Cheniere Energy jumps 8% after U.S. approves liquefaction project

Cheniere Energy (LNG) shares are rallying after the Federal Energy Regulatory Commission announced last night that it approved a proposal by Sabine Pass to site, construct and operate facilities to liquefy domestic natural gas for export to markets worldwide. This is FERC's first authorization of a project that would export liquefied natural gas from production resources within the United States, the agency said. Sabine Pass is a 100% owned subsidiary of Cheniere Energy. Shares of Cheniere Energy are rallying 8%, or 8%, to $18.30 in pre-market trading.