Industry Officials Concerned that U.S. Financial Crisis Could Affect LNG Sector
Posted on Sep 25, 2008 in Financing | Comments Off on Industry Officials Concerned that U.S. Financial Crisis Could Affect LNG Sector
Speaking at the 3rd Asia LNG Summit in Shenzhen, China, Stephen Del Regno, managing director of Asia for Chevron International Gas, expressed concerns that the current financial crisis in the United States could “cascade,” affecting both upstream and downstream aspects of the LNG value chain. A number of other LNG industry officials concurred. Platts LNG Daily provides...
Sakhalin LNG Receives Financing to Complete Project
Posted on Jun 16, 2008 in Financing, Liquefaction | Comments Off on Sakhalin LNG Receives Financing to Complete Project
Reuters (U.K.) reports that Sakhalin Energy Investment Co. has secured $5.3 billion from the Japan Bank for International Cooperation and a consortium of international banks to finance the last stages of construction and the commissioning of the Sakhalin LNG liquefaction project. Gazprom, one of the project developers, announced earlier this spring that it expects the project to begin...
Analysis: As U.S. LNG Imports Decline, Cheniere Faces Difficult Financial Situation
Posted on May 30, 2008 in Financing, Regas Terminals & Capacity | Comments Off on Analysis: As U.S. LNG Imports Decline, Cheniere Faces Difficult Financial Situation
An analysis carried by the Houston Chronicle examines the challenging financial situation facing Cheniere Energy. The piece notes that Cheniere is considering options that include selling the company or selling the Sabine Pass LNG regasification...
Investment Ratings Service Downgrades Sabine Pass LNG’s Credit Rating
Posted on May 20, 2008 in Financing, Regas Terminals & Capacity | Comments Off on Investment Ratings Service Downgrades Sabine Pass LNG’s Credit Rating
Moody’s Investors Service [free registration required] has downgraded its rating of Sabine Pass LNG, L.P., citing parent company Cheniere Energy Inc.’s “stressed liquidity position” starting in 2009. Moody’s also notes that “the rating outlook is negative” for Sabine Pass...
Cheniere Stock Drops Amid Cash Flow Concerns
Posted on Apr 18, 2008 in Financing, Regas Terminals & Capacity | Comments Off on Cheniere Stock Drops Amid Cash Flow Concerns
Bloomberg News (carried via the Houston Chronicle) reports that shares of Cheniere Energy continue to lose value, including a 16% drop yesterday, on fears that the company may not be able to finance its debt given a dearth of LNG cargos expected at its planned and existing terminals, including Sabine...
Cheniere Negotiating Agreement to Transfer Management of LNG Imports at Sabine Pass LNG Terminal
Posted on Apr 16, 2008 in Financing, Regas Terminals & Capacity | Comments Off on Cheniere Negotiating Agreement to Transfer Management of LNG Imports at Sabine Pass LNG Terminal
Citing difficult capital markets, Cheniere Energy, Inc. announced yesterday that the company is finalizing an agreement with a North American natural gas marketing company to handle imports of LNG on Cheniere’s account at the Sabine Pass LNG terminal. The arrangement would allow Cheniere to be reimbursed for certain costs, while both companies would share the proceeds from sales...