LNG Reports: Cheniere Energy, Inc. (LNG) Warns on LNG projects, Chevron Corporation (CVX) & Temasek

Editor’s Note: Cheniere Energy, Inc. (NYSEMKT:LNG), Chevron Corporation (NYSE:CVX)

Chevron warns on LNG projects: report (Business Spectator)
Roy Krzywosinski, the local head of Chevron Corporation (NYSE:CVX) has delivered a stark warning to Australia, saying the multi-billion dollar expansion of two liquefied natural gas (LNG) projects in Western Australia will require a “structural change” to the nation’s cost base, The Australian Financial Review reports. According to the newspaper, Mr Krzywosinski said regardless of which party forms the next government, securing energy investment in the future hinges on a “recalibration of government policy”. The calls were echoed by Santos Ltd chief executive officer David Knox, who called for consistent carbon and fiscal policies.

Cheniere Energy, Inc. (NYSEMKT:LNG)

Temasek sells stake in US energy company Cheniere after shares jump (Straits Times)
Temasek Holdings has sold its stake in United States natural gas importer Cheniere Energy, Inc. (NYSEMKT:LNG) after the value of the shares surged, news agency Bloomberg reported on Thursday. According to a filing with the US Securities and Exchange Commission, Temasek sold 9.2 million shares of Cheniere directly or through its subsidiaries in the second quarter of this year, valuing the stake at US$257 million (S$325.3 million).

Labor rejects Chevron Gorgon claims (Business Spectator)
The federal government has dismissed claims made by Chevron Corporation (NYSE:CVX) that Australia’s high-cost economy is threatening the future of the country’s largest energy project, Gorgon, according to The Australian Financial Review. Earlier this week, Chevron Australia managing director Roy Krzywosinski said there is a two-year window of time to correct policies and resolve industrial relations issues before future investment in Australia’s liquefied natural gas (LNG) sector is jeopardised. However, federal Energy Minister Gary Gray said it is the energy companies themselves, rather than the government, who are failing to control escalating labour costs.

Stocks to Track – Samson Oil & Gas Limited (ADR) (NYSEMKT:SSN), Central Fund of Canada Limited (USA) (NYSEMKT:CEF), Merrill Lynch Semiconductors HOLDRS ETF (NYSEARCA:SMH), Cheniere Energy, Inc. (NYSEMKT:LNG) (SBWire)
Cheniere Energy, Inc. (NYSEMKT:LNG), after opening its shares at the price of $27.07, jumped up 0.11% to close at $27.10 for the day. The stock moved on a traded volume of 1.72 million shares, in comparison to 2.37 million shares of average trading volume. The 52-week range for the stock is $13.84 and $31.52 and during the previous trading session the stock touched its highest price at $27.43. Its introductory price for the day was $27.07. Cheniere Energy, Inc. (NYSEMKT:LNG) (Cheniere) is engaged in liquid natural gas LNG-related businesses. The Company owns and operates the Sabine Pass LNG terminal in Louisiana through its 59.5% ownership interest in and management agreements with Cheniere Energy Partners, L.P.

Chevron Sells Forties Crude; Libya’s NOC Issues Force Majeure (Bloomberg)
Chevron Corporation (NYSE:CVX) sold Forties F0902 for Sept. 7 to Sept. 9 loading at a premium of 60 cents a barrel, 55 cents less than its offer on Aug. 16, according to a Bloomberg survey of traders and brokers monitoring the Platts pricing window. It traded at premium of $1.25 on Aug. 14. Royal Dutch Shell Plc withdrew an offer for Forties loading Sept. 3 to Sept. 5 at 35 cents more than the cash cost of North Sea crudes for October, the survey showed. No bids or offers were made for Brent, Oseberg or Ekofisk crudes. Reported crude trading typically occurs during the Platts window, which ends at 4:30 p.m. London time.

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