Cheniere Energy, Inc.

Good day, everyone, and thank you for standing by. Welcome to today's Chenier Energy, Inc. Third Quarter 2020 Earnings Call and Webcast. A quick reminder that today's program is being recorded. And at this time, I'd like to turn the floor over to Randy Bhatia, Vice President of Investor Relations. Please go ahead, sir.

Thank you, operator. Good morning, everyone, and welcome to Chenier's Third Quarter 2020 Earnings Conference Call. The slide presentation and access to the webcast for today's call are available at Chenier.com. Joining me this morning are Jack Fusco, Chenier's President and CEO, Anatole Fagan, Executive Vice President and Chief Commercial Officer, and Zach Davis, Senior Vice President and CFO. Before we begin, I would like to remind all listeners that our remarks, including answers to your questions, may contain forward-looking statements, and actual results could differ materially from what is described in these statements. Slide two of our presentation contains a discussion of those forward-looking statements and associated risks. In addition, we may include references to certain non-GAAP financial measures, such as consolidated adjusted EBITDA and distributable cash flow. A reconciliation of these measures to the most comparable GAAP measure can be found in the appendix to the slide presentation. As part of our discussion of Chenier's results, today's call may also include selected financial information and results for Chenier Energy Partners LP or CQP. We do not intend to cover CQP's results separately from those of Chenier Energy Inc. The call agenda is shown on slide three. Jack will begin with operating and financial highlights. Anatole will then provide an update on the LNG market. And Zach will review our financial results and guidance. After the prepared remarks, we will open the call for Q&A. I'll now turn the call over to Jack Pusko, Chenier's president and CEO.

Thank you, Randy, and good morning, everyone, and thank you for your continued support of Chenier. We have a lot to cover this morning, and I'd like to start by thanking the Chenier professionals that make my job look so easy. As you will see from our results and guidance, it has been a challenging and rewarding quarter during an unimaginable year. This year continues to present us with surprising challenges, and we at Chenier continue to rise to those challenges, maintain our focus, and execute. I'm extremely proud of the results we're reporting today. You often hear me speak about the resiliency of our people, our assets, and our business model. That has certainly been reinforced today, as not only have we navigated the continued direct and indirect challenges of COVID-19 and a difficult global LNG market, but also the added challenges of two major hurricanes recently making landfall near Sabine Pass. While Sabine Pass suffered no significant damage from either Hurricane Laura or Hurricane Delta, many of our coworkers, friends, neighbors, and other members of the Chenier family were impacted with lost or damaged homes. We are proud to have responded to those natural disasters quickly and impactfully in support of our employees with shelter and clothing and in the communities where we live and work in Southwest Louisiana. with a $1 million donation and a supply drive with the Astros where we delivered two semi-tractor trailers full of goods. We also managed volatility in the LNG market over the quarter. When the third quarter commenced, we were in a period of relatively high cargo cancellations and low facility utilization. By the time we exited the quarter, LNG market conditions had materially strengthened, which allowed us to ramp up production and capture additional margin. Throughout this year's volatility, our visibility to achieving full year 2020 financial results within the guidance ranges remained virtually unchanged. Additionally, we've received an increasing number of questions from our shareholders regarding the global energy transition and the role of natural gas and LNG in a lower carbon future. Natural gas is an affordable, reliable, cleaner-burning global fuel source, and we are confident in natural gas playing an increasingly important role in the global energy mix for many years as countries set carbon neutrality goals for the second half of this century. Chenier delivers abundant, cleaner-burning natural gas from North America to the rest of the world so it can displace dirtier fuel sources like coal and oil, helping these countries achieve their environmental goals. We remain steadfast on allocating capital to the most attractive risk-adjusted opportunities for continued growth in our core liquefaction platform as we simultaneously seek to optimize our environmental footprint and support our customers and their downstream economies in achieving their long-term energy security and environmental goals.