Last year was a transitional one for U.S. liquefied natural gas (LNG) export pioneer Cheniere Energy Inc. as exports from its Sabine Pass terminal in Louisiana ramped up. The company has become a leading buyer of U.S. natural gas and recently a buyer of gas from Western Canada, too.
Cheniere
Articles from Cheniere
Briefs — Cheniere Energy
Cheniere Energy Inc. has terminated negotiations with the conflicts committee of the board of directors of Cheniere Energy Partners LP Holdings LLC regarding Cheniere’s previously announced proposal to acquire all of the publicly held shares of Cheniere Partners Holdings not already owned by Cheniere in a stock-for-stock merger transaction. “After more than six weeks of negotiations, and despite raising the offer to an exchange ratio of 0.54 (representing a premium of approximately 10% over the closing price of Cheniere Partners Holdings’ shares based on the closing prices of Cheniere Partners Holdings’ shares and of Cheniere’s shares as of Sept. 29, 2016…Cheniere has determined that no acceptable definitive agreement can be reached with the conflicts committee at this time,” the company said. Cheniere currently owns 80.1% of the issued and outstanding shares of Cheniere Partners Holdings.
FERC Starts Pre-File Process For Cheniere’s Midcon-to-Gulf Pipe Project
FERC agreed to initiate the pre-filing process Wednesday for the MIDSHIP Project, a Midcontinent-to-Gulf Coast transmission project being backed by Cheniere Midstream Holdings Inc.
Briefs — Cheniere Energy
Cheniere Energy Inc.has offered to buy the remaining shares of Cheniere Energy Partners LP Holdings LLC it does not already own in a stock exchange. Cheniere is offering 0.5049 Cheniere shares for each outstanding publicly-held shares of Cheniere Partners Holdings as part of a transaction that would be structured as a merger of Cheniere Partners Holdings with a subsidiary of Cheniere. The offer represents a value of $21.90/share of Cheniere Partners Holdings, or a premium of 3.0% based on Thursday’s closing price. Cheniere Partners Holdings owns a 55.9% limited partner interest in Cheniere Energy Partners LP. Cheniere Partners Holdings’ only business consists of owning Cheniere Partners units and, accordingly, its results of operations and financial condition are dependent upon the performance of Cheniere Partners. “We believe the proposed transaction is attractive to investors in Cheniere Partners Holdings who, as new LNG [Cheniere Energy Inc.] shareholders, would have the opportunity to participate in the future success of the entire Cheniere complex,” said Cheniere Energy Inc. CEO Jack A. Fusco. “In addition, shareholders of Cheniere Partners Holdings would receive an attractive premium over its recent trading levels and a significant increase in the trading liquidity of their investment.”
FERC OKs GOM System Abandonment Over Shipper Objections
Shippers challenging the abandonment by sale of TC Offshore LLC’s Grand Chenier System for reversal to serve a liquefied natural gas (LNG) export terminal proposed for the Gulf of Mexico (GOM) by Avocet LNG LLC were turned back by FERC in an order issued Thursday.
Cheniere Exec Gentle Jumps Ship to Rival Souki Venture
Former Cheniere Energy Inc. marketing executive Meg Gentle has ponied up $10 million of her takings from that company to buy into startup liquefied natural gas (LNG) developer Tellurian Investments, which was co-founded by ousted Cheniere co-founder Charif Souki. Gentle will be Tellurian’s president and CEO, and a member of its board.
NGI The Weekly Gas Market Report
Cheniere Focusing on Long-Term LNG Contracts; Posts $298M 2Q2016 Loss
Awash in red ink, Cheniere Energy officials said Tuesday the liquefied natural gas (LNG) operations are adding to earnings and improving cash flow, and they plan to pursue long-term LNG contracts to keep that trend on the ascent.
People — Keith Meyer
The Alaska Gasline Development Corp.(AGDC) has appointed Keith M. Meyerpresident following a five-month search to replace Dan Fauske, who resigned. Meyer has more than 35 years of industry experience, including 15 years focused on liquefied natural gas (LNG) initiatives. He has managed the development of large-scale infrastructure projects spanning four continents to include LNG terminals, natural gas pipelines, power plants, gas liquids plants, storage, and gas separation projects. He joins AGDC from LNG America, an energy logistics company he founded in 2008 to provide end-to-end LNG distribution solutions to increase the use of LNG as a fuel source within the marine, transportation and other high-horsepower industries. Meyer was previously president of Cheniere LNGwhere he oversaw the development of the Sabine Pass receiving terminal in Louisiana. He has also worked for CMS Energy Inc.and ANR Pipeline Co.Meyer takes the helm of AGDC following the state of Alaska’s $65 million acquisition of TransCanada Corp.’s interest in the Alaska LNGproject (see Daily GPI,Nov. 5, 2015). AGDC holds the state’s 25% interest in the 20 million tonne per annum LNG export project, which is completing a $400 million preliminary front-end engineering design phase this year.
New Souki-Houston Venture Files For First Louisiana LNG Terminal
Liquefied Natural Gas (LNG) veterans Martin Houston and Charif Souki have applied at FERC to begin the pre-filing review of the first Gulf Coast terminal project of a venture they founded earlier this year.
New Souki-Houston Venture Files For First Louisiana LNG Terminal
Liquefied Natural Gas (LNG) veterans Martin Houston and Charif Souki have applied at FERC to begin the pre-filing review of the first Gulf Coast terminal project of a venture they founded earlier this year.