Cheniere Energy (LNG) Hits All-Time High on LNG Supply, More Orders from Thailand

Cheniere Energy Inc. (NYSE:LNG) is one of the 10 Stocks Heating Up Amid Market Panic.

Cheniere Energy soared to a new all-time high on Wednesday, as investors loaded portfolios amid the ongoing supply disruptions for LNG globally, while cheering announcements of higher long-term orders from the Kingdom of Thailand.

At intra-day trading, Cheniere Energy Inc. (NYSE:LNG) jumped to its highest price of $267.24 before paring gains to finish the session just up by 5.85 percent at $266.22 apiece.

Cheniere Energy Inc. (NYSE:LNG) mirrored higher natural gas prices during the day, which jumped 5.59 percent at $3.20/MMBtu, as the continued closure of the Strait of Hormuz—one of the most critical waterways for global trade—supported the spike in natural gas prices.

Oleksandr Kalinichenko / Shutterstock.com

For this month alone, natural gas prices have already gone up by 6.90 percent.

Further adding to the sentiment were news earlier in the week that Thailand is currently in talks with Cheniere Energy Inc. (NYSE:LNG) to expand and expedite LNG deliveries under an existing long-term contract as the Kingdom aims to secure sufficient supply to support its power sector.

Energy Minister Auttapol Rerkpiboon said that the Southeast Asian firm is ramping up its LNG orders from Cheniere Energy Inc. (NYSE:LNG) to 1.3 million tons from 1 million tons previously, with the first delivery targeted in the second quarter of the year.

The increased orders are expected to run for the next 15 years through 2041.

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