Cheniere Negotiating Agreement to Transfer Management of LNG Imports at Sabine Pass LNG Terminal
Posted on Apr 16, 2008 in Financing, Regas Terminals & Capacity | Comments Off on Cheniere Negotiating Agreement to Transfer Management of LNG Imports at Sabine Pass LNG Terminal
Citing difficult capital markets, Cheniere Energy, Inc. announced yesterday that the company is finalizing an agreement with a North American natural gas marketing company to handle imports of LNG on Cheniere’s account at the Sabine Pass LNG terminal. The arrangement would allow Cheniere to be reimbursed for certain costs, while both companies would share the proceeds from sales of regasified LNG.
Additionally, Cheniere announced that Stan Horton, Cheniere’s president, would be leaving the company, effective immediately. RTT News provides further details.