Cheniere Energy rises after partnership signs long-term deal with Total

theflyonthewall.com

Cheniere Energy (LNG) is climbing after the company's limited partnership, Cheniere Energy Partners (CQP), signed a 20 year deal deal with French energy company Total (TOT). Under the deal, which was announced earlier this morning, Total agreed to buy about 2M tons of liquid natural gas annually from Cheniere Energy Partners. Total will buy the gas at fixed premium to the monthly Henry Hub price. Deliveries of the natural gas could start as early as 2018, Cheniere Energy Partners indicated. The deal is subject to certain conditions, including the attainment by Cheniere Energy Partners of required regulatory approvals and obtaining financing. In mid-morning trading, Cheniere Energy rose 70c, or 4.10%, to $17.79, while Cheniere Energy Partners advanced 3.61% to $20.95.

Rates

View Comments (0)