Cheniere LNG Terminals In Question
Posted by zmann on October 4, 2006
Saw an article about Cheniere last night reflecting the very real possibility of delays for 2 of their 4 planned LNG terminals and wanted to shoot myself for forgetting about those guys. Don’t know that we’ve missed all of the move on it and make take longer puts on a bounce given the weak economics they now gace and growing concern over their current and future plans.
BTW, if you look at gas the last couple of days the 24 month strip continues to slide despite the front month’s resilience. We’re 73 Bcf off all time high storage and while I don’t think it’ll happen tomorrow, we’re obviously headed for a gas storage peak of at least 8% over record levels by Oct 31. Those are big headlines. Even the guys who’ve hedged at lot are now facing the decision of engaging further hedges at significantly lower prices.