Document:

CQP 2013 1st Qtr Ex 10.1

EXHIBIT 10.1

AMENDMENT NO. 1 OF LNG SALE AND PURCHASE AGREEMENT
THIS AMENDMENT NO. 1 OF LNG SALE AND PURCHASE AGREEMENT ("Amendment") is made and entered into as of April 03, 2013 (the "Amendment Effective Date"), by and between Sabine Pass Liquefaction, LLC, a Delaware limited liability company whose principal place of business is located at 700 Milam St., Suite 800, Houston, TX 77002 ("Seller"), and Gas Natural Aprovisionamientos SDG S.A., a corporation  whose principal place of business is located at Avenida de América no38 Madrid Spain ("Buyer").  Buyer and Seller are each referred to herein as a "Party" and collectively as the "Parties".
Recitals
		
	(A)
	Seller and Buyer are parties to that certain LNG Sale and Purchase Agreement dated as of November 21, 2011 ("Agreement"); and

		
	(B)
	Seller and Buyer desire to amend the Agreement to establish rights and obligations of each Party in respect of certain cargoes of LNG for delivery prior to the Date of First Commercial Delivery.

It is agreed:
1.Definitions
Capitalized terms used in or incorporated into this Amendment and not otherwise defined herein have the meanings given to them in the Agreement.
		
	2.
	Amendments

		
	2.1.
	Section 1.1 of the Agreement is amended by deleting in its entirety the definition of "Delivery Window", and the following definition is inserted in lieu thereof:

		
	Delivery Window:
	a twenty-four (24) hour period starting at 6:00 a.m. on a specified Day and ending twenty-four (24) consecutive hours thereafter that is allocated to Buyer under the ADP or Ninety Day Schedule or as identified in a notice from Seller to Buyer pursuant to Section 4.5.2 or 4.5.3, as applicable;

		
	2.2.
	Section 1.1 of the Agreement is further amended by deleting in its entirety the definition of "Designated Train", and the following definition is inserted in lieu thereof:

		
	Designated Train:
	with respect to the two LNG production trains to be constructed at the Sabine Liquefaction Facility pursuant to the Lump Sum Turnkey Agreement for the

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Engineering, Procurement and Construction of the Sabine Pass LNG Liquefaction Facility dated November 11, 2011, between Seller and Bechtel Oil, Gas and Chemicals, Inc., the second (2nd) such train that becomes commercially operable, as determined in accordance with Section 4.3.6, including those facilities included in the Sabine Pass Facility that are necessary to enable Seller to fulfill its obligations to Buyer from such LNG production train;
		
	2.3.
	Section 1.1 of the Agreement is further amended by the addition of the following new definition:

Pre-commercial LNG:        as defined in Section 4.5.1;
		
	2.4.
	Section 1.1 of the Agreement is further amended by deleting in its entirety the definition of "Scheduled Cargo Quantity", and the following definition is inserted in lieu thereof:

		
	Scheduled Cargo Quantity:
	the quantity of LNG (in MMBtus) identified in the ADP or Ninety Day Schedule to be loaded onto an LNG Tanker in a Delivery Window in accordance with Section 8 or as provided pursuant to Section 4.5.2 or 4.5.3, as applicable;

		
	2.5.
	Each of Sections 4.3.2, 4.3.3, 4.3.4, and 4.3.5 of the Agreement is deleted in its entirety, and in each such Section, the words "Intentionally omitted." are inserted in lieu thereof. 

		
	2.6.
	A new Section 4.5 is added to the Agreement as follows:

4.5    Early Cargoes
		
	4.5.1
	If and to the extent Seller determines, acting reasonably (taking into account the uncertainty of producing and delivering any cargo prior to the Date of First Commercial Delivery), that the Designated Train is capable of producing LNG complying with the Specifications prior to the start of the First Contract Year ("Pre-commercial LNG"), then Seller shall offer to Buyer (a) the first two hundred eighty-five thousand (285,000) MMBtu per Day of Pre-commercial LNG produced by the Designated Train on any Day that is on or prior to the last Day of the Final Window Period, and (b) the first five hundred thousand (500,000) MMBtu per Day of Pre-commercial LNG produced by the Designated Train on any Day that is after the last Day of the Final Window Period; provided

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 that such Pre-commercial LNG is to be allocated and scheduled for delivery in full cargo lots which shall be no less than three million one hundred thousand (3,100,000) MMBtus and no greater than three million seven hundred fifty thousand (3,750,000) MMBtus.
		
	4.5.2
	If Seller offers a Pre-commercial LNG cargo to Buyer and such offer indicates a Delivery Window in respect of such Pre-commercial LNG cargo that is at least sixty (60) Days from the date of such Seller's offer, then:

		
	(a)
	Buyer may reject such offer within five (5) Days after receipt of Seller's offer, in which case (A) Buyer will pay to Seller in accordance with Section 10.2.5 an amount equal to USD two decimal forty-nine (USD 2.49) per MMBtu multiplied by the quantity (in MMBtu) rejected by Buyer and (B) neither Buyer nor Seller shall have any further liability to the other Party with respect to such Pre-commercial LNG cargo; or

		
	(b)
	Buyer may accept such offer, in which case, Buyer shall purchase and take (subject to Buyer's Cancellation Right), and Seller shall sell and make available, such Pre-commercial LNG cargo during such Delivery Window and otherwise in accordance with the terms of this Agreement (provided that (A) the price to be paid by Buyer for such Pre-commercial LNG cargo, including in the event Buyer exercises its Cancellation Right in respect of such cargo, shall be as set forth in Section 4.5.4 and (B) the Scheduled Cargo Quantity for such Pre-commercial LNG cargo shall be the quantity identified in Buyer's acceptance of such offer subject to such quantity being no less than three million one hundred thousand (3,100,000) MMBtus and no greater than three million seven hundred fifty thousand (3,750,000) MMBtus).

		
	4.5.3
	If Buyer receives an offer for a Pre-commercial LNG cargo from Seller less than sixty (60) Days prior to the proposed Delivery Window for such cargo, Buyer shall use reasonable efforts (taking into account, among other things, the availability of shipping capacity within Buyer's shipping fleet) to accept such offer and shall, not later than five (5) Days after receipt of such Seller's offer, provide Seller with notice as to whether Buyer is able, using such reasonable efforts, to accept such offer.  If Buyer accepts such offer, then Buyer shall purchase and take (subject to Buyer's Cancellation Right), and Seller shall sell and make available, such Pre-commercial LNG cargo during the Delivery Window

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 identified in Seller's offer and otherwise in accordance with the terms of this Agreement (provided that (A) the price to be paid by Buyer for such Pre-commercial LNG cargo, including in the event Buyer exercises its Cancellation Right in respect of such cargo, shall be as set forth in Section 4.5.4 and (B) the Scheduled Cargo Quantity for such Pre-commercial LNG cargo shall be the quantity identified in Buyer's acceptance of such offer subject to such quantity being no less than three million one hundred thousand (3,100,000) MMBtus and no greater than three million seven hundred fifty thousand (3,750,000) MMBtus).  If Buyer does not accept such offer, then neither Buyer nor Seller shall have any further liability to the other Party with respect to such Pre-commercial LNG cargo.
		
	4.5.4
	The price in respect of any Pre-commercial LNG cargo purchased by Buyer pursuant to Section 4.5.2(b) or Section 4.5.3 shall be an amount in USD per MMBtu equal to the sum of (i) one decimal fifteen (1.15) multiplied by HH, plus (ii) USD two decimal forty-nine (USD 2.49).  With respect to any Pre-commercial LNG cargo in relation to which (A) Buyer has accepted the relevant offer pursuant to Section 4.5.2(b) or Section 4.5.3, and (B) Buyer has exercised its Cancellation Right with respect to such Pre-commercial LNG cargo: (1) Buyer will pay to Seller in accordance with Section 10.2.5 an amount equal to USD two decimal forty-nine (USD 2.49) per MMBtu multiplied by the quantity identified in Seller's offer for such Pre-commercial LNG cargo and (2) neither Buyer nor Seller shall have any further liability to the other Party with respect to such Pre-commercial LNG cargo.

		
	4.5.5
	Upon the occurrence of the Date of First Commercial Delivery, Seller shall no longer be obligated to offer Pre-commercial LNG to Buyer.  The provisions of Section 9 shall not apply with respect to Pre-commercial LNG cargoes.

		
	2.7.
	Section 5.6.1 of the Agreement is deleted in its entirety, and the following Section 5.6.1 is inserted in lieu thereof:

		
	5.6.1
	Buyer may cancel all or any portion of the Scheduled Cargo Quantity of any cargo(es) scheduled in any ADP (or any Pre-commercial LNG cargo) ("Cancellation Right") only if Buyer issues a notice of cancellation to Seller on or prior to the Cancellation Deadline for the applicable cargoes.  

		
	2.8.
	Section 9.3 of the Agreement is amended by deleting the words "per MMBtu".

		
	2.9.
	All provisions of the Agreement not specifically amended hereby shall remain in full force and effect.

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	3.
	Miscellaneous

		
	3.1.
	Dispute Resolution; Immunity.  The provisions of Section 21.1 (Dispute Resolution) and Section 21.4 (Immunity) of the Agreement shall apply in this Amendment as if incorporated herein mutatis mutandis on the basis that references therein to the Agreement are to this Amendment.

		
	3.2.
	Governing Law.  This Amendment shall be governed by and construed in accordance with the laws of the State of New York (United States of America) without regard to principles of conflict of laws that would specify the use of other laws.

		
	3.3.
	Entire Agreement.  The Agreement, as amended by this Amendment, constitutes the entire agreement between the Parties and includes all promises and representations, express or implied, and supersedes all other prior agreements and representations, written or oral, between the Parties relating to the subject matter thereof. 

		
	3.4.
	Amendments and Waiver.  This Amendment may not be supplemented, amended, modified or changed except by an instrument in writing signed by Seller and Buyer and expressed to be a supplement, amendment, modification or change to the Agreement.  A Party shall not be deemed to have waived any right or remedy under this Amendment by reason of such Party's failure to enforce such right or remedy.

		
	3.5.
	Counterparts.  This Amendment may be executed in two counterparts and each such counterpart shall be deemed an original Amendment for all purposes, provided that neither Party shall be bound to this Amendment unless and until both Parties have executed a counterpart. 

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IN WITNESS WHEREOF, the Parties hereto have executed this Amendment as of the date first above written.

	
			
	SELLER:
	 
	BUYER:

	

	 
	 

	SABINE PASS LIQUEFACTION, LLC
	 
	GAS NATURAL APROVISIONAMIENTOS

	 
	 
	SDG S.A.

	 
	 
	 

	/s/ H.D. Thames
	 
	/s/  José Ma. Egea Krauel

	Name: H. Davis Thames
	 
	Name: José Ma. Egea Krauel

	Title:   Executive Vice President
	 
	Title:   Managing Director of Energy Planning

-6-CQP 2013 1st Qtr Ex 10.2

EXHIBIT    10.2

CHANGE ORDER FORM
Tank 106 Scope Deletion and Ultrasonic Metering Configuration and Calibration 

	
		
	PROJECT NAME:  Sabine Pass LNG Liquefaction Facility

OWNER:  Sabine Pass Liquefaction, LLC

CONTRACTOR:  Bechtel Oil, Gas and Chemicals, Inc.

DATE OF AGREEMENT: November 11, 2011
	CHANGE ORDER NUMBER: CO-00019

DATE OF CHANGE ORDER: February 27, 2013

The Agreement between the Parties listed above is changed as follows:  (attach additional documentation if necessary) 

		
	1.
	Per Article 6.1.B of the Agreement, Parties agree Bechtel will eliminate any scope with regards to Tank 106 installation.  

		
	a.
	The scope of work details which will remain despite the deletion include:

		
	i.
	Soil stabilization inside Tank 6 is to be at a 3 foot depth, including the area/volume under the dikes.

		
	ii.
	Soil improvement to include 5 feet stabilization depth at south pipe rack.

		
	iii.
	Add fill, grade, and drain.

		
	iv.
	Fencing modification needed to protect south pipe rack (21R02) due to Tank 106 deletion.

		
	b.
	Clarifications and Exclusions:

		
	i.
	The design of the BOG system remains unchanged.  The capacity associated with LNG Tank S-106, 8% of 48,400 lb/hr (27 MMscfd), will be retained as margin for the BOG system.

		
	2.
	Per Article 6.1.B of the Agreement, Parties agree Bechtel will provide calibration of Ultrasonic meters and engineering support/design modifications.  

		
	a.
	The scope of work includes:

		
	i.
	Calibrating the USM with the meter tubes.

		
	ii.
	Provide meter assembly per AGA standard configuration.  Per AGA 9 on the uni-directional meter, there is to be 10 diameters from the meter inlet to the flow conditioner; 10 diameters from the flow conditioner to the meter body; and 5 diameters from the meter body to the first disturbance.

		
	iii.
	Calibration to be conducted at CEESI or TransCanada

		
	b.
	Clarifications:

		
	i.
	The meter shall be calibrated as an "artifact" with upstream/downstream piping, flow conditioners, transducers, and tees in place.

		
	ii.
	Piecewise linearization as the calibration method.

		
	iii.
	Log files to be collected throughout the process.

		
	iv.
	Tests at flow points of 2, 5, 10, 25, 40, 55, 70, and 100 fps with 6 repeats.

		
	3.
	This Contract Change Order will decrease the Contract price by an amount of $7,241,593.  The breakdown of this amount is a $2,278,663 lump sum decrease and a $4,962,930 decrease in aggregate provisional sum as noted in item 6 of this Change Order.   Accordingly, the Agreement is modified as follows:

		
	a.
	Schedule C-1 (Milestone Payment Schedule) of Attachment C of the Agreement will be amended by including the Milestone(s) listed in Exhibit A of this Change Order.

		
	4.
	The previous Existing Facility Labor Provisional Sum in Article 2.2 of Attachment EE of the Agreement was *** U.S. Dollars ($***) and *** hours.  This Change Order will amend the previous values respectively to *** ($***) and *** hours.

		
	5.
	The previous Soils Provisional Sum in Article 2.1 of Attachment EE of the Agreement after the executed Change Order CO-0007, dated July 13, 2012, was *** ($***).  This Change Order will amend the previous value and reduce the value by $***.  The new Soils Provisional Sum is now *** ($***).

		
	6.
	The previous Aggregate Provisional Sum after Change Order CO-00018, dated January 17, 2013, was Two Hundred Sixty Three Million, Six Hundred Sixty Seven Thousand, Three Hundred Ninety One U.S. Dollars ($263,667,391).  This Change Order will amend that value and the new value shall be Two Hundred Fifty Eight Million, Seven Hundred Four Thousand,  Four Hundred Sixty One U.S. Dollars ($258,704,461).

		
	7.
	The overall cost breakdown data for all changes is provided in Exhibit B of this Change Order.

		
	8.
	The cost breakdown data for the addition of the Ultrasonic Metering Configuration and Calibration is provided in Exhibit C of this Change Order.

		
	9.
	The cost breakdown data for the Tank 106 Scope Deletion is provided in Exhibit D of this Change Order.

Adjustment to Contract Price
The original Contract Price was ...............................................................................................................................$3,900,000,000
Net change by previously authorized Change Orders (#0001-00018) .....................................................................$     72,541,501
The Contract Price prior to this Change Order was ..................................................................................................$3,972,541,501
The Contract Price will be (decreased) by this Change Order 
in the amount of     ......................................................................................................................................................$       7,241,593
The new Contract Price including this Change Order will be ..................................................................................$3,965,299,908

Adjustment to dates in Project Schedule
The following dates are modified (list all dates modified; insert N/A if no dates modified): No impact to Project Schedule.

Adjustment to other Changed Criteria (insert N/A if no changes or impact; attach additional documentation if necessary) 

Adjustment to Payment Schedule: Yes.  See sections 3, 4, 5, 6, 7 and Exhibits A, B, C, and D of this Change Order.

Adjustment to Minimum Acceptance Criteria: N/A

Adjustment to Performance Guarantees: N/A

Adjustment to Design Basis: N/A

Other adjustments to liability or obligation of Contractor or Owner under the Agreement: N/A

Select either A or B:
[A] This Change Order shall constitute a full and final settlement and accord and satisfaction of all effects of the change reflected in this Change Order upon the Changed Criteria and shall be deemed to compensate Contractor fully for such change.  Initials:  ____ Contractor  ____ Owner

[B] This Change Order shall not constitute a full and final settlement and accord and satisfaction of all effects of the change reflected in this Change Order upon the Changed Criteria and shall not be deemed to compensate Contractor fully for such change.  Initials:  ____ Contractor  ____ Owner

Upon execution of this Change Order by Owner and Contractor, the above-referenced change shall become a valid and binding part of the original Agreement without exception or qualification, unless noted in this Change Order.  Except as modified by this and any previously issued Change Orders, all other terms and conditions of the Agreement shall remain in full force and effect.  This Change Order is executed by each of the Parties' duly authorized representatives. 

	
			
	/s/ Ed Lehotsky
	 
	/s/ J. Jackson

	Owner
	 
	Contractor

	Ed Lehotsky
	 
	JT Jackson

	Name
	 
	Name

	VP LNG Project Management
	 
	Sr. Vice President

	Title
	 
	Title

	March 13, 2013
	 
	February 28, 2013

	Date of Signing
	 
	Date of Signing

CHANGE ORDER FORM

Modifications to Full Placement of Insurance Program Language

	
		
	PROJECT NAME:  Sabine Pass LNG Liquefaction Facility

OWNER:  Sabine Pass Liquefaction, LLC

CONTRACTOR:  Bechtel Oil, Gas and Chemicals, Inc.

DATE OF AGREEMENT: November 11, 2011
	CHANGE ORDER NUMBER: CO-00020

DATE OF CHANGE ORDER: March 14, 2013

The Agreement between the Parties listed above is changed as follows:  (attach additional documentation if necessary)

		
	1.
	Sections 1.A.9(e) of Attachment O is hereby amended and restated as follows:

		
	(e)
	Sum Insured:  The insurance policy shall (i) be on a completed value form, with no periodic reporting requirements, (ii) insure not less than $1,000,000,000 commencing at the earlier of LNTP or NTP, and insure no less than an amount to be determined based on probable maximum loss study performed by a reputable and experienced firm reasonably satisfactory to Contractor, Owner, and Owner's Lender's Insurance Advisor, with such maximum probable loss approved by the Parties and such increased amount commencing no later than March 31, 2013 (iii) value losses at replacement cost, without deduction for physical depreciation or obsolesce including custom duties, Taxes and fees and (iv) insure loss or damage from earth movement without a sub-limit, (v) insure property loss or damage from flood and named windstorm with a sub-limit not less than $150,000,000 commencing at the earlier of LNTP or NTP, provided that such sub-limit shall increase to an amount that is not less than $500,000,000 no later than March 31, 2013, and such sub-limit in the event of a named windstorm shall apply to the combined loss covered under Section 1.A.9 Builder's Risk and Section 1.A.10 Builder's Risk Delayed Startup, and (vi) insure loss or damage from strikes, riots and civil commotion with a sub-limit not less than $100,000,000. 

Adjustment to Contract Price

No Adjustment to Contract Price associated with CO-00020

Adjustment to dates in Project Schedule
The following dates are modified (list all dates modified; insert N/A if no dates modified):  N/A

Adjustment to other Changed Criteria: if no changes or impact; attach additional documentation if necessary): N/A

Adjustment to Payment Schedule:  N/A

Adjustment to Minimum Acceptance Criteria: N/A

Adjustment to Performance Guarantees: N/A

Adjustment to Design Basis: N/A

Other adjustments to liability or obligation of Contractor or Owner under the Agreement: N/A

Select either A or B:
[A] This Change Order shall constitute a full and final settlement and accord and satisfaction of all effects of the change reflected in this Change Order upon the Changed Criteria and shall be deemed to compensate Contractor fully for such change.  Initials:  ____ Contractor  ____ Owner

[B] This Change Order shall not constitute a full and final settlement and accord and satisfaction of all effects of the change reflected in this Change Order upon the Changed Criteria and shall not be deemed to compensate Contractor fully for such change.  Initials:  ____ Contractor  ____ Owner

Upon execution of this Change Order by Owner and Contractor, the above-referenced change shall become a valid and binding part of the original Agreement without exception or qualification, unless noted in this Change Order.  Except as modified by this and any previously issued Change Orders, all other terms and conditions of the Agreement shall remain in full force and effect.  This Change Order is executed by each of the Parties' duly authorized representatives. 

	
			
	/s/ Ed Lehotsky
	 
	/s/ Sergio Buoncristiano

	Owner
	 
	Contractor

	Ed Lehotsky
	 
	Sergio Buoncristiano

	Name
	 
	Name

	VP LNG Project Management
	 
	Principal Vice President

	Title
	 
	Title

	March 28, 2013
	 
	March 14, 2013

	Date of Signing
	 
	Date of Signing

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