Folds

Cheniere Energy’s stock dropped $5.34, or more than 9%, to $51.16 Thursday after the company announced late Wednesday that ChevronTexaco had broken off negotiations for an ownership stake in Cheniere’s Sabine Pass LNG partnership.

Cheniere Energy’s stock dropped $5.34, or more than 9%, to $51.16 Thursday after the company announced late Wednesday that ChevronTexaco had broken off negotiations for an ownership stake in Cheniere’s Sabine Pass LNG partnership.

The Senate voted unanimously Friday to amend its broad energy bill to include previously passed legislation calling for stricter safety standards for natural gas and hazardous liquids pipelines.

Southern Natural Gas closed a major deal with its customers lastweek that will give them a $44 million rate cut in exchange forlong-term contracts that lock up the majority of Sonat’s firmtransportation and storage capacity through 2005. The rate cutamounts to an overall 4.5%-5% reduction in systemwide demandcharges.

A new settlement agreement will give Southern Natural Gas customersan overall 4.5%-5% reduction in systemwide demand charges and lock incontracts for the majority of its transportation and storage capacitythrough 2005. The rate cut is in stark contrast to the substantialrate increases Southern Natural proposed last fall, and it includes asignificant cut in rates for affiliate South Georgia Gas customers(see Daily GPI, Oct. 4).