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Cheniere Energy, Inc (LNG)

  • Thu, Jul. 30, 4:59 PM
    • Cheniere Energy (NYSEMKT:LNG): Q2 EPS of -$0.52 misses by $0.20.
    • Revenue of $68M (+0.6% Y/Y) misses by $1.4M.
    • Press Release
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  • Tue, Jul. 28, 11:19 AM
    • Cheniere Energy (LNG +1.2%) plans to deliver liquefied natural gas to central and southeast Europe within a few years, Reuters reports, in a move that would help loosen Russia's energy grip on the region.
    • Cheniere reportedly is looking at bringing a floating regasification terminal to Croatia, which has started the process to attract investors for a gas terminal; many believe the project is too costly and faces too many roadblocks to succeed, which would make Cheniere's plans for a floating LNG terminal a realistic way to help supply the region.
  • Wed, Jul. 22, 3:39 PM
    • Cheniere Energy (LNG -1.2%) is initiated with an Accumulate rating and $76 price target at Global Hunter, which views the company as one of the best ways to gain exposure to growth of U.S. liquefied natural gas exports, which are being driven by cheap U.S. shale gas and arbitrage with international LNG prices.
    • While this price arbitrage has come down from $12/mmBtu to $5-$6 with the slide in crude oil prices, the firm thinks LNG's first mover advantage, largely contracted capacity and ability to take advantage of international LNG-U.S. gas price arbitrage and sanction expansions at existing facilities provide significant upside potential.
    • Cheniere Energy Partners (CQP -0.9%) also is started at Accumulate, with a well-contracted portfolio of five trains currently under construction providing visibility to distribution growth over the next 4-5 years with additional upside potential with sanctioning of a sixth train if contracts can be signed and financing secured.
  • Mon, Jun. 29, 4:59 PM
    • Cheniere Energy (NYSEMKT:LNG) will move forward with a $550M export terminal in Texas that will ship processed condensate to international markets, a top executive says today at an energy conference.
    • "The reason why we're going ahead with that project is we think that we will have unfettered crude oil exports in U.S at some point, and there aren't the sort of logistics for the crude to exit the United States," says Nelson Lee, the company's director of crude trading and origination.
    • Lee says the terminal, scheduled to start up in 2017, will have 2M barrels of oil storage and dock infrastructure that can accommodate Aframax-sized tankers.
    • Cheniere also is building liquefied natural gas export terminals in Corpus Christi, Tex., and Cameron, La.
  • Mon, Jun. 29, 1:11 PM
    • Cheniere Energy (LNG -3.1%) says it will assume up to $5.8B in debt to pay for the construction of a fifth production facility at its Sabine Pass export terminal, including $4.6B of credit and a $1.2B revolving credit facility.
    • Sabine Pass is being designed for up to six liquefaction trains, each with nominal production capacity of ~4.5M metric tons/year; LNG has yet to secure contracts for the planned sixth train.
    • The move follows decisions last week by federal regulators to grant approval for LNG to build two additional trains at Sabine Pass and ship supercooled gas produced by those facilities to countries with which the U.S. does not have free trade agreements.
  • Fri, Jun. 26, 3:58 PM
    • Cheniere Energy (LNG +0.4%) receives approval from the Department of Energy for a key export authorization for its Sabine Pass expansion, paving the way for the company to move forward with the project.
    • LNG already had received approval from the DoE to ship 2.2B cf/day of natural gas for 20 years, and the latest approval clears the company to export an additional 1.38B cf/day.
    • With the major regulatory hurdles out of the way, LNG is poised to make a final investment decision on the project, which will be built on the same site where it already is building four liquefaction production facilities.
  • Tue, Jun. 23, 1:04 PM
    • Cheniere Energy (LNG +2.6%) spikes higher on news that the FERC declined a request by the Sierra Club for a rehearing related to approval of the company's expansion project at the Sabine Pass LNG terminal.
    • LNG has been prepared to start construction on the Sabine Pass expansion, but work had been held up due to challenges from environmental groups; FERC had cleared the project in April but was held up by the Sierra Club objection.
    • LNG was expected to win the case, as it saw a similar challenge to its Corpus Christi export terminal.
  • Thu, Jun. 11, 8:51 AM
    • Cheniere Energy (NYSEMKT:LNG) announces plans for additional liquefied natural gas projects, adding two additional production units in Corpus Christi and partnering with a smaller LNG company to build new projects in Louisiana.
    • LNG says it has filed paperwork seeking federal approval to build two more liquefaction trains near its proposed LNG export terminal in Corpus Christi, where construction has started on two of the five proposed trains.
    • The company also will team with Parallax Enterprises to complete two mid-scale projects already under development; the projects each have two trains with a capacity to produce 2.5M metric tons/year of LNG.
    • LNG says all the projects, if completed, would add up to 19M metric tons/year of incremental LNG production capacity and bring total LNG production capacity to 60M metric tons/year by 2025.
  • Fri, May 29, 4:59 PM
    • Cheniere Energy (NYSEMKT:LNG) was cleared by the FERC in April to begin construction on an expansion of its Sabine Pass liquefied natural gas export terminal, but it can’t start work until federal regulators dismiss the Sierra Club’s new request for a rehearing.
    • LNG is urging FERC to act soon to deny a rehearing, arguing that the environmental group is raising the same concerns it made regarding the company’s Corpus Christi export terminal, when U.S. regulators dismissed the group’s request for additional reviews.
    • LNG says it is eager to start work after locking in contracts for a fifth production unit with a French company and an English utility and nearly completing financing for the project, and is poised to give a construction company the green light to start work.
  • Thu, May 21, 9:17 AM
    • New additions to Goldman's hedge fund hotels - 50 stocks which most frequently appear among the largest ten holdings of hedge funds: AerCap (NYSE:AER), Assured Guaranty (NYSE:AGO), Baker Hughes (NYSE:BHI), Citizens Financial (NYSE:CFG), Colony Capital (NYSE:CLNY), Dresser-Rand (NYSE:DRC), Family Dollar (NYSE:FDO), Hospira (NYSE:HSP), Netflix (NASDAQ:NFLX), NXP Semi (NASDAQ:NXPI), Pharmacyclics (NASDAQ:PCYC), Visa (NYSE:V), and Walgreens (NASDAQ:WBA).
    • Since 2001, the basket has outperformed the S&P 500 in 66% of quarters by an average of 73 basis points. YTD, however, it has underperformed by nine bps. Goldman notes the current basket overweights Consumer Discretionary (22%) and underweights Consumer Staples (2%).
    • Looking at the full list, Actavis (NYSE:ACT) leads the way, with 77 funds naming the stock as a top 10 holding. Next up is Apple (NASDAQ:AAPL) with 69, then Facebook (NASDAQ:FB) at 42. For the entire list of 50, the average is 26 funds making a stock a top 10 holding.
    • The rest in order: Valeant (NYSE:VRX), Microsoft (NASDAQ:MSFT), DirecTV (NASDAQ:DTV), Citigroup (NYSE:C), Time Warner (NYSE:TWC), Delta (NYSE:DAL), Cheneire (NYSEMKT:LNG), Yahoo (NASDAQ:YHOO), Liberty Global (NASDAQ:LBTYK), AIG, SunEdison (NYSE:SUNE), Air Products (NYSE:APD), Amazon (NASDAQ:AMZN), GM, BofA (NYSE:BAC), JPMorgan (NYSE:JPM), Macquarie Infrastructure (NYSE:MIC), American Airlines (NASDAQ:AAL), Charter Communications (NASDAQ:CHTR), Google (GOOG, GOOGL), Ally Financial (NYSE:ALLY), NorthStar Realty (NYSE:NRF), Priceline (NASDAQ:PCLN), eBay (NASDAQ:EBAY), MasterCard (NYSE:MA), Alibaba (NYSE:BABA), Micron (NASDAQ:MU), Williams (NYSE:WMB), Gilead (NASDAQ:GILD), Berkshire Hathaway (BRK.A, BRK.B), Dolar General (NYSE:DG), NorthStar Asset (NYSE:NSAM), Brookdale Senior (NYSE:BKD), DISH Network (NASDAQ:DISH).
    • See also: Goldman updates list of hedge funds most-shorted stocks (May 21)
  • Tue, May 19, 9:58 AM
    • Chinese buyers are looking to secure long-term supplies of liquefied natural gas from Cheniere Energy (LNG, CQP), according to an official from the company, in what would be the first LNG deal between China and the U.S.
    • Cheniere is set to become the first U.S. LNG exporter, with shipments to start by the end of this year; no Chinese companies have signed up for any U.S. LNG cargoes so far, but that could change soon.
    • "There's a lot of interest from Chinese buyers for long-term LNG volume, especially for 2020 onwards," says Cheniere Marketing's VP for Asia, adding that some Chinese buyers already had begun moving to secure supplies, although without providing any details.
  • Wed, May 13, 4:59 PM
    • Cheniere Energy (NYSEMKT:LNG) announces a positive final investment decision to construct two natural gas liquefaction trains at its liquefaction project in Corpus Christi, Tex.
    • The project is designed for up to three trains with expected aggregate nominal production capacity of ~13.5M metric tons/year, three LNG storage tanks with capacity of 10.1B cfe, two LNG carrier docks and a 22-mile natural gas supply pipeline.
    • LNG expects the first train to start operations as early as 2018, with the second beginning operations 6-9 months later.
    • Yesterday, the Department of Energy issued the final U.S. government approval to export LNG from the plant.
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  • Tue, May 12, 6:53 PM
    • The U.S. Energy Department gives final approval for Cheniere Energy (NYSEMKT:LNG) to export liquefied natural gas from its plant in Corpus Christi, Tex.
    • The approval allows the plant to export 2.1B cfe/day of natural gas for 20 years to countries with which the U.S. does not have a free trade agreement.
    • LNG hopes to begin exporting from Corpus Christi starting in 2018.
  • Thu, Apr. 30, 5:03 PM
    • Cheniere Energy (NYSEMKT:LNG): Q1 EPS of -$1.18 misses by $0.87.
    • Revenue of $68.4M (+1.3% Y/Y) beats by $0.7M.
    • Press Release
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  • Tue, Apr. 14, 8:57 AM
    • Cheniere Energy (NYSEMKT:LNG) says it expects to make a final investment decision on its planned Corpus Christi, Tex., liquefied natural gas export project within the next 30 days, which would make it the biggest LNG producer in the Atlantic, with ~40M metric tons of annual production.
    • LNG already has agreed to financing for Corpus Christi, sealed a $9.5B engineering, procurement and construction contract with engineering firm Bechtel, and says it expects to sell another 2M metric tons of gas supply from the project by year's end.
    • LNG already is building the first U.S. LNG export plant at Sabine Pass, La., which is due to come on stream towards the end of the year, and a final decision on an additional two production trains at Sabine Pass LNG export project is expected this year.
  • Wed, Apr. 8, 2:58 PM
    • Cheniere Energy (LNG +0.2%) wins approval from the FERC to build the fifth and sixth trains of the Sabine Pass liquefaction and export facility in Louisiana.
    • The addition of the two trains would increase terminal export capacity from to ~29M metric tons/year from ~20M, or the equivalent of ~4.14B cf/day.
    • Sabine told the FERC it has made agreements with Total and Centrica to deliver 101B cf and 88.3B cf of liquefied natural gas, respectively, representing most of the capacity of Train 5; it said it is in talks for the sale of LNG from Train 6.
    • The first phase of the terminal is nearing completion, pushing the company closer to becoming the first large-scale plant in decades to ship LNG from the continental U.S.
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Company Description
Cheniere Energy Inc is engaged in LNG-related businesses. It owns and operates the Sabine Pass LNG terminal in Louisiana through its ownership interest in and management agreements with Cheniere Energy Partners, L.P.