Cheniere Energy's LNG Export Facility Will Look to Have a Positive Impact on Natural Gas Prices
July 16 2012 - 8:20AM
Marketwired
Natural gas prices received a boost last week after Cheniere Energy
announced it expects to receive $3.4 billion in financing for a
liquefied-natural-gas export facility. The export facility would
have the potential to help ease the country's current glut of
natural gas by allowing natural gas producers to ship the fuel
overseas. Five Star Equities examines the outlook for companies in
the Natural Gas Industry and provides equity research on Cheniere
Energy, Inc. (NYSE: LNG) and Chesapeake Energy Corp. (NYSE: CHK).
Access to the full company reports can be found at:
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Cheniere announced on Thursday that eight banks have committed
to finance the first liquefied-natural-gas export facility in the
U.S. The facility will be located in Louisiana and will allow the
company to export 1.1 billion cubic feet a day by the end of 2015,
according to a recent Wall Street Journal article. "They have all
the capital they need, they have all the permitting they need,"
said Will Frohnhoefer, BTIG. "I think they're good to go."
The U.S. Energy Information Administration on Thursday reported
that natural gas storage levels increased by 33 billion cubic feet.
While the levels were above analysts' estimates they were well
below the 90 bcf average for this time of year.
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"Including the recently announced $2 billion of equity
commitments, we have now received financial commitments of
approximately $5.4 billion for the construction of Trains 1 and 2
of our Liquefaction Project. Our Credit Facility will be one of the
larger facilities in the project financing market, underlying the
strong fundamentals of the transaction," said Charif Souki,
Chairman and CEO.
Chesapeake Energy has scheduled its 2012 second quarter
operational update and financial results to be released after the
close of trading on Monday, August 6, 2012. Chesapeake's average
daily production of 3.658 bcfe for the 2012 first quarter consisted
of approximately 2.976 billion cubic feet of natural gas (81% on a
natural gas equivalent basis) and approximately 113,600 barrels of
oil and natural gas liquids (19% on a natural gas equivalent
basis).
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