Last $70.20 USD
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cheniere energy inc (LNG) Key Developments

Cheniere Energy, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Cheniere Energy, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company's total revenues were USD 67,645,000 compared to USD 67,177,000 a year ago. Loss from operations was USD 62,135,000 compared to USD 136,278,000 a year ago. Loss before income taxes and non-controlling interest was USD 280,626,000 compared to USD 162,882,000 a year ago. Net loss attributable to common stockholders was USD 201,928,000 or USD 0.90 per basic and diluted share compared to USD 154,764,000 or USD 0.71 per basic and diluted share a year ago. For the six months, the company's total revenues were USD 135,195,000 compared to USD 133,083,000 a year ago. Loss from operations was USD 109,747,000 compared to USD 203,732,000 a year ago. Loss before income taxes and non-controlling interest was USD 402,879,000 compared to USD 287,590,000 a year ago. Net loss attributable to common stockholders was USD 299,738,000 or USD 1.34 per basic and diluted share compared to USD 271,868,000 or USD 1.26 per basic and diluted share a year ago.

Cheniere Energy and Woodside Petroleum Sign Deal

Cheniere Energy and Woodside Petroleum have signed a 20-year pact under which Woodside will buy 850,000 tons/yr of LNG via Train 2 of Cheniere's LNG export facility being developed near Corpus Christi, Texas.

Cheniere Energy, Inc. Appoints Executive as Members of the Board

On June 12, 2014, the board of directors of Cheniere Energy, Inc. elected Neal A. Shear and Heather R. Zichal as members of the board. Mr. Shear and Ms. Zichal were appointed to the audit committee of the board. Upon their appointment to the board, Mr. Shear and Ms. Zichal each became entitled to compensation payable to non-employee directors elected to the Board.

Shareholders Files Class Action Complaint against Cheniere Energy, Inc over Certain Stock Awards

Stockholders of Cheniere Energy Inc. filed a class action complaint against the company and many of its top executives over certain stock awards. The complaint alleges that a Feb. 1, 2013, stockholder vote to nearly triple the 2011 incentive plan was improperly counted. The complaint claims there were about 77.01 million votes for increasing the plan, 57.9 million against and 36.25 million abstentions. It alleges that abstentions were not counted as part of the overall vote, and if they had been, the increase would not have passed. It claims abstentions should have been counted as 'no' votes per Cheniere's bylaws and the laws of Delaware, where Cheniere is incorporated. The complaint seeks to 'recover 25 million shares of Cheniere stock that were improperly awarded to Cheniere's employees, consultants and directors'. 'While these awards were excessive when made, this complaint does not allege that they were wasteful simply because they were extraordinary and, in large part, unprecedented', the suit states. Instead, this complaint alleges that most of these awards should never have been granted because the majority of Cheniere's stockholders did not approve the increases to the 2011 Plan share reserve that supposedly support them. In light of the complaint, Cheniere has postponed its annual meeting of stockholders from June 12, 2014 to Sept. 11, 2014. The complaint had requested to expedite proceedings before the June 12, 2014 meeting, Cheniere reported.

Cheniere Energy, Inc. Signs Another Spanish Customer for LNG Project

Cheniere Energy Inc. announced that it signed another Spanish customer for its Corpus Christi liquefied natural gas export facility. Iberdrola SA has agreed to buy about 0.8 million tones per annum of LNG from Corpus Christi Liquefaction LLC. Once the Corpus Christi Liquefaction Project's Train 1 starts operations, Iberdrola will purchase about 0.4 million tones per annum, increasing to 0.8 mtpa once Train 2 starts. Train 2 deliveries are expected in 2019. The terms of the sale and purchase agreement will extend for 20 years beyond the date of first delivery of Train 2, with an extension option of up to 10 years.

 

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Company Last Change
Cheniere Energy Partners LP $31.86 USD +0.49
Petronas Gas Bhd 23.10 MYR -0.38
Santos Ltd A$14.27 AUD -0.29
Sempra Energy $99.76 USD +0.05
Woodside Petroleum Ltd A$41.92 AUD -0.60
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