NEW YORK (TheStreet) -- Cheniere Energy
(LNG - Get Report) is on fire. In the last 24 hours, the company has announced two major contracts for its planned Corpus Christi liquefied natural gas, or LNG, export terminal. And more deals could be on their way.
Yesterday, Cheniere said that it signed a 20-year agreement with Australia's Woodside Petroleum
(WOPEY) to supply natural gas. Today, Cheniere said that it entered into another 20-year sale and purchase agreement with Indonesia's state-owned Pertamina to supply 760,000 tons per year of LNG.
So far, Cheniere has entered into agreements that cover more than 50% capacity of its second terminal at Corpus Christi. In a statement, Cheniere's CEO Charif Souki said that the company is eyeing additional deals in the coming months which will allow it to make "a final investment decision and begin construction by early 2015."
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Cheniere announced four deals for Corpus Christi in less than five weeks which has renewed the prospects of its second major LNG export terminal. As a result, the company's shares have risen by 66.4% year to date, currently hovering at $72, close to its all-time high levels
The company's shares could continue going higher as it gears up to open its flagship
Sabine Pass facility, the first of its kind of LNG export terminal in the U.S, in 2015. Additional deals and a final investment decision for Corpus Christi can act as a catalyst for an upside in the near term.
The company's latest deal with Pertamina is in addition to the 760,000 tons per annum agreement which Cheniere already has in place with the Jakarta-based company.
Meanwhile, Woodside has said that it will buy 850,000 tons of LNG per annum once the second train, or liquefaction plant, at Cheniere's Corpus Christi project becomes operational. The deliveries from the second train are expected to begin in 2019.
Cheniere owns the Sabine Pass LNG receiving terminal. Through its subsidiary Cheniere Energy Partners
, the company is developing two LNG export terminals at Sabine Pass in Louisiana and Corpus Christi in Texas to tap into the growing demand of LNG from Asia.
The company has planned to develop up to six LNG trains at Sabine Pass with combined capacity of 27 million tons per annum and three LNG trains at Corpus Christi with a total capacity of 13.5 million tons per annum.