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Cheniere Energy's Sabine Pass LNG export facility in Cameron Parish. Cheniere Energy is investing $1.5 billion to expand the site with a sixth unit. 

Cheniere Energy is investing $3 billion to expand its liquefied natural gas terminal with a sixth unit at Sabine Pass in Cameron Parish through its Cheniere Energy Partners subsidiary.

The Houston-based producer and exporter of liquefied natural gas — known as LNG — made a final decision to move forward on its planned sixth unit inside the Sabine Pass facility, which sits near the Texas-Louisiana border along the Gulf of Mexico. Cheniere told contractor Bechtel Oil, Gas and Chemicals to move forward on the project, according to a news release. 

Cheniere already has five units inside its Sabine Pass terminal and planned for six in total as part of an $18 billion project.

There are more than 470 employees working at the Sabine Pass site. An additional 68 jobs are expected to be created by 2023 when the project is completed.

The $1.5 billion investment on the sixth unit is being financed over a 5-year period across 29 different financial institutions, which includes a $750 million revolving credit line and another $750 million loan. The remaining $1.5 billion is equity put up by the company. 

Cheniere sees the investment as one way to stop bottlenecks in its export business, according to the news release.

Cheniere has "acquired additional land for potential future expansions" near the Louisiana site, according to the company. 

It also operates an LNG export terminal in Corpus Christi, Texas, which it is also investing in to expand. 

This story has been updated to accurately reflect how much the new LNG terminal expansion costs.

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