Rochester,NY 7/7/2009 4:06:49 AM
After Market - LNG -US government approves Cheniere LNG export plans - Sourced WhisperFromWallStreet.com
Cheniere Energy
After Market - LNG -US government approves Cheniere LNG export plans - Sourced WhisperFromWallStreet.com
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Cheniere Energy, Inc.LNG
After Hours: 2.85 Up 0.04 (1.42%) 4:26PM ET
Cheniere Energy (LNG.A) has received U.S. government approval to re-export foreign-sourced liquefied natural gas from its Sabine Pass terminal in Louisiana.
The final approval from the Department of Energy follows approval given by the Federal Energy Regulatory Commission last week.
"We have just received DoE approval," a company spokeswoman told Reuters on Monday.
She declined to give a dateline for when modifications would take place to allow export flows of gas from the import-only terminal, but said that work is only expected to take a day or so.
Cheniere plans to take advantage of seasonal prices changes in the LNG market by importing the super-cooled gas during summer when prices are low, storing it and then re-exporting when prices are higher, most likely in winter.
About
Cheniere Energy, Inc., through its subsidiaries, engages in the development, construction, ownership, and operation of onshore liquefied natural gas (LNG) receiving terminals and natural gas pipelines along the Gulf Coast of the United States. The company develops LNG receiving terminal projects on Sabine Pass LNG in western Cameron Parish, Louisiana on the Sabine Pass Channel; Corpus Christi LNG near Corpus Christi, Texas; Creole Trail LNG at the mouth of the Calcasieu Channel in central Cameron Parish, Louisiana; and Freeport LNG on Quintana Island near Freeport, Texas. It also engages in oil and natural gas exploration and development activities in the Gulf of Mexico. The company was founded in 1983 and is based in Houston, Texas.
Last Trade: 2.81
Day's Range: 2.47 - 2.86
52wk Range: 0.95 - 5.85
Volume: 646,323
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