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
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,”
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
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
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
“My desk is at the end of the production line.” As CEOs go, there is not much about Elon Musk that is orthodox. Example: Tesla Motors’ (ticker: TSLA) Q1 conference call took place this week. Musk held the Tesla call at 5:30 p.m. Eastern time, bucking a generally adopted morning conference call tradition embraced by a majority of public companies.
Chenier ships its sixth LNG cargo – destination: Europe The sixth LNG cargo to leave from Chenier Energy’s (ticker: LNG) Sabine Pass project is set to bring U.S. liquefied natural gas to Europe for the first time. The Continent, which will be the third to import U.S. LNG, has predominantly received its natural gas from Russia and Norway in the
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
Natural gas prices are down more than 4% today at $1.67 per MMBtu, the lowest they have been since 1999. Waning demand for natural gas in Japan, warmer weather expectations in the U.S., along with an expected surge in LNG supplies has put a great deal of downward pressure on natural gas prices. Japan, the world’s largest importer of natural
Cheniere’s first LNG shipment from Sabine Pass is destined for Brazil Cheniere Energy (ticker: LNG, Cheniere.com) announced that it was loading the first shipment of LNG to export from the U.S. from Train 1 at its Sabine Pass LNG project Wednesday. A press release from the company said the cargo would “depart imminently,” following its loading on the LNG carrier
