Cheniere Energy jumps 8% after U.S. approves liquefaction project - Yahoo! Finance

Cheniere Energy (LNG) shares are rallying after the Federal Energy Regulatory Commission announced last night that it approved a proposal by Sabine Pass to site, construct and operate facilities to liquefy domestic natural gas for export to markets worldwide. This is FERC's first authorization of a project that would export liquefied natural gas from production resources within the United States, the agency said. Sabine Pass is a 100% owned subsidiary of Cheniere Energy. Shares of Cheniere Energy are rallying 8%, or 8%, to $18.30 in pre-market trading

 

This company buys natural ga sat around 2 dollars per thousand and transports it to asian markets for 12 to 17 bucks per thousand

with the abundunce of natural gas in the USA this company will score big time with this venture.............I bought in at around 11 bucks a share and its up to 17. 65 right now

 

10 billion dollar plant


NEW YORK (CNNMoney) -- The government approved the first ever natural gas export facility in the lower 48 states on Monday, clearing the way for a project that could be a significant job creator.

But critics argue that, just like the Keystone pipeline expansion, building this project will have environmental impacts far beyond the plant itself. They also say it could raise the price of natural gas in the U.S.

The Federal Energy Regulatory Commission voted in favor of Texas-based Cheniere Energy's plan to build a giant natural gas liquefaction and export terminal at Sabine Pass, which straddles the Texas-Louisiana boarder just north of the Gulf of Mexico.

Although environmentalists have threatened to sue to stop the 500-acre, $10 billion project, Cheniere says it plans to start building before July.

Analysts agree that the project should proceed as planned.

"We do not see any items hampering the timely start of construction," Christine Tezak, an energy and environmental policy analyst at asset management firm Robert W. Baird & Co., wrote in a research note Tuesday.

For Cheniere (LNG) and the energy industry at large, getting government approval is huge