Cheniere Reports Net Losses in First Quarter
Posted on May 10, 2007 in Financing, Markets and Competition | Comments Off on Cheniere Reports Net Losses in First Quarter
Citing high operational costs, Cheniere Energy Inc. announced on Wednesday a net loss of $34.6 million for the first quarter, on oil and gas sales of $832,000. Cheniere ascribed some of these losses to $2 billion in senior notes offered by wholly-owned subsidiary Sabine Pass LNG LP, in November, 2006. The Houston Business Journal provides further...
Foreign Affairs Committee Chairman Criticizes OMV’s Deal with Iran
Posted on Apr 25, 2007 in Financing, Policy, Legislation and Politics | Comments Off on Foreign Affairs Committee Chairman Criticizes OMV’s Deal with Iran
The International Herald-Tribune reports that U.S. Rep. Tom Lantos (D-CA), Chairman of the House Committee on Foreign Affairs, said Tuesday that he is outraged by the proposed LNG export deal between Iran and Austria’s oil and gas firm OMV. Rep. Lantos said that if the deal is finalized, OMV could face U.S. sanctions under either the Iran Sanctions Act or new legislation that he...
U.S. Government Seeks to Dissuade Austrian Firm from Investing in Iran
Posted on Apr 24, 2007 in Federal Regulation, Financing, Policy, Legislation and Politics | Comments Off on U.S. Government Seeks to Dissuade Austrian Firm from Investing in Iran
According to an AFP report cited in Platts LNG Daily, the U.S. State Department will attempt to dissuade Austria’s largest oil and gas firm, OMV, from finalizing a $30 billion LNG export deal with Iran. If OMV completes the deal, it could trigger sanctions under the Iran Sanctions Act (2006), which imposes economic sanctions on corporations that make significant investments in...
Perry, Maine Residents to Vote on Proposed Quoddy Bay LNG Agreement
Posted on Mar 26, 2007 in Financing, Policy, Legislation and Politics, Regas Terminals & Capacity, State and Local Issues, Storage | Comments Off on Perry, Maine Residents to Vote on Proposed Quoddy Bay LNG Agreement
Residents of Perry, Maine are set to vote today on a financial deal between the town and Quoddy Bay LNG. Under the agreement, the town would receive $3.6 million per year for hosting the proposed terminal. Another ballot question will ask whether the town should have an LNG negotiating committee. Local coverage is available in The Bangor Daily...
Cheniere Energy Partners Well-Received During First Day of Trading
Posted on Mar 22, 2007 in Financing, Regas Terminals & Capacity | Comments Off on Cheniere Energy Partners Well-Received During First Day of Trading
Platts LNG Daily reports on the success of Cheniere Energy Partners’ initial public offering, which gained 3% during its first day of trading yesterday on the American Stock Exchange. Cheniere Energy Partners will own the 4 Bcf/d Sabine Pass LNG terminal. [Subscription...
Proposed Regas Facility in El Salvador to Begin Seeking Investors
Posted on Mar 9, 2007 in Environmental, Financing, Regas Terminals & Capacity | Comments Off on Proposed Regas Facility in El Salvador to Begin Seeking Investors
The developers of the proposed Cutuco Energy Central America regasification terminal in the city of La Union will begin seeking institutional investors to fund construction of the first phase of the terminal, with the goal of opening the facility in 2010 with a capacity of 100,000-Mcf/d. El Salvador recently approved an environmental impact statement for the project. Platts LNG...