Cheniere Energy, Inc. (AMEX:LNG) announced its plans to build the first liquefied natural gas export plant in the United States for 40 years. Cheniere intends to make a market revolution and it has already received initial interest from potential buyers and producers interested in committing supply to the project.
After the news was reported, LNG's stock flew up 12.69% at 3.02 on the high volume of over 1 million shares. It is more than the company's average traded volume and it still keeps a high value.
During the last weeks, there was a resistance level at 3.0, while currently LNG trades at 3.34 and the maket cap points 191.26M.
Cheniere Energy, Inc. is developing a platform of three, 100%-owned, onshore liquefied natural gas, or LNG, receiving terminals along the U.S. Gulf Coast. According to the records, company's revenue for 2009 is higher than the year before, but its net income is 2 times lower. However, the LNG's quarterly results for 2010 look better.
Although the results were consolidated for financial reporting, Cheniere, Sabine Pass LNG, L.P.