We are pounding the table as a BUY right now on Cheniere Energy - LNG. E&Y and S&P stand behind Cheniere too despite a recent drop in their stock which we feel is completely unwarranted. LNG is a very STRONG BUY.
For Immediate Release
March 10, 2011
Contact: media@landrieu.senate.gov
Landrieu Pushes for Key Federal Approval of Gas Export Facility in Southwest Louisiana
Washington, D.C. – United States Senator Mary L. Landrieu, D-La., today vowed to intensify her push for U.S. Department of Energy approval of a liquefied natural gas (LNG) export facility on the Sabine Pass in Cameron Parish.
Cheniere Energy’s proposal to transform its existing LNG receiving terminal into a facility that can both import and export LNG would bring substantial economic benefits to southwest Louisiana, including:
· Establishment of the world’s only bi-directional LNG processing facility on the Sabine Pass;
· Creation or sustainment of 30,000-50,000 indirect production jobs;
· Creation of 3,000 peak construction jobs;
· Creation of 100-150 new direct long-term, skilled technical jobs.
After writing numerous letters to the Department of Energy and the Federal Energy Regulatory Commission as well as the President, urging them to approve the project, Sen. Landrieu is now calling on the administration for immediate affirmative action.
Landrieu said: “The Cheniere project is of crucial importance to southwest Louisiana, which has never fully recovered from Hurricanes Rita and Ike. I am urging (Energy) Secretary Chu and (Federal Energy Regulatory Commission) Chairman Wellinghoff to act without further delay to approve this important project, which will not only put our people back to work, but also help reduce global emissions by giving other countries greater access to a cleaner source of energy and, through exports, improve the U.S. trade balance by as much as $5 to $7billion annually. There is no reason not to move forward right away with final approval.”
