Sabine Pass LNG Receives “BB” Credit Rating
Posted on Mar 18, 2008 in Financing, Regas Terminals & Capacity | Comments Off on Sabine Pass LNG Receives “BB” Credit Rating
Standard & Poor’s Ratings Services gave Sabine Pass LNG LP a “BB” credit rating, coupled with a stable outlook, in its annual review. S&P noted that cost overruns during the final stages of construction could result in a lower credit rating. Forbes provides...
Cheniere “Evaluating Strategic Options” for Sabine Pass Terminal
Posted on Feb 26, 2008 in Financing, Regas Terminals & Capacity | Comments Off on Cheniere “Evaluating Strategic Options” for Sabine Pass Terminal
Cheniere Energy announced yesterday that it is assessing strategic options to enhance shareholder value at its Sabine Pass LNG terminal, and has chosen Credit Suisse to serve as its financial advisor during the process. “We do not believe that our current market valuation is reflective of the true value of this unique asset, and we are therefore exploring options to enhance value...
RWE Buys 50% Stake in Excelerate for $500 Million
Posted on Feb 15, 2008 in Financing, Markets and Competition | Comments Off on RWE Buys 50% Stake in Excelerate for $500 Million
German utility RWE announced yesterday that it will pay $500 million for a 50% stake in LNG terminal developer Excelerate Energy. Bloomberg News (carried via the Houston Chronicle) provides further...
El Paso Secures 50% Stake in Gulf LNG Project
Posted on Feb 11, 2008 in Financing, Regas Terminals & Capacity | Comments Off on El Paso Secures 50% Stake in Gulf LNG Project
Platts LNG Daily [subscription required] reports that El Paso has closed on its acquisition of a 50% stake in the Gulf LNG project. Platts notes that an El Paso subsidiary is overseeing construction of the project and will also serve as the operator of the terminal when commercial operations...
Three Expected to Bid for Manzanillo LNG Terminal
Posted on Jan 29, 2008 in Canada & Mexico, Financing, Regas Terminals & Capacity | Comments Off on Three Expected to Bid for Manzanillo LNG Terminal
According to a Mexican official, three companies – Union Fenosa, Mitsui, and Mitsubishi – are expected to submit bids by Feb. 7 to build an LNG terminal in Manzanillo. The terminal is expected to come online in 2012. Dow Jones [carried via Energy Central Professional (subscription required)] has...
Osaka Gas Purchases Share of Freeport LNG
Posted on Jan 16, 2008 in Financing, Regas Terminals & Capacity | Comments Off on Osaka Gas Purchases Share of Freeport LNG
World Gas Intelligence [subscription required] reports that Osaka Gas purchased a 10% stake in Freeport LNG from the U.S. firm Contango. Though Contango had to report its sale several days ago, the Japanese purchaser had not been named publicly. Osaka Gas has yet to disclose its plans for the ownership...