LNG A BRIDGE TO OUR ENERGY FUTURE

2 This presentation contains certain statements that are, or may be deemed to be, “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. All statements, other than statements of historical facts, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things:  statements that we expect to commence or complete construction of each or any of our proposed liquefied natural gas, or LNG, receiving terminals by certain dates, or at all;  statements that we expect to receive authorization from the Federal Energy Regulatory Commission, or FERC, to construct and operate proposed LNG receiving terminals by a certain date, or at all;  statements regarding future levels of domestic natural gas production and consumption, or the future level of LNG imports into North America, or regarding projected future capacity of liquefaction or regasification facilities worldwide regardless of the source of such information;  statements regarding any financing transactions or arrangements, whether on the part of Cheniere or at the project level;  statements relating to the construction of our proposed LNG receiving terminals, including statements concerning estimated costs, and the engagement of any EPC contractor;  statements regarding any Terminal Use Agreement, or TUA, or other commercial arrangements presently contracted, optioned, marketed or potential arrangements to be performed substantially in the future, including any cash distributions and revenues anticipated to be received; statements regarding the commercial terms and potential revenues from activities described in this presentation;  statements regarding the commercial terms or potential revenue from any arrangements which may arise from the marketing of uncommitted capacity from any of the terminals, including the Creole Trail and Corpus Christi terminals which do not currently have contractual commitments;  statements regarding the commercial terms or potential revenue from any arrangement relating to the proposed contracting for excess or expansion capacity for the Sabine Pass LNG Terminal or the Indexed Purchase Agreement (“IPA”) Examples described in this presentation;  statements that our proposed LNG receiving terminals, when completed, will have certain characteristics, including amounts of regasification and storage capacities, a number of storage tanks and docks and pipeline interconnections;  statements regarding Cheniere and Cheniere Marketing forecasts, and any potential revenues and capital expenditures which may be derived from any of Cheniere business groups;  statements regarding Cheniere Pipeline Company, and the capital expenditures and potential revenues related to this business group; statements regarding our proposed LNG receiving terminals’ access to existing pipelines, and their ability to obtain transportation capacity on existing pipelines;  statements regarding possible expansions of the currently projected size of any of our proposed LNG receiving terminals;  statements regarding the payment by Cheniere Energy Partners, L.P. of cash distributions;  statements regarding our business strategy, our business plan or any other plans, forecasts, examples, models, forecasts or objectives; any or all of which are subject to change;  statements regarding estimated corporate overhead expenses; and  any other statements that relate to non-historical information. These forward-looking statements are often identified by the use of terms and phrases such as “achieve,” “anticipate,” “believe,” “estimate,” “example,” “expect,” “forecast,” “opportunities,” “plan,” “potential,” “project,” “propose,” “subject to,” and similar terms and phrases. Although we believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in “Risk Factors” in the Cheniere Energy, Inc. Annual Report on Form 10-K for the year ended December 31, 2006, which are incorporated by reference into this presentation. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these ”Risk Factors”. These forward-looking statements are made as of the date of this presentation, and we undertake no obligation to publicly update or revise any forward-looking statements. Safe Harbor Act

3 CERA/IHS: North American Production Not $10/Mcf Lower 48 & Canada Productive Capacity $ 4.00$ 6.00$ 8.00$ Note: Prices for a 10% rate of return

4 Rockies Arctic Gas Deep Gulf LNGLNGLNGLNG New Supply Must Come from New Areas… “Our limited capacity to import liquefied natural gas effectively restricts our access to the world’s abundant supplies of natural gas” Alan Greenspan, Former Federal Reserve Chairman, May 21, 2003 “Our limited capacity to import liquefied natural gas effectively restricts our access to the world’s abundant supplies of natural gas” Alan Greenspan, Former Federal Reserve Chairman, May 21, 2003 “Building LNG terminals is one thing that we can do and we should continue to do to create a more global market for natural gas,” Ben Bernanke, Federal Reserve Chairman, February 15, 2006 “Building LNG terminals is one thing that we can do and we should continue to do to create a more global market for natural gas,” Ben Bernanke, Federal Reserve Chairman, February 15, 2006 “We've got to make sure that we have enough natural gas to meet our home heating and industrial needs. And one of the best ways to secure supply is to expand our ability to receive liquefied natural gas.” President Bush, February 20, 2006 “We've got to make sure that we have enough natural gas to meet our home heating and industrial needs. And one of the best ways to secure supply is to expand our ability to receive liquefied natural gas.” President Bush, February 20, 2006

5  LNG is natural gas that has been super-cooled to -260°F and changed from gas to liquid  Liquefaction reduces volume by 600-to-1  Stored cold in insulated containers at near atmospheric pressure  Safe to store and transport  LNG is colorless, odorless, non-corrosive, and non-toxic  Becomes lighter than air when vaporized What Is Liquefied Natural Gas (LNG)?

6 Production and Imports vs. Consumption Replace production decline + consumption growth ~ 15 Bcf/d Forecast at average $6.00 HH per MMBtu Source: Lower- 48: IHS 2006; Canadian Imports & Consumption: EIA, AEO Bcf/d 3 Bcf/d Dry ProductionPipe ImportsLNG ImportsConsumption Lower- 48 Production Canadian Imports LNG

7 New Liquefaction Competes for Market Share Atlantic Basin 12 Bcf/d Atlantic Basin 12 Bcf/d ME Gulf 11 Bcf/d ME Gulf 11 Bcf/d Asia Pacific 13 Bcf/d Asia Pacific 13 Bcf/d 2005 Europe 4.7 Bcf/d 2005 Europe 4.7 Bcf/d Bcf/d Bcf/d 2005 NA 1.8 Bcf/d 2005 NA 1.8 Bcf/d 2010 Liquefaction Capacity 2005 Consumption Bcf/d Liquefaction Capacity Existing Liquefaction Under Construction Proposed Liquefaction Source: CERA, Cheniere Research

8 Major Players – Global LNG Supply Qatar Nigeria Russia Australia Indonesia Algeria Trinidad Malaysia Egypt Other Iran Tier 1 Tier 2 Tier 3 Tier 3 = Oman, Brunei, Yemen, Norway, Libya, Eq.Guinea, Abu Dhabi, Angola, Peru, USA ? Bcf/d Source: Cheniere Research

9 Liquefaction Growth Global liquefaction capacity in 2005 was 23 Bcf/d Liquefaction in 2010 is estimated to be 36 Bcf/d Growth in liquefaction is 13 Bcf/d Where will it go?

10 NYMEX vs. NBP – May 30, 2007 Historical Data Futures as of 05/30/07

11 LNG Trade Today Source: CERA, 2006

12 LNG Trade 2010 Source: CERA, 2006

13 Everett Cove Point Elba Island Lake Charles Sabine Pass Freeport Golden Pass Cameron Costa Azúl Canaport Existing Under Construction Altamira Source: Websites of Terminal Owners, Wood Mackenzie Limited, Poten & Partners Terminal Capacity Holder Baseload Sendout (MMcf/d) Canaport 1,000 Irving, Repsol Everett - Suez 700 Cove Point 1,800 BP, Statoil, Shell Elba Island 800 BG, Marathon, Shell Lake Charles - BG 1,800 Freeport 1,500 ConocoPhillips, Dow Sabine Pass 4,000 Total, Chevron, Cheniere Cameron 1,500 Sempra, ENI Golden Pass 2,000 EOM, ConocoPhillips, QP Altamira 700 Shell, Total Costa Azul1,000 Shell, Sempra Total 16,800 North America Onshore Regasification Capacity By Bcf/d North American Atlantic Basin 65% utilization = 10.3 Bcf/d

14 LNG IMPORTS BENEFIT THE STATES  Increased supply results in downward pressure on price.  Gas is the near term fuel for electric generation as coal plants are canceled across the nation and nuclear plants are slow to develop.  Renewable energy is years away from making a substantial impact in the total amount of power.  Gas is the cleanest fossil fuel.  Gas is vital for industrial processes.

15 Industrial Sector Gas Consumption Manufacturing - Detail Source: EIA, Manufacturing Energy Consumption Survey, 2002 Bcf ,000 1,500 2,000 2,500 ChemicalsPetroleum & Coal Primary Metals FoodPaperNonmetallic Mineral Fabricated Metal Transportation Equipment Plastics & Rubber 2, Total Industrial Market 6.3 Tcf (17.2 Bcf/d) Total Industrial Market 6.3 Tcf (17.2 Bcf/d) 2002

Top 5 Coastal Consumers TX, CA, LA, NY, FLA Source: EIA, Natural Gas Annual 2006 In Bcf/d Logic Of U.S. Gulf Coast As Preferred Destination  Depth of U.S. Gulf Coast market  Pipeline takeaway to all major North American markets  Complimentary seasonal peak  Depth of U.S. Gulf Coast market  Pipeline takeaway to all major North American markets  Complimentary seasonal peak Creole Trail Sabine Pass Corpus Christi 1010

17 GETTING REAL ABOUT THE ENVIRONMENT  The McCain – Lieberman Climate Act (S.280)estimate a reduction in natural gas consumption by  Also an addition of 145 new Nuclear power plants.  Wind generation of 38GW. 2X historical build rate.  Biomass generation growing from 2GW. To 112GW.  Today wind and solar together account for ½ of 1%.  The Natural gas Council estimates gas consumption will in fact increase 20% from 2019 to  Global CO2 emissions are growing faster in nondeveloped countries than in the developed world.

18 WHAT ROLE FOR THE STATES?  Promote diverse energy portfolios that include LNG as a key component.  Support longer term contracts for LDCs that attract LNG supplies.  Recognize the global supply market and become a player.  Encourage realistic Greenhouse Gas assumptions.

19 4 Deep water channels 7 Unloading Docks 15 Storage Tanks (51 Bcf equivalent) 11.4 Bcf/d Regas Capacity Cheniere LNG Receiving Terminals Creole Trail 3.3 Bcf/d Freeport (30%) 1.5 Bcf/d Under Construction Corpus Christi 2.6 Bcf/d 274 Miles of pipeline ” diameter 20 Bcf/d interconnect capacity Northeast Midwest & Canada Mexico Southeast Gulf Coast Cheniere’s receipt network provides high reliability and liquidity Fully Permitted Sabine Pass 4.0 Bcf/d Under Construction

20 Sabine Pass Terminal Construction January 2008