LNG Updates: Cheniere Energy, Inc. (LNG) & Chevron Corporation (CVX)’s Lawsuit, Clean Energy Fuels Corp (CLNE)’s Proposal

Editor’s Note: Cheniere Energy, Inc. (NYSEMKT:LNG), Chevron Corporation (NYSE:CVX), Clean Energy Fuels Corp (NASDAQ:CLNE)

Chevron Won’t Seek Money From Ecuadorians in U.S. Lawsuit (Bloomberg)
Chevron Corporation (NYSE:CVX) said it won’t seek money damages against two Ecuadorians it sued in a New York racketeering case claiming the pair committed fraud to win a $19 billion verdict in a pollution case in their country. The oil company also asked that the trial, set to begin next month in federal court in Manhattan, be held in two parts, one before a jury and a second before a judge.

Cheniere Energy, Inc. (NYSEAMEX:LNG)

Cheniere Energy, Inc. (LNG) Enters Overbought Territory (Zacks)
Cheniere Energy, Inc. (NYSEMKT:LNG) has moved higher as of late, but there could definitely be trouble on the horizon for this company. That is because LNG is now in overbought territory with an RSI value of 70.32. Furthermore, estimates for the Cheniere Energy have been coming down, pushing it to a Zacks Rank #4 (Sell). This suggests that investors may better off exiting this stock before it falls back to Earth.

Clean Energy Fuels Corp : Clean Energy Announces Proposed Private Placement of Convertible Senior Notes (4-traders)
Clean Energy Fuels Corp (NASDAQ:CLNE) (“Clean Energy” or the “Company”) today announced that it intends to offer, subject to market conditions and other factors, $200 million aggregate principal amount of convertible senior notes due 2018 (the “notes”) in a private placement. Clean Energy also intends to grant the initial purchasers of the notes a 30-day option to purchase up to $30 million aggregate principal amount of additional notes. The Company expects to use the net proceeds of the offering to fund capital expenditures and for general corporate purposes.

Chevron gas boss foresees more liquid LNG spot market (Platts)
Although the global LNG business was not originally set up for spot trading, a more liquid spot market will eventually evolve, Chevron Corporation (NYSE:CVX) ’s global gas boss predicted Tuesday. “Will we get there? Yes… but it will take time for that liquidity to become reality,” said Joe Geagea, president of Chevron’s global gas and midstream business.

Clean Energy Fuels Breaks Above 200-Day Moving Average – Bullish for CLNE (Forbes)
In trading on Monday, shares of Clean Energy Fuels Corp (NASDAQ:CLNE) crossed above their 200 day moving average of $13.06, changing hands as high as $13.07 per share. Clean Energy Fuels Corp shares are currently trading up about 1.6% on the day.

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