From Fuel Fix/Bloomberg Cheniere Energy Inc., which shipped its first cargo of liquefied natural gas in February, has been cleared to double exports from its landmark terminal in Louisiana. Cheniere’s second liquefaction plant at Sabine Pass was approved by the Federal Energy Regulatory Commission in a notice on Wednesday. Each plant has the capacity to produce the equivalent of about 650
Tellurian+Magellan merger is expected to close Q4 On October 11, Magellan Petroleum (ticker: MPET) filed an S-3 Registration Statement with the SEC paving the way to sell up to $500 million in common stock, warrants and units, the proceeds to be used for general corporate purposes for the company which is moving toward LNG development. Magellan’s previously announced reverse merger
From Bloomberg An LNG tanker has created a guessing game for energy traders by taking a meandering course after loading up on U.S. shale gas a month ago at Cheniere’s Sabine Pass export terminal. A liquefied natural gas tanker plying the waters of the Mediterranean has created a guessing game for energy traders. The Maran Gas Delphi has taken a
The market for natural gas continues to grow as the U.S. currently produces and consumes more gas than ever before, according to EIA’s 2015 Natural Gas Annual. Prices for consumers continue to decline, although residential pricing for heating remains highest in the Eastern United States. Net imports also continue to decline as the country starts to export more natural gas
Paying a contingent resource payment of $7.07 per IOC share for each Tcfe of resource in Elk-Antelope field above 6.2 Tcfe InterOil Corporation (ticker: IOC) announced today that more than 80% of its shareholders approved of the ExxonMobil Corporation (ticker: XOM) acquisition of the company. Exxon will acquire InterOil in an all-stock deal valued at $2.5 billion, with a contingent
HOUSTON, Sept. 16, 2016 /PRNewswire/ — Cheniere Energy Partners, L.P. (“Cheniere Partners”) (NYSE MKT: CQP) today announced that Substantial Completion of Train 2 of the Sabine Pass liquefaction project in Cameron Parish, Louisiana (the “SPL Project”) was achieved on September 15, 2016. Commissioning has been completed and Cheniere Partners’ EPC partner Bechtel Oil, Gas and Chemicals, Inc. (“Bechtel”) is turning over care, custody, and control of Train 2 to Cheniere Partners. This turnover will be done
From Bloomberg CEO strategy is far cry from expansion plans of founder Souki Jack Fusco joined as Cheniere CEO after Souki was ousted Jack Fusco, the chief executive officer of Cheniere Energy Inc., has a new priority for the company now that it’s regularly sending tankers full of U.S. shale gas abroad: streamlining. The liquefied natural gas exporter is due
Meg Gentle will Drive Tellurian’s Driftwood Gulf Coast LNG Project Development Former Cheniere exec Meg Gentle will lead Tellurian Investments as the company’s president, CEO and a member of the board. Gentle has also made a $10 million private investment in Tellurian. At Cheniere, Gentle served as EVP of marketing, based in London, England. “Meg is an exceptionally talented executive,”
In exchange for $425 million in cash, Royal Dutch Shell (ticker: RDS) has sold off the company’s stake in assets held in the Gulf of Mexico, the transaction is expected to close in October. The sale agreement bodes well for its disposal talks in the North Sea, Gabon and New Zealand, according to sources, signaling buyers will meet its expectations
The fist LNG shipment to China from the lower 48 states arrived last week, marking the official entry of the U.S. into the Asian LNG market. The shipment was chartered by Royal Dutch Shell (ticker: RDS) and originated form Cheniere Energy’s (ticker: LNG) Sabine Pass LNG facility in Gulf of Mexico. The cargo was purchased by China National Offshore Corp
From the Wall Street Journal New CEO says he is focused on long-term contracts instead of chasing short-term deals Natural-gas exporter Cheniere Energy Inc. reported a second-quarter loss Tuesday as its ramp-up in production of liquefied natural gas faces a world-wide glut that is depressing prices. Surging natural-gas supplies in North America and slowing demand from traditional buyers in Asia have pushed down LNG spot prices and made
From Epoch Times China Petroleum & Chemical Corp. announced plans to sell half of its stake in a major trans-China natural-gas pipeline, in a bid to raise capital and fund exploration as part of China’s ambitious goal to wean itself off of coal. Sinopec, as the company is commonly called, is looking to divest 50 percent of its cross-country pipeline
