Houston-based Cheniere Energy announced on Wednesday that they have signed a 20-year liquefied natural gas supply deal with a subsidiary of Petronas, Malaysia's state-owned oil and natural gas company.
According to the terms of the deal, Cheniere's Sabine Pass (export) LNG facility in Louisiana will supply 1.1 million tonnes of LNG per year on a free on-board basis for a 20-year term following the date of first commercial delivery for the sixth natural gas liquefaction train.
Although the financial terms of the deal were not disclosed by any of the companies, Cheniere confirmed that the purchase price of the LNG would be indexed at the monthly Henry Hub price, plus a fee.They also confirmed that according to the terms of the deal, the point of sale is at the loading point and Petronas would be responsible for arranging the shipping.
Cheniere Energy’s CEO Jack Fusco, in a statement said that Petronas will be a foundation customer for the company’s sixth production unit planned at i
For example, debt to EBITDA has historically been toward the low end of its peer group.Enterprise's leverage isn't a big risk.
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A diversified midstream energy infrastructure and logistics company, MPLX, has been growing leaps and bounds in the last few quarters.But only few have noticed.
Despite having excellent and fast improving fundamentals, along with a high yield, the company hasn’t been able fully engage investor interest.
As new weather forecasts by Jacob Meisel, chief weather analyst at Bespoke Weather Services, hinted that the cold snap would linger a little longer than expected, natural gas prices rallied to their highest finish since December 2016 - with front-month Nymex futures closing +5.1% to $3.71/MBtu.
Another tailwind to prices was a report that natural gas storage in U.S. is at its lowest level to start the winter heating season in nearly 15 years, and also 16% below the five-year average.
With the potential for natural gas shortage at the end of the season, most companies like EQM Midstream Partners (EQM, $47.22), Range Resources (RRC, $17.70), Chesapeake Energy (CHK, 3.63) and Cabot Oil & Gas (COG, $25.61) were some of the top gainers in Friday's trading session, with gains ranging between 2% to 5%.
The Fortune 500 natural gas and propane company, Energy Transfer Partners, on Wednesday announced their Q3 2018 earnings report where it reported a Q3 GAAP EPS of $0.32.missing analysts estimates by $0.10.
But the adjusted EBITDA of ET totaled a record $2.58 billion, while revenues jumped 45% on a y-o-y basis to $14.5 billion for the quarter, beating the estimate by $1.37 billion.
Liquefied natural gas shipper Golar LNG Limited reported improved revenue, EBITDA and net income for the quarter on the back of a resurgent shipping market.
The company reported that its fleet utilization in Q3 increased to 86% from 62% in Q1, resulting in its daily time charter equivalent earnings rising from $19,600 in Q1 to $41,200 in Q3.
Total operating revenues for the quarter net of expenses increased from $42.9 million in Q2 to $98.4 million in Q3.In addition to the approximately $51 million of tolling fee revenue, it also earned $11.3 million of Brent-linked revenue.
The latest move in the ongoing trade war between U.S. and China saw the Trump administration announce that the U.S. would be withdrawing from the Universal Postal Union, a 144-year-old-treaty among 192 nations that helps set international postage rates.
The trading community considered this move as a bullish decision for international shipping rates.Shipping stocks soared high on Monday and also helped garner a heavy dose of investor’s interest in overseas shipping stocks.
Top Ships Inc. (TOPS, $1.97) was the most notable runner amongst all the shipping stocks, as it recorded a +56% gain.