Cheniere Energy forms LNG trading affiliate

By OGJ editors
HOUSTON, Aug. 15 -- Cheniere Energy Inc., Houston, announced the establishment of J&S Cheniere SA, a Switzerland-based company formed for buying, selling, and trading LNG.

Cheniere holds a minority interest in the venture. Its partner is J&S Services & Investment, a private corporation engaged in petroleum and commodity trading.

The new venture signed a 3-year charter with Malaysia International Shipping Corp. Sdn Bhd (MISC) to use the Tenaga Empat, a 130,000 cu m carrier. The vessel will be delivered in the first quarter of 2004 and will primarily import LNG to the US.

Malaysai's state oil and gas company Petronas owns 65% of MISC.

Cheniere Chairman and CEO Charif Souki said. "We intend to operate LNG receiving facilities in the US beginning in 2007. It is important for us to be exposed as soon as possible to commercial operations in this industry, in preparation for our terminal activities."

A 30% limited partner in Freeport LNG Development LP, Cheniere is in the process of developing four LNG terminals in Texas and Louisiana (OGJ Online, Dec. 6, 2001).

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