Saturday, March 30, 2013
Cheniere Energy Overheats On Another Contract Signing
With a subsidiary of Cheniere Energy (LNG) announcing the signing of another long-term supply contract, the stock has become overheated with a RSI approaching 80. Investors need to be concerned that the newest deal won't lead to sales until 2018 at the earliest and could face a block by the federal government.
The company plans to be one of the leading domestic LNG exporters. It owns a 61% interest in Cheniere Energy Partners, L.P. (CQP), which owns the Sabine Pass facilities. Cheniere Energy Partners plans to construct six natural gas liquefaction trains that are in various stages of development to produce a total of 27 mmtpa.
Read the full article at Seeking Alpha.
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