Dominion Reigns Supreme
Cheniere Energy (LNG) received approval from the Federal Energy Regulatory Commission to export natural gas, creating some excitement among its investors. The next step will be to finance and construct the Sabine Pass liquefaction facility operated by Cheniere Energy Partners (CQP), in which Cheniere Energy holds a 91% stake. Financing will come at a cost to shareholders, however, as Cheniere is seeking both debt and equity. When big equity comes in, owners get diluted.
The first two trains at Cheniere's liquefaction facility will cost approximately $5 billion. It looks like the company has arranged $4 billion in debt from a consortium of bankers; the rest is equity....699 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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