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ISIN: US16411R2085 | WKN: 580884 | Symbol: LNG
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Report: Cheniere completes first spot LNG sale
LNG player Cheniere, based in Houston, has reportedly sold its first spot LNG cargo last week.

Sources told Platts that the maiden trade was completed at $7.20 per mmBtu and the cargo will be delivered onboard the 162,000 cbm Clean Ocean LNG carrier in July to an Asian buyer.

Cheniere has chartered the vessel from Dynagas on a five-year deal ending in the second quarter of 2020 with an option to extend the deal for additional two years. The vessel has been chartered together with two Teekay’s 173,400 cbm LNG carrier newbuilds under construction by Daewoo Shipbuilding & Marine Engineering of South Korea scheduled for delivery in the first half of 2016.

Cheniere plans to market up to 5 mtpa of LNG from its US-based export projects through its office in Singapore.

The Clean Ocean LNG carrier is currently on idle offshore Singapore, according to shipping data.
interessant:
http://www.valuewalk.com/2015/09/cheniere-energy-jim-chanos


Jim Chanos Announces A New Short Position In Cheniere Energy

Jim Chanos, the legendary short seller who made a name for himself by betting against Enron, announced on CNBC this morning that his hedge fund, Kynikos Associates, has built a new short position in liquefied natural gas player Cheniere Energy.

Chanos called Cheniere Energy a "looming disaster," based on the stock's high valuation, debt levels and the oversupply of LNG to the market. "LNG demand isn't growing anymore. We already have excess capacity, and we're about to pretty much almost double the capacity globally over the next four years," he said.

Chanos continued, "with the stock at 30 times 2020 earnings, with the upside coming from a glutted market...we think the risk-reward in this, given where other LNG plays are in Australia and elsewhere, is just completely out-of-whack."


Cheniere bulls
Chanos' move has pitted him against legendary hedge fund manager Seth Klarman and Carl Ichan, both of whom have built sizable long positions in Cheniere.

At the beginning of August, Carl Icahn announced an 8.2% stake in the liquefied natural gas company and his representatives said that they intended to have talks with the company’s management and board about operations, capital expenditures, financing and executive compensation. A few weeks later, Cheniere reached an agreement with Carl Icahn and named two Icahn Capital LP managing directors to its board.

Renowned value investor Seth Klarman also holds a large position in Cheniere. According to SEC filings, Klarman's Baupost hedge fund owns 15.37 million Cheniere shares, which make up just under 18% of the fund's public equity portfolio and 6.5% of Cheniere's outstanding stock. At time of writing, this holding is worth around $850 million.


Remains a mystery
It remains a mystery why Seth Klarman has decided to go overweight Cheniere; it's hardly a traditional value stock. But Seth Klarman does many things ordinary investors can't, or won't do.

But it's clear that there is some value to be found in Cheniere's long-term LNG supply agreements. The company s preparing to export the first major amounts of US natural gas by sea later this year from its plant on Louisiana's Gulf Coast and has signed deals with buyers to purchase the gas over 20 years.

These multi-decade contracts promise to generate billions of dollars annually in steady cash flow once gas shipments begin. However, the group has reported a loss every year since it was founded two decades ago.
Engie strikes 5-year LNG SPA with Cheniere
France’s Engie said it has executed a 5-year deal with US LNG player Cheniere to buy up to 12 LNG cargoes per annum.

According to the agreement, the cargoes will be delivered ex-ship at the Montoir-de-Bretagne regasification terminal in France from Cheniere’s Corpus Christi and Sabine Pass LNG export plants currently under construction in Texas.

The sales price for the LNG cargoes is linked to Northern European indexes. The deliveries will start in 2018, Engie said on Wednesday.

The US LNG can alternatively be shipped to other European terminals, the French company added.
Report: Production starts at Sabine Pass LNG
Production of liquefied natural gas at Cheniere’s Sabine Pass liquefaction facility kicked off, according to the one of the project’s financiers, ING Capital.

Richard Ennis, head of natural resources at ING told Bloomberg that the facility is receiving about 50 million cubic feet of feed gas per day, liquefying it and preparing for export.

Cheniere has not responded to an email by LNG World News seeking confirmation of the production start by the time this article was published.

Cheniere’s former CEO Charif Souki earlier said that the first cargo will leave the facility in January, and Ennis added that the project is on schedule to achieve that as the storage tanks should have a shipload ready during the month.

Sabine Pass facility will have a total of six liquefaction trains all producing approximately 4.5 mtpa of LNG and it is expected that all six will be commissioned by 2018.

The initial cargo from the plant will be loaded onboard a BG Group’s LNG carrier as the UK-based company is contracted to take the first shipment.
Antwort auf Beitrag Nr.: 51.423.501 von R-BgO am 06.01.16 13:21:18
Update: Cheniere confirms it will ship first LNG export cargo in Jan
(Updated with a response by a Cheniere spokesperson, 06.01. 2016)

U.S. LNG player Cheniere confirmed it will send the first cargo of chilled gas from its Sabine Pass liquefaction facility this month after the plant recently started producing the fuel.

“We expect first cargo this month,” a Cheniere spokesperson told LNG World News in a brief emailed statement on Wednesday.

The initial cargo from the plant in Cameron Parish, Louisiana will be loaded onboard a BG Group’s LNG carrier as the UK-based company is contracted to take the first shipment.

Richard Ennis, head of natural resources at ING Capital, one of the LNG export project’s financiers, said last week that the Sabine Pass facility is receiving about 50 million cubic feet of feed gas per day, liquefying it and preparing for export, Bloomberg reported.

Cheniere’s Sabine Pass liquefaction facility will be the first of its kind to export cheap and abundant U.S. shale gas to overseas markets.

The facility will have a total of six liquefaction trains all producing approximately 4.5 mtpa of LNG and it is expected that all six will be commissioned by 2018.
Antwort auf Beitrag Nr.: 51.430.602 von R-BgO am 07.01.16 09:04:55
und wieder raus ausse' Kartoffeln...:

Cheniere pushes back first Sabine Pass LNG export cargo

Houston-based LNG player Cheniere said Thursday it expects first cargo from the Sabine Pass liquefaction project in late February or March 2016.

The first commissioning cargo from the liquefaction and export facilty in Cameron Parish, Louisiana was initially expected to occur by late January.

According to a statement by Cheniere, instrumentation issues were discovered during the final phases of plant commissioning and cool down that will require some additional work over the next few weeks.

“With construction of Train 1 finished, we remain well ahead of the guaranteed contractual schedule with Bechtel and anticipate no issues in meeting all contractual targets and guaranteed completion dates. Additionally, construction for Trains 2-5 continues to be on an accelerated schedule and these trains are expected to come on-line on a staggered basis,” said Neal Shear, Interim President and CEO of Cheniere.

“Bechtel will hand over care, custody and control of each train as they complete its scope of work,” Shear added.

Cheniere is developing and constructing natural gas liquefaction facilities at its existing Sabine Pass LNG import terminal. The company plans to construct over time up to six liquefaction trains, which are in various stages of development. Each train is expected to have a nominal production capacity of about 4.5 mtpa of LNG.

The company has entered into six third-party LNG sale and purchase deals that in total equate to about 19.75 mtpa of LNG.

Cheniere’s Sabine Pass liquefaction facility will be the first of its kind to export cheap and abundant U.S. shale gas to overseas markets.
Antwort auf Beitrag Nr.: 51.498.057 von R-BgO am 15.01.16 09:46:27
Cheniere delays Sabine Pass completion date
U.S.-based LNG player Cheniere Energy has postponed the completion date for the first liquefaction train at its Sabine Pass LNG export terminal in Louisiana.

“Actual project progress supports the achievement of substantial completion for Trains 1 and 2 by May 2016 and August 2016, respectively,” Cheniere said in the latest construction report filed with the U.S. FERC.

These dates are two months later than the company predicted in the November report.

Houston-based Cheniere has also delayed the first cargo from the Sabine Pass liquefaction project to late February or March 2016.

The first commissioning cargo from the liquefaction and export facilty in Cameron Parish, Louisiana was initially expected to occur by late January.

Cheniere also delayed the substantial completion date for the second Sabine pass liquefaction train to August from June.

Trains 3 and 4 targeted substantial completion dates remained April 2017 and August 2017, “with schedule recovery expected in the summer of 2016 as labor resource is transitioned from Stage 1 onto Stage 2″, Cheniere said in the report.

Cheniere is building liquefaction and export facilities at its existing import terminal located along the Sabine Pass River on the border between Texas and Louisiana.

The company plans to construct over time up to six liquefaction trains, which are in various stages of development. Each train is expected to have a nominal production capacity of about 4.5 mtpa of LNG.

Cheniere’s Sabine Pass liquefaction facility will be the first of its kind to export cheap and abundant U.S. shale gas to overseas markets.
Ist schon irgendwie cool...,
hatte keine Ahnung, dass Sabine Pass auch schon von Cheniere ursprünglich als IMPORT-facility geplant war:

http://oilpro.com/links/29172/us-enters-brave-new-world-begi…


Auszug:

"The beginning

In 2001, Cheniere Energy made an announcement to build four LNG import terminals in Louisiana, at a cost of $1.2 billion. As Charif Souki, Cheniere’s CEO at the time, hit the road to raise money, he told investors a simple message: The US is addicted to natural gas and we are running out of it. Therefore, we must import natural gas via LNG from abroad. After seven years, Souki and Cheniere’s vision became a reality, with the inauguration the Sabine Pass LNG import facility in April 2008.

But between 2001 and 2008, the forecast for US natural gas went from gas shortages to gas gluts. Showing off a sparkling new, state of the art LNG import facility, Cheniere was literally trying to sell natural gas into a sufficiently supplied market. It was like trying to sell ice in the North Pole or chocolate to someone in Hershey, Pennsylvania.

Cheniere then set out to do the complete opposite of what the planned to do a decade ago: export LNG. In September 2010, Cheniere was the first company to apply with the US Department of Energy for a permit to export LNG.


The art of a deal

By late 2011, Souki managed to work out a deal for Cheniere to sell $8 billion of LNG over 20 years to BG Group, which is now owned by Shell. In a nutshell, Souki’s pitch was this: US natural gas prices are forecast to stay low because of the abundance of newly-accessible shale gas resources, while natural gas and LNG prices are expected to remain high in Asia.

Why was Cheniere so confident that LNG prices were going to stay high in Asia? At the time, nearly all LNG prices in Asia were linked to oil.

This value proposition was successful, as Cheniere has been able to sell 80% of their LNG export capacity at Sabine Pass under take-or-pay contracts."
Clap, clap,...:
Update: first Sabine Pass LNG export cargo loaded and ready to depart

(Updated with a comment by United States Secretary of Energy, Ernest Moniz, 24.02. 2016)

Cheniere’s Sabine Pass liquefaction and export facility in Louisiana is to ship its first cargo of chilled gas to Brazil on Wednesday.

The 160,000 cbm carrier Asia Vision, owned by energy giant Chevron, is fully loaded with LNG and is ready to depart from the facility, United States Secretary of Energy, Ernest Moniz told the IHS CERAWeek energy conference currently being held in Houston, Texas.

Earlier today, Meg Gentle, President of Cheniere Marketing said at the same conference that the LNG tanker was still taking chilled gas from the liquefaction facility.

Cheniere began producing liquefied natural gas from the Sabine Pass first train last week while loading operations began earlier this week following the Sunday arrival to the facility of the LNG carrier.

The Sabine Pass liquefaction facility will be the first of its kind to export cheap and abundant U.S. shale gas to overseas markets.

Cheniere is building liquefaction and export facilities at its existing import terminal located along the Sabine Pass River on the border between Texas and Louisiana.

The company plans to construct over time up to six liquefaction trains, which are in various stages of development. Each train is expected to have a nominal production capacity of about 4.5 mtpa of LNG.


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