JANUARY 23, 2012.
U.S. Gas Glut Favors Would-Be Exporter
BUSINESS
JANUARY 23, 2012.U.S. Gas Glut Favors Would-Be Exporter .
BEN LEFEBVRE SABINE PASS, La.—An unexpected renaissance in U.S. energy production derailed Cheniere Energy Inc.'s debt-fueled ambitions to become a big importer of liquefied natural gas. Now, if it can stay ahead of its creditors, the money-losing company is aiming instead to be the nation's first large LNG exporter.
Cheniere, which has clung to life in part with equity offerings and bank loans, now has contracts to supply 10.5 billion cubic feet of gas a year, starting in 2016, from a planned export terminal here and a second such facility in Corpus Christi, Texas.
Investors and big oil companies originally derided the ...
BEN LEFEBVRE
link-
http://online.wsj.com/article/SB10001424052970203750404577171003654479154.html?mod=business_newsreel