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LNG vs. ETF Alternatives
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.
Friday, Apr 1111:25 AM
Friday, Apr 1111:25 AM| 7 Comments
- The U.S. could give Europe and Ukraine relief from energy dependence on Russia within months if it overturned the 40-year ban on most U.S. crude oil exports, Hess (HES) CEO John Hess believes.
- The CEO plays down the notion that reversing the ban could raise gasoline prices, saying prices are set on global futures markets and that the U.S. already exports millions of barrels per day of oil products.
- Cheniere Energy (LNG) CEO Charif Souki disagrees, downplaying claims U.S. energy can save Europe from its dependence on Russian gas.
Thursday, Apr 106:52 PM
Thursday, Apr 106:52 PM| 6 Comments
- Cheniere Energy (LNG) CEO Charif Souki says the ability of U.S. energy to save Europe from its dependence on Russian gas has been overstated, partly because he believes only six to eight out of 24 proposed U.S. export projects ever have a chance to be completed.
- LNG's own terminal, Sabine Pass in Louisiana - the only project approved for export so far by U.S. regulators - is due to export its first liquefied natural gas towards the end of 2015; at full capacity, it will send out 2.2B cf/day of gas, but Europe’s daily consumption is 40B-50B cf/day, Souki says.
- Cheniere has signed contracts to sell gas to various European companies, but Souki says he has no control over where those customers would sell that gas; "I'm sure they will be opportunistic," he says.
Tuesday, Apr 811:11 AM
Tuesday, Apr 811:11 AM| 3 Comments
- Cheniere Energy (LNG +0.4%) moves modestly higher after Morgan Stanley reiterates a positive stance on the shares following LNG's analyst day, feeling more constructive on the company's ability to deliver on nine liquefaction trains.
- The firm sees unappreciated upside in LNG's gas marketing with the news of an additional sale agreement for the planned Corpus Christi export facility; the first train is fully contracted and LNG expects the second train to complete contracting over the next few months.
- Stanley lifts its price target to $78 from $60; largely unnoticed last Friday, BTIG raised its target to a new Street-high $80.
Monday, Apr 75:36 PM
Monday, Apr 710:25 AM
Monday, Apr 710:25 AM| 1 Comment
- Cheniere Energy (LNG +0.4%) and Endesa (ELEZF) sign another 20-year sale and purchase agreement for liquefied natural gas from LNG's planned export facility being developed near Corpus Christi, Tex.
- Endesa will purchase ~750M metric tons/year of gas in addition to last week's announcement that the Spanish utility would purchase 1.5M metric tons/year, to bring the total quantity sold to Endesa to ~2.25M.
- The Corpus Christi Liquefaction Project is being designed and permitted for up to three trains, with aggregate design production capacity of 13.5M metric tons/year of LNG.
Thursday, Apr 312:37 PM
Thursday, Apr 312:37 PM| 2 Comments
- Cheniere Energy (LNG -1.7%) reportedly is close to securing its second large supply deal this week, as it nears a 20-year deal with Italian utility Enel (ENLAY) for 1B cubic meters/year of gas.
- Earlier this week, LNG signed a 20-year supply deal with Spanish utility Endesa for gas from its proposed Corpus Christi plant in Texas.
- LNG already has secured several sales deals from its Sabine Pass export plant in Louisiana and is now focusing on locking in customers for the Texas plant, even though U.S. regulators have not yet approved that site for exports.
- Shares may be lower today because of a Credit Suisse downgrade to Neutral from Outperform, as LNG has climbed ~35% in two months and many of the company's near-term positives have been priced in.
Wednesday, Apr 28:20 AM
Wednesday, Apr 28:20 AM| 2 Comments
- Cheniere Energy (LNG) +1.7% premarket on news that Spanish energy company Endesa (ELEZF) agrees to purchase ~1.5M tons/year of liquefied natural gas from the company's planned Corpus Christi export operations.
- The agreement is for 20 years from the first commercial delivery, with an option for an extension of as many as 10 years; deliveries are expected to start as soon as 2018.
- Endesa is the planned export operation's second foundation customer; the project is being designed with a total production capacity of 13.5M tons/year.
- Deutsche Bank raises its price target on LNG shares to $67 from $57 on the news, noting the contract represents ~33% of the volume from the first liquefaction train expected to be built at Corpus Christi.
Friday, Feb 218:41 AM|Friday, Feb 218:41 AM| Comment!
Monday, Feb 1010:59 AM
Monday, Feb 1010:59 AM| 6 Comments
- Cheniere Energy (LNG +1.3%) is upgraded to Outperform from Neutral at Credit Suisse, which says LNG's risk/reward profile has shifted to the upside after the stock's recent pullback.
- The firm says it refined several assumptions in its model which take its price target to $50 from $48 to $50, representing ~20% upside.
Tuesday, Jan 79:49 AM
Tuesday, Jan 79:49 AM| 11 Comments
- At least two tier-1 firms are out with positive initiation calls at price target raises on Cheniere Energy (LNG +5.6%): Morgan Stanley starts with an Overweight rating and $60 price target with a $129 bull case, while Barclays lifts its target to $65.
- Stanley sees LNG as a pure play exposure to liquefied natural gas infrastructure and development with a first-mover advantage, and Barclays expects various catalysts to drive continued momentum for LNG in 2014.
- Credit Suisse is more cautious, initiating shares at Neutral and $48 as it thinks LNG is currently pricing in much of the Cheniere Energy Partners (CQP +4%) story, including strong likelihoods of the SPL expansion and the Corpus Christi project; however, the firm likes CQP's strong long-term return proposition and reinstates coverage at Outperform.
Thursday, Dec 122013, 6:28 PM
Thursday, Dec 122013, 6:28 PM| 5 Comments
- Cheniere Energy (LNG) says the IPO for its Cheniere Energy Partners LP Holdings (CQH) subsidiary has been upsized to 36M shares from an initial size of 30M; the $20/share price is within the initial $19-$21 range.
- CQH is designed as a vehicle to own limited partner units of Cheniere Energy Partners (CQP).
Monday, Dec 92013, 9:55 AM
Monday, Dec 92013, 9:55 AM| 1 Comment
- Cheniere Energy (LNG +2.6%) agrees to two contracts worth a combined $9.5B with Bechtel to the engineering, procurement and construction of liquefied natural gas trains and facilities in Corpus Christi, Tex.
- Starting next year, Bechtel will build three LNG trains, three LNG storage tanks, and two berths to accommodate vessels with a capacity of up to 267K cubic meters.
- Besides the Corpus Christi project, Cheniere also is developing six LNG trains for the Sabine Pass Liquefaction project in Louisiana; Bechtel is a contractor on that project.
Friday, Dec 62013, 5:48 PM
Friday, Dec 62013, 5:48 PM| 2 Comments
- Cheniere Energy (LNG) jumped more than 13% this week after it announced its first deal to liquefy and ship natural gas from a planned facility in Corpus Christi to Indonesia, with components that were more lucrative than the company's prior liquefied natural gas contracts.
- The fixed rate for the contract of $3.50/Mbtu was higher than LNG's prior contracts to ship natural gas from the Sabine Pass export facility under construction in Louisiana that is scheduled to be the first to ship U.S. natural gas overseas.
- A variable component of the deal was less lucrative, however, with LNG agreeing to charge Pertamina an 11.5% premium on any gas it liquefies and ships, down from the standard 15% it had so far secured in other contracts.
Wednesday, Dec 42013, 6:17 PM
Wednesday, Dec 42013, 6:17 PM| 5 Comments
- Cheniere Energy (LNG) signs a 20-year liquefied natural gas sale and purchase agreement with Indonesia's PT Pertamina, in which Pertamina will purchase ~800K/year metric tons of LNG upon commencement of operations from the LNG export facility being developed near Corpus Christi, Tex.
- Pertamina is the first foundation customer for the Corpus Christi project, and the deal is the first long-term commitment made to procure liquefied natural gas from the international market for delivery into Indonesia.
Friday, Nov 82013, 2:55 PM
Friday, Nov 82013, 2:55 PM| 2 Comments
- Cheniere Energy (LNG +2.6%) says it received a contract price for construction of its planned export terminal in Corpus Christi, a step which will allow it to begin negotiating contracts with overseas buyers of natural gas because it can now incorporate the project’s costs.
- Bechtel, which provided the undisclosed price, is building liquefaction facilities at LNG's first terminal at Sabine Pass, La., the first facility to receive U.S. approval to ship natural gas to countries with which the U.S. doesn’t have free trade agreements. (Q3 earnings)
Friday, Nov 82013, 8:35 AM