Post Tagged with: "Cheniere Energy"

Source: Houston Chronicle

Judge dismisses Cheniere lawsuit against former CEO Charif Souki and Tellurian

Houston Chronicle A lawsuit between rival liquefied natural gas companies Cheniere Energy and Tellurian has been dismissed just days before jury selection was set to begin. State district court Judge Fredericka Phillips in Houston signed an order Thursday dismissing Cheniere’s claims against its former CEO Charif Souki and Souki’s new company Tellurian. The suit and a related $400 million claim were dismissed based on an “agreement of parties,” according to court records. “Although this frivolous lawsuit was clearly an attempt to disrupt the hard work and success we are having at Tellurian, it never distracted us from our focus on building Tellurian’s global natural gas business, beginning with Driftwood LNG,” Souki said in a statement. The lawsuit centered around $46 million in loans Souki made in 2015 while CEO of Cheniere to Parallax Enterprises of Houston. Cheniere and Parallax were seeking to form a joint venture to develop a pair of[Read More…]

January 31, 2020 - 2:30 pm Closing Bell Story, Energy News, LNG, Natural Gas News, People
Source: Houston Chronicle

Cheniere Energy’s 1,000th LNG cargo headed to France

Houston Chronicle Houston liquefied natural gas company Cheniere Energy hit a milestone 1,000th export shipment of LNG — and the cargo is headed to France. The Norwegian-flagged LNG tanker Hoegh Galleon left the company’s Corpus Christi LNG export terminal with the company’s 1,00th cargo on Monday morning. Cheniere Energy CEO Jack Fusco told the Houston Chronicle that the tanker is headed to France and that the milestone shipment comes less than four years after the company’s first cargo was sent out from Sabine Pass LNG in Louisiana in February 2016. The 1,000 cargoes, he said, carried enough natural gas to power all 7.4 million home in Texas for nearly five years. “In the LNG production industry, getting to 1,000 cargoes is something special,” Fusco said. “We’re the first LNG company in the world to hit that milestone in less than four years.” Cheniere plans to host celebratory events on Tuesday[Read More…]

Source: Reuters

Exclusive: Sinopec to review potential $16 billion U.S. gas deal with Cheniere – sources

Reuters SINGAPORE – China’s Sinopec, expected to be the next major Chinese buyer of U.S. liquefied natural gas (LNG), is planning to review terms of a potential $16 billion supply deal with Cheniere Energy after a sharp drop in LNG prices, industry officials said. That could delay sign-off on a deal that would help Beijing meet ambitious targets it set for U.S. energy purchases in a Phase 1 trade agreement it signed with the United States on Wednesday. Sinopec and Texas-headquartered Cheniere had been expected to sign the 20-year deal once a trade truce was reached between Beijing and Washington. Sinopec declined to comment, while Cheniere did not respond to a request for comment. “(The deal) will be renegotiated… over delivery terms and price,” said an industry executive with knowledge of the matter, who declined to be named as the matter is not public. “It may not be tough, but[Read More…]

January 17, 2020 - 11:00 am Closing Bell Story, Energy News, Finance, LNG, Natural Gas News
Source: Houston Chronicle

Gas ‘witch’s brew’ has U.S. exporters facing worst scenario

Houston Chronicle A global glut of natural gas has gotten so massive that U.S. exporters could soon face their worst-case scenario: Halting shipments to get supply and demand back in balance. Prices for the heating and power-plant fuel may collapse in Europe and Asia next year to levels that would force U.S. liquefied natural gas suppliers to curb output, Citigroup Inc. said in a note to clients last week. Morgan Stanley sees as much as 2.7 billion cubic feet a day of American exports curtailed around the second or third quarter, assuming normal weather. That’s about half the volume now being sent abroad. China’s demand for U.S. LNG has plunged amid the trade war, while Europe’s gas storage is almost full and tankers carrying the fuel are taking unusually long journeys in search of better prices. That’s created a “toxic witch’s brew” that’s making it harder to find a home[Read More…]

Source: Houston Chronicle

Cheniere executive put on ‘garden leave’ ahead of exiting company

Source: Houston Chronicle One of the top executives for Houston liquefied natural gas company Cheniere Energy is being placed on “garden leave” some three months before he leaves the company. In a Friday afternoon filing with the U.S. Securities and Exchange Commission, Cheniere reported the company’s senior vice president of operations Doug Shanda will be leaving the company on Jan. 30. A reason for Shanda leaving the company was not given but there was a twist. Cheniere placed Shanda on “garden leave” until Jan. 30, meaning that he will not work over the next three months but remain on the payroll as if he was still there. Under a separation agreement signed between Shanda and the company, he will still be entitled to receive 2019 performance bonuses and stock awards in addition to a receiving a $1.25 million payment in February. As part of the deal, Shanda signed a non-compete[Read More…]

Source: Bloomberg

Tropical Storm Barry Puts 70% of Newly Minted U.S. LNG Capacity at Risk

From Bloomberg Sabine Pass, Cameron terminals may be in Barry’s path, U.S. natural gas exports have soared amid shale boom Tropical Storm Barry is highlighting the risks that Gulf of Mexico storms pose to America’s newly expanded liquefied natural gas export capacity. Cheniere Energy Inc.’s Sabine Pass export terminal and Sempra Energy’s just-built Cameron facility are potentially in the path of the storm as it churns toward Louisiana. Together, the terminals account for about 70% of America’s capacity to ship LNG overseas. Two gas tankers are waiting to approach Sabine Pass, while a third recently departed, according to ship tracking data compiled by Bloomberg. Another terminal, Venture Global LNG Inc.’s Calcasieu Pass in Cameron Parish, is under construction. Sabine Pass continues to operate and Cheniere doesn’t expect major impacts to operations from Barry, the company said Thursday. Gas flows to the facility via pipeline have dropped about 20% since July[Read More…]

Source: Bechtel

First Cargo Delivered from Corpus Christi LNG Facility

By Tyler Losier, Energy Reporter, Oil & Gas 360 Bechtel and Cheniere deliver seventh LNG train since 2015 Cheniere Energy’s Corpus Christi Liquefication export terminal, built by construction and project management company Bechtel, has delivered its first commissioning cargo from Train 2 of the facility, located on the La Quinta Channel on the northeast side of Corpus Christi Bay in San Patricio county, Texas. This milestone marks the seventh LNG train on the U.S. Gulf Coast delivered by the partnership since 2015. Together, the companies plan to continue to work towards the completion of Train 2 in the latter half of 2019, in addition to a third train, expected to be completed in 2021. Source: Cheniere Energy The Corpu… Login or click here to subscribe Username or E-mail Password Remember Me     Forgot Password

Cheniere Appoints New Board Member

Cheniere Appoints New Board Member

Michele A. Evans joins the company as an independent director Michele A. Evans has been elected to serve on the Cheniere Energy, Inc. (stock ticker: LNG) board of directors as an independent director. She was also appointed to the audit and governance nominating committees as well. Evans is currently serving as the EVP of Lockheed Martin Aeronautics (stock ticker: LMT), overseeing a workforce of approximately 25,000 people and revenue of over $20 billion in 2018. She has over 32 years of experience in the defense and aerospace industry, including leading a significant number of programs in support of the U.S. military, as well as commercial and international customers alike. Source: Lockheed Martin Evans is actively involved in Lo… Login or click here to subscribe

Icahn Cuts Stake in Cheniere Energy, Remains Confident in Management

Icahn Cuts Stake in Cheniere Energy, Remains Confident in Management

From Reuters Activist investor Carl Icahn said on Thursday he had reduced his stake in liquefied natural gas exporter Cheniere Energy Inc (LNG.A) to 9.5 percent, but added that he was confident in the company’s management and Chief Executive Officer Jack Fusco. Icahn, still the biggest shareholder of the company, had disclosed a stake of 13.8 percent in Cheniere in December 2015. Under pressure from the investor, Cheniere appointed two of Icahn’s nominees to its board and its then chief executive officer Charif Souki stepped down here in February 2016. Last month, the Houston-based company got approval for the construction of a third liquefaction unit at its Corpus Christi export terminal in Texas, the first new liquefied natural gas project to go ahead in the United States since 2015. The company’s shares have risen 23 percent this year.

June 28, 2018 - 12:14 pm Closing Bell Story, Energy News, Finance
Cheniere Energy to Acquire Cheniere Partners; Charters an LNG Carrier

Cheniere Energy to Acquire Cheniere Partners; Charters an LNG Carrier

Cheniere Energy, Inc. (NYSE American: LNG) announced today that it has reached a definitive agreement to acquire all of the publicly-held shares of Cheniere Partners Holdings (NYSE American: CQH). Cheniere Partners Holdings shareholders will receive a fixed ratio of 0.475 Cheniere Energy shares for each outstanding publicly-held share. The transaction is currently valued at $30.93 per common share of Cheniere Partners Holdings and it is expected to qualify as tax-free reorganization for Cheniere Partners Holdings shareholders. The deal is expected to close by the end of the third quarter this year. Cheniere also entered into a new multi-year charter with GasLog Partners LP (NYSE: GLOP), for the GasLog Sydney. The deal is scheduled to commence in 2018 and includes options to extend the charter for up to two consecutive periods with escalating rates. The GasLog Sydney is a 155,000 cbm tri-fuel diesel electric LNG carrier, which was built in 2013.[Read More…]

Source: Gazprom Sakhalin II LNG

Cheniere Energy Grows with Help from Baker Hughes

Cheniere Energy Inc. (NYSE: LNG) announced today that it has reached a positive FID and plans to continue the construction of its third liquefaction train for its LNG facility in Corpus Christi, Texas. Baker Hughes, a GE company (NYSE: BHGE), will be supplying the turbomachinery equipment for this expansion. This FID represents the first for new LNG capacity in the U.S. since 2015. Upon completion of the third train, the facilities production capacity will raise to approximately 13.5 Mtpa of LNG. BHGE is supplying six PGT25+G4 DLE gas turbines that will be used to drive various compressors at the plant. BHGE has fulfilled similar orders for two previous trains at this facility and for five trains at Cheniere’s Sabine Pass plant. Corpus Christi LNG The Corpus Christi Liquefaction project is located on the La Quita Channel on the northeast side of Corpus Christi Bay in San Patricio County, Texas, approximately[Read More…]

Cheniere's Corpus Christie Plant

More U.S. Gas Earmarked for China: Cheniere, CNPC Go Long-Term

Cheniere Energy, Inc. (ticker: LNG) has entered into two LNG sale and purchase agreements (SPA) with China National Petroleum Corporation (CNPC). Under the SPAs with Cheniere’s subsidiaries, Corpus Christi Liquefaction, LLC and Cheniere Marketing International LLP, CNPC subsidiary PetroChina International Company Limited will purchase approximately 1.2 million tons per annum of LNG, with a portion of the supply beginning in 2018 and the balance beginning in 2023. The term of each SPA continues through 2043 and the purchase price for LNG will be indexed to the Henry Hub price, plus a fixed component. “We are pleased to announce these LNG contracts with China National Petroleum Corporation, an important global energy player in one of the largest and fastest growing LNG markets worldwide,” said Jack Fusco, Cheniere’s president and CEO. “These long-term SPAs build upon the Memorandum of Understanding we signed in November, and we look forward to a successful long-term[Read More…]

February 9, 2018 - 2:51 pm China, Closing Bell Story, LNG, Oil and Gas 360 Articles
Cheniere Signs Another 15-Year LNG Contract

Cheniere Signs Another 15-Year LNG Contract

Cheniere Energy, Inc. (ticker: LNG) and its subsidiary Cheniere Marketing, LLC have entered into a LNG sale and purchase agreement (SPA) with Trafigura Pte Ltd., a Geneva-based independent trader of oil and petroleum products. Trafigura’s LNG team is based in Houston, Geneva and Singapore. Trafigura has agreed to purchase approximately 1 million tons per annum of LNG from Cheniere Marketing on a free on-board basis for a term of 15 years beginning in 2019. The purchase price for LNG is indexed to the monthly Henry Hub price, plus a fee. “We are pleased to announce this long-term SPA with Trafigura, an important player in the global LNG market. We expect this SPA to help support Cheniere’s expansion plans, and we look forward to a successful long-term relationship with Trafigura as a customer,” said Cheniere President and CEO Jack Fusco. “We are pleased to have signed a long-term SPA with Cheniere[Read More…]

January 16, 2018 - 2:21 pm Closing Bell Story, LNG, Oil and Gas 360 Articles
Tellurian is sharply cutting the equity buy-in for potential partners in a bid to make its business model to finance construction of its proposed Driftwood LNG export terminal more attractive.

Tellurian Receives $25 Million Equity Infusion from GE Oil & Gas

Tellurian and its Driftwood LNG export project move forward Tellurian Investments Inc. announced that GE Oil & Gas has made a $25 million preferred equity investment in Tellurian Investments with an implied Tellurian common stock value of $5.94 per share. Tellurian is in the engineering design and pre-filing stage for a proposed 26 million tonnes per annum Driftwood LNG export facility to be located in Calcasieu Parish, Louisiana, on the U.S. Gulf coast. Tellurian was co-founded by two well known LNG veterans, Charif Souki and Martin Houston. The Federal Energy Regulatory Commission (FERC) approved Driftwood LNG’s pre-filing request on June 6, 2016. Tellurian expects construction to begin in 2018 and targets the project to become operational in 2022. GE made big news in the U.S. energy space last month when it announced that its GE Oil & Gas was combining with Baker Hughes Inc., resulting in a $32 billion oil[Read More…]

November 28, 2016 - 1:58 pm Closing Bell Story, LNG, Oil and Gas 360 Articles, People
U.S. LNG Arrives in China from Sabine Pass

U.S. LNG Arrives in China from Sabine Pass

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 as part of a long term contract, and was delivered to the Yantian Port near Hong Kong last week.   The Maran Gas Apollonia was the 19th cargo of LNG to load from the Sabine Pass export facility in the U.S. Gulf of Mexico, but the first to reach northeast Asia since the first loading in February this year. The cargo traversed the newly improved Panama Canal to reach China, and was the first LNG tanker to transit the newly expanded canal. Improvements to the Panama Canal have allowed larger[Read More…]

Cheniere Reports Sabine Pass LNG Project at Substantial Completion for Train 1, Sees First Cargo for Train 2 in Mid-August

Cheniere Reports Sabine Pass LNG Project at Substantial Completion for Train 1, Sees First Cargo for Train 2 in Mid-August

Cheniere targets Trains 3, 4 for 2017 completions In a letter to FERC dated May 24, representing the Monthly Construction Progress Report to the agency, Cheniere Energy (ticker: LNG) reported its progress through April 2016 on Trains 1,2,3 and 4 at its Sabine Pass LNG project as follows: “Actual project progress supports the achievement of substantial completion for Trains 1 and 2 by late May 2016 and September 2016, respectively. “Trains 3 and 4 targeted substantial completion dates are April 2017 and August 2017, respectively, with schedule recovery expected in the summer of 2016 as labor resource is transitioned from Stage 1 onto Stage 2.” The letter also reported that “Train 1 successfully completed the performance test in early April. The remaining work in Train 1 is primarily punch list work off; substantial completion is projected to be achieved in May. “Train 2 continued with pipe pressure testing, air blows, and restoration. Mechanical runs[Read More…]

May 25, 2016 - 6:18 pm Closing Bell Story, LNG, Oil and Gas 360 Articles
Cheniere Hires Power Generation CEO Jack Fusco

Cheniere Hires Power Generation CEO Jack Fusco

The Cheniere Energy (ticker: LNG) board of directors has appointed Jack Fusco as the company’s new CEO. Fusco came to Cheniere from Houston-based Calpine Corporation (ticker: CPN), whose website describes it as America’s largest generator of electricity from natural gas and geothermal resources–84 power plants in operation or under construction (only 3 aren’t natgas), 27,000 megawatts of generation capacity, customers in 21 states and Canada, 2,300 employees. Fusco was CEO and board member at Calpine from August 2008 to May 2014 and served as Calpine’s Executive Chairman from May 2014 through May 11, 2016. In its press release, Cheniere said Fusco was recruited by Calpine’s key shareholders in 2008, “just as that company was emerging from bankruptcy.” The release said Fusco managed commodity trading and balance sheet risks associated with being a merchant power producer. Fusco will continue as a director on the board of Calpine. Fusco’s 30-year career includes 13 years at Pacific Gas & Electric, as a commodity trader and[Read More…]

LNG Update: U.S. Export Terminals and Infrastructure in the Works

LNG Update: U.S. Export Terminals and Infrastructure in the Works

The lifting of the ban on the export of liquefied natural gas (LNG) in the United States has led to a flurry of activity in the Gulf Coast region, and several other coastal areas, as companies plan export terminals for the growth of LNG shipments abroad. The first U.S. export set sail from Sabine Pass on February 24, 2016, and marks a transition of influence on the global trade balance. It also places the U.S. front and center as a premier natural gas producer and coming global supplier. The exporting of natural gas requires not only liquefaction, but a new set of infrastructure capable of handling the load.  The largest region of natural gas production in the U.S. is the Marcellus shale in the Northeast. The primary region of exportation has become the Gulf Coast. Export Terminals Cheniere’s Sabine Pass terminal began operation in February 2016 with different liquefaction units,[Read More…]

Sabine Pass LNG

Cheniere Plans to Pay Off $2.8 Billion in Debt

Cheniere aims at credit due before 2020 Cheniere Energy (ticker: LNG, announced that it has engaged 13 financial institutions in order to structure and arrange senior secured credit facilities in an aggregate principal amount of up to approximately $2.8 billion, according to a company press release. Cheniere hopes to use the proceeds from the new credit facility to redeem or repay approximately $1.7 billion in senior secured notes due 2016, prepay $400 million on a senior secured term loan due 2017 by Cheniere Creole Trail Pipeline and redeem or repay the $420 million in senior secured notes due 2020 issued by Sabine Pass LNG. The company’s total debt stands at $24.16 billion, but the new plan with the financial institutions would pay off everything Cheniere owes prior to $3.1 billion of debt due in 2021. The sizable portion of the company’s total debt will come due in 2022, when[Read More…]

January 25, 2016 - 6:16 pm Closing Bell Story, LNG, Oil and Gas 360 Articles
Charif Souki Out as CEO of Cheniere Energy

Charif Souki Out as CEO of Cheniere Energy

Cheniere Board of Directors Appoints Board Members to Run the Company Until New CEO Found Cheniere Energy’s (ticker: LNG) first LNG shipment is just weeks away, and the man who co-founded the colossal operation will not be present to witness his company’s achievement. Charif Souki, the former Chairman, President and Chief Executive Officer of Cheniere Energy, has been removed from his position effective immediately, the company said in a news release on Sunday, December 13, 2015. Souki co-founded Cheniere Energy in 1996 and guided the company from an unknown to one that revolutionized the highly publicized (and highly capital intensive) LNG market. The undertaking was massive – costs neared $20 billion and involved more than a decade of development and construction, but the first LNG export terminal in the United States is rapidly approaching the finish line. In the meantime, Cheniere will be searching for a new CEO after the[Read More…]

December 14, 2015 - 5:08 pm Closing Bell Story, LNG, Oil and Gas 360 Articles, People
Source: Gazprom. LNG Tanker

Cheniere to Provide 12 Cargoes per Annum to France in 2018

Cheniere signs five-year contract with France’s Engie Cheniere Energy (ticker: LNG) made an agreement this week to provide up to 12 cargoes of liquefied natural gas (LNG) to France’s Engie (ticker: ENGI) as part of a five-year contract starting in 2018. The cargoes will be delivered by ship at the Montoir-de-Bretagne regasification terminal in France from Cheniere’s Sabine Pas and Corpus Christi LNG terminals, according to a press release. According to Cheniere, the 12 cargoes will equate to approximately 222 million MMBtus in total. The price of the contract will be linked to Northern European indices, according to the company. “This [sales and purchase agreement] with ENGIE furthers our strategy of supplying LNG to European markets and diversifies our marketing portfolio with sales tied to Northern European price indices. Deliveries are expected to be made to the Montoir de Bretagne LNG terminal or to alternative delivery points as determined by our customer,”[Read More…]

October 30, 2015 - 5:50 pm International, LNG, Oil and Gas 360 Articles
Can Cheniere Energy Fend off LNG Headwinds? Carl Icahn Thinks So

Can Cheniere Energy Fend off LNG Headwinds? Carl Icahn Thinks So

Did Cheniere Squeeze through a Closing Door? Carl Icahn has followed up his August purchase of 19.4 million Cheniere Energy (ticker: LNG) shares by purchasing another 3.3 million shares, increasing his stake in the company to about 9.59%. Icahn’s group was awarded two seats on the board upon its purchase last month and has now invested approximately $1.2 billion in the company who is pioneering the liquefied natural gas (LNG) market. In the filing confirming the first purchase, Icahn’s firm reasoned that Cheniere’s stock is undervalued and critics believe his influence could more closely align Cheniere’s management with its shareholders. Public chatter about Cheniere has escalated in recent months as the company nears the milestone of generating its initial production of LNG from Sabine Pass, which is still on track to commence late this year. Can Profitable LNG Actually Work? The patience, staggering investments and long-term uncertainty of LNG projects[Read More…]

September 15, 2015 - 5:44 pm Downstream, LNG, Midstream, Oil and Gas 360 Articles, Regulatory
Opening Up the Global Energy Markets: U.S. LNG Exports are Only Months Away

Opening Up the Global Energy Markets: U.S. LNG Exports are Only Months Away

LNG: Energy CEOs talk about exporting U.S. shale gas to Europe, Asia “We are changing the way the global natural gas markets are going to function”—Charif Souki, Cheniere Energy CEO The exportation of liquefied natural gas (LNG) and crude oil from the U.S. were hot topics at EnerCom’s The Oil & Gas Conference® 20. Marcellus producer Range Resources is well positioned to sell its gas abroad Oil & Gas 360® talked to energy executives about the scale of the shale gas export market. From a producer’s standpoint working in the country’s largest gas play–the Marcellus natural gas resource in the Appalachian basin–Jeff Ventura told Oil & Gas 360® that in a commodity business there are three things you want: size, scale and quality. Range Resources’ (ticker: RRC) chairman, president and CEO told Oil & Gas 360®, “We’re in the highest quality gas play, in the Marcellus, and according to a[Read More…]

August 24, 2015 - 5:20 pm LNG, Midstream, Oil and Gas 360 Articles, Regulatory
Charif Souki of Cheniere Offers Insight at The Oil & Gas Conference® 20

Charif Souki of Cheniere Offers Insight at The Oil & Gas Conference® 20

Cheniere’s head gives his unique perspective Charif Souki, CEO of Cheniere Energy (ticker: LNG), presented at lunch during EnerCom’s The Oil & Gas Conference® 20 in Denver, Colorado, today. After his speech, conference attendees asked for Souki’s unique insight into global LNG markets. Questions ranged from progress on the construction of the company’s liquefied natural gas (LNG) project at Corpus Christi, Texas, to what other LNG projects might make it to completion. Throughout the Q&A, Souki remained focused on what was immediately ahead for Cheniere. When asked what the company might do once it has free cash flow, Souki said, “I have my hands full with our current projects, I’ll worry about that when we get there.” “With our 31 million ton per annum platform, we have secured our cash flow come hell or high water. Now that we have that platform, we can start to diversify.” Souki discussed the[Read More…]

August 19, 2015 - 6:54 pm LNG, Oil and Gas 360 Articles
Source: Cheniere Energy Corpus Christi LNG Rendering

Cheniere Energy – Day Three Breakout Notes

Charif Souki, Chief Executive Officer of Cheniere Energy, Inc. (NYSE MKT: LNG), presented today at EnerCom’s The Oil & Gas Conference® 20. Cheniere Energy is developing natural gas liquefaction facilities at the Sabine Pass LNG terminal adjacent to the existing regasification facilities. Cheniere Partners plans to construct over time up to six liquefaction trains, which are in various stages of development. In the second quarter of 2015, Cheniere made a positive final investment decision and issued a notice to proceed with construction to Bechtel Oil, Gas and Chemicals, Inc. for the first two natural gas liquefaction trains and related facilities on the Corpus Christi LNG project. In June, the company announced the development of an additional two trains at the Corpus Christi project, bringing the total number of trains under development up to five. During the company’s breakout session, management was asked the following questions: Have you ever had any reaction from,[Read More…]

August 19, 2015 - 4:26 pm LNG, Oil and Gas 360 Articles
Cheniere Energy Increases Scope:  Will Export Crude Oil Condensate as well as LNG

Cheniere Energy Increases Scope: Will Export Crude Oil Condensate as well as LNG

– Building $550 Million Condensate Storage and Marine Terminal – Cheniere Partners Taking on $5.8 Billion Debt to Build Train 5 at Sabine Pass LNG Export Facility Cheniere Energy (ticker: LNG) is moving forward now on several energy export fronts. Word came out this week that the company’s plans are moving forward to construct a $550 million export terminal in Texas that would allow it to ship processed condensate and eventually crude oil abroad—in addition to enjoying first mover status with respect to LNG exports from the U.S., something the company has said it is targeting to begin initial shipments in late 2015. Last fall Cheniere said it was looking at a 550 acre industrial property for a marine and storage terminal in Ingleside along the La Quinta Ship Channel. Nelson Lee, Cheniere Energy’s (ticker: LNG) director of crude trading and origination, spoke about the plan for exporting crude oil condensate at[Read More…]

June 30, 2015 - 7:00 pm LNG, Oil and Gas 360 Articles