Under the terms of the note purchase agreement, investment funds managed by EIG will purchase $1.5bn of convertible notes (the financing).
The financing proceeds will be used by Cheniere as equity to fund a part of the costs of developing, building the project and placing it into service.
Construction on the project is due to commence in the first half of 2015 whereas the LNG exports are planned to start as early as 2018.
The financing is due to close once Cheniere reaches a positive final investment decision on the project in the first half of 2015.
Featuring three LNG storage tanks with capacity of 10.1 billion cubic feet equivalent and two LNG carrier docks, the project is being designed and permitted for up to three trains, with aggregate design production capacity of 13.5 million tonnes of LNG a year.
Cheniere received about $11.5bn of debt commitments from various financial institutions in December 2014.
