Icahnquest: Carl Icahn Lands Two Board Seats At Cheniere Energy Inc. (LNG)

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Earlier this month, Icahn expressed his belief that the shares of the LNG company were undervalued and stated his intention to have discussion with the company’s management and Board of Directors about its operations, capital expenditures, financing, and executive compensation. It is quite clear that the reputable activist investor and his team have identified opportunities for unlocking shareholder value and he has made the first step towards exploiting those opportunities with the appointment of Jonathan Christodoro and Samuel Merksamer to Cheniere’s Board. Jonathan Christodoro has acted as a Managing Director of Icahn Capital LP since July 2012 and currently serves as a director on the boards of several companies. Meanwhile, Samuel Merksamer has served as a Managing Director of Carl Icahn’s firm since May 2008. Icahn believes and hopes that the newly-appointed directors and his firm’s contribution will assist Cheniere in enhancing shareholder value. It is highly likely that Icahn’s team will be able to make some positive changes at the company, however, the overall gloomy trend in the energy sector should not be overlooked.

It is believed that natural gas, with its low carbon dioxide emissions and abundant supply, will represent an important energy source until the globe can fully depend on renewable energy sources. And Cheniere is well-positioned to profit from this trend, as the energy company is set to become one of the nation’s first exporters of gas from the U.S. shale formations. Just recently, Cheniere Marketing International LLP, a wholly-owned subsidiary of Cheniere Energy, announced sales arrangements with Électricité de France S.A. for the delivery of LNG cargo on an ex-ship basis from its Sabine Pass LNG terminal. These arrangements indicated that Cheniere will deliver up to 26 cargoes or up to 100 million MMBtus to the Dunkerque LNG terminal in France through 2018. This is just one of many deals Cheniere has entered into lately, which clearly suggests that the company is on the right track to delivering stronger financial performance in the upcoming years.

Disclosure: None

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