Cheniere Up 7%; DOE To Change Procedure On LNG Export Projects

Cheniere Energy Inc. LNG spiked more than seven percent after federal regulators said the company will stop issuing conditional commitments regarding natural gas exports to non-Free Trade countries prior to environmental reviews. Cheniere operates a liquid natural gas pipeline and terminal in Texas and is developing several similar projects. The regulatory change will enable regulators to "focus on the more commercially advanced projects," according to Christopher Smith, an assistant secretary at the Department of Energy. The agency will also begin an economic study and will release two environmental reports concerning unconventional natural gas production and greenhouse gas impacts of U.S. LNG exports. A Cheniere spokesman said a statement was upcoming but not immediately available. Cheniere closed at $63.54.