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Bloomberg: Chile OKs proposed floating import terminal, boosting Cheniere

Jul. 01, 2016 5:21 PM ETCheniere Energy, Inc. (LNG) StockLNGBy: Carl Surran, SA News Editor1 Comment
  • Chile's government may have provided Cheniere Energy (NYSEMKT:LNG) reason to build another plant to export U.S. natural gas by clearing the final environmental hurdle for the Penco Lirquen LNG floating import terminal, Bloomberg reports.
  • The executive director of Biobiogenera, the developer behind the project, also says the 1,200 MW Central El Campesino power plant, which will be supplied by the gas import vessel, should be approved in July or August.
  • Cheniere has a 20-year agreement to supply gas to the power plant and is a co-owner of the import project with Biobiogenera.
  • Analysts say success in Chile may help Cheniere find other new buyers needed to sign long-term contracts before it makes a decision on an additional liquefaction plant at its Corpus Christi facility in Texas.

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