Cheniere, Sumitomo Talking LNG Deal

By Houston Business Journal

A Cheniere Energy Partners LP subsidiary has signed a memorandum of understanding with Sumitomo Corp. for about 1.5 million tonnes per annum of processing capacity at the Sabine Pass liquefied natural gas terminal in Louisiana.

Sabine Pass Liquefaction LLC, a unit of Houston-based Cheniere (NYSE-AMEX: CQP), and Japan-based Sumitomo have agreed to move ahead with negotiations on the agreement.

⿿With this MOU we have up to 7.7 mtpa of LNG processing capacity reserved,⿝ Charif Souki, Cheniere chairman and CEO, said in a statement Thursday. ⿿We have reached our targeted capacity for the first two trains.⿝

Copyright 2011 American City Business Journals

http://www.bizjournals.com/houston/news/2011/01/27/cheniere-sumitomo-talking-lng-deal.html?ana=thestreet

Copyright bizjournals.com 2010

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