from Goldman Sachs asked about the NESHAP compliance issue, the future of coal generation in Asia based on customer conversations, and the market liquidity for hedging open LNG capacity for the winter of 2023-2024.

    Answer

    President and CEO Jack Fusco stated a consent decree is a logical path for NESHAP compliance if needed. He and EVP and CCO Anatol Feygin noted Asian customers value the reliability and lower, stable pricing of long-term Henry Hub contracts over volatile spot LNG or coal. EVP and CFO Zach Davis explained that long-term financial hedging is currently unrealistic due to volatility, so the focus is on physical sales to creditworthy counterparties.

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    Michael Lapides's questions to Cheniere Energy Partners (CQP) leadership • Q3 2020

    Question

    Michael Lapides of Goldman Sachs asked about the drivers behind the repeated increases in per-train production guidance and whether similar debottlenecking potential exists across the broader LNG industry.

    Answer

    President & CEO Jack Fusco credited the outperformance to his experienced operations team, maintenance optimization, and the unique advantage of controlling the full value chain, including gas procurement. He noted there is still more room for improvement but refrained from commenting on competitors' potential.

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