Cheniere Energy Inc. wants investors to know that it intends to be a major player in the liquefied natural gas (LNG) business. The next best thing to changing its name to LNG is changing its stock ticker symbol. Effective next Monday (March 24), its symbol on the American Stock Exchange will change to LNG from CXY. The company has four potential sites for liquefied natural gas (LNG) import terminals along the Texas Gulf Coast and sees LNG as its strategic focus in the future because of declining domestic natural gas supply. “We have established a strong exploration and production foundation for Cheniere with growing natural gas reserves, cash flow and inventory of prospects that together become more valuable daily as our nation’s natural gas markets hover on almost historically low inventories. However, domestic exploration is no longer sufficient to assure meeting the growth in demand for natural gas, and our country will increasingly rely on imports in the form of LNG,” said Cheniere Energy Chairman Charif Souki said. “This symbol will reflect our new area of focus.” Houston-based Cheniere conducts exploration in the Gulf using a regional database of 7,000 square miles of 3D seismic coverage. It owns 9% of Gryphon Exploration.
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Cheniere Changes Stock Ticker Symbol to LNG
Cheniere Energy Inc. wants investors to know that it intends to be a major player in the liquefied natural gas (LNG) business. The next best thing to changing its name to LNG is changing its stock ticker symbol. Effective next Monday (March 24), its symbol on the American Stock Exchange will change to LNG from CXY.
California Wants to Settle with El Paso, Governor Says
California officials are continuing to negotiate with Houston-based El Paso Corp., hoping for a settlement of the state’s multi-billion-dollar claims of overcharges by one of the state’s principal natural gas suppliers, Gov. Gray Davis said Tuesday in Washington, DC, where he is attending a National Governors Association conference.
California Wants to Settle with El Paso, Governor Says
California officials are continuing to negotiate with Houston-based El Paso Corp., hoping for a settlement of the state’s multi-billion-dollar claims of overcharges by one of the state’s principal natural gas suppliers, Gov. Gray Davis said Tuesday in Washington, DC, where he is attending a National Governors Association conference.
Consumer/Environmental Activist to Head CPUC Staff
In another indication that California’s new top regulator wants his own team, the California Public Utilities Commission (CPUC) Thursday replaced its civil service executive director with an outsider who is a long-term consumer/environmental activist, Bill Ahern, a former state government manager who has been a senior policy analyst in the Consumers Union San Francisco office.
CA Power Authority Wants to Establish 22% Reserve Target
Barely visible in this time of extreme budget constraints, the California Consumer Power and Conservation Financing Authority (power authority), will reemerge in Sacramento later this month to set the stage for establishing a 22% electricity reserve target for the state next month in one of its first rulemakings as an neophyte state agency spawned by the now long-gone electricity crisis of 2000-2001. One quarter to one half of the new target would come from demand-side management, according to a draft proposal.
Wood Presses For Common Approach to Market Monitoring
FERC Chairman Pat Wood last Wednesday said that he wants to see regional market monitors move in concert with the federal agency toward what he called a “common approach” to monitoring power markets throughout the United States. Along with regular meetings between federal and state market monitoring officials, that goal can be achieved through FERC’s ongoing regional transmission organization (RTO) and standard market design (SMD) efforts, he said.
Nymex Wants to Be Like ICE
The New York Mercantile Exchange (Nymex) stepped up the competition with IntercontinentalExchange (ICE), the energy industry’s most widely used electronic over-the-counter (OTC) energy trading platform, by announcing plans to introduce its own trading platform designed for the OTC energy market. The system begins beta testing this week and will be launched in January.
Nymex Wants to Be Like ICE
The New York Mercantile Exchange (Nymex) stepped up the competition with IntercontinentalExchange (ICE), the energy industry’s most widely used electronic over-the-counter (OTC) energy trading platform, by announcing plans to introduce its own trading platform designed for the OTC energy market. The system begins beta testing next week and will be launched in January.
TXU Wants Shareholder Permission to Reclassify Equity to Pay Dividend
The administrative filing by TXU Corp.’s European business unit will have no effect on North American or Australian businesses, the Dallas corporation reported last week. However, the utility giant will ask shareholders for permission to reclassify nearly $7.5 billion of equity to “surplus” capital from “stated” capital to fund its dividend, which was slashed by 80% last month as TXU Europe collapsed.
