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A JV between ExxonMobil (XOM) and Qatar Petroleum is asking U.S. authorities for permission to...

  • Monday, August 20, 2012, 9:23 AM ET
    A JV between ExxonMobil (XOM) and Qatar Petroleum is asking U.S. authorities for permission to export large quantities of U.S.-made liquefied natural gas from its new terminal near the Texas-Louisiana border. If permission is granted, the partnership would spend $10B converting the facility into one capable of exporting 15.6M tons of LNG per year to compete with Cheniere Energy's facility.
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This news story has 4 comments:

  •  
    I wonder if they've made an offer to buy Cheniere. Cheniere has already made tangible progress in building its Sabine Pass gas liquefaction project infrastructure, with a target operations date in early 2015. I wonder how much faster this JV could put a liquefaction plant on line? I have an equity position in LNG.
    20 Aug 2012, 11:44 AM Reply Like
  •  
    I expect this to cause LNG and Cheniere's stock price to suffer somewhat, even though they have at least 6 long term contracts already secured. I dropped all of my LNG yesterday except for 100 shares. Made nice profits too. I expect it to dip and when it does if it is significant I will buy back in.
    20 Aug 2012, 05:14 PM Reply Like
  •  
    TDa, I have the same concern, that JV could possibly beat Cheniere Energy Partners and LNG in getting a plant operational. MUch of the material would already be available on site for the JV operation.
    20 Aug 2012, 05:14 PM Reply Like
  •  
    @ above: ...Couldn't you simply call Cheniere and ask someone directly these very questions as a potential buyer?
    22 Aug 2012, 03:24 PM Reply Like
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