The Chandra X-ray Observatory (formerly known as the Advanced X-ray Astrophysics Facility - AXAF) is the NASA follow-up mission to the Einstein Observatory. The Chandra instrumentation consists of a high resolution mirror, two imaging detectors, and two sets of transmission gratings with following important features: an order of magnitude improvement in spatial resolution, good sensitivity from 0.1 to 10 keV, and the capability for high spectral resolution observations over most of this range. The Max-Planck-Institut für extraterrestrische Physik in Garching contributed the Low Energy Transmission Grating (LETG) in collaboration with the Space Research Organisation Netherlands (SRON) in Utrecht. Launched into a highly elliptical orbit in July 1999 Chandra should enjoy a 5-10 year lifetime.