Cheniere Energy’s proposed natural gas export plant to be voted on this week

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Regulators in the U.S. are set to vote this week on Cheniere Energy’s proposed liquefied natural gas (LNG) export plant in Louisiana. The Federal Energy Regulatory Commission (FERC) will decide whether to approve construction of the project at its April 19 meeting. If approved, it would be the first facility of its kind to be built in the U.S. in nearly 50 years.

The plant would be built on the same site as Cheniere’s existing LNG import plant, which some analysts believe makes FERC approval more likely. The decision is being closely watched by gas producers and consumers as they consider shipping the resource overseas where higher pricing can be obtained.

While other projects have been proposed to ship LNG abroad, Cheniere is currently the only firm with government approval to do so. Critics of the plan believe shipping gas abroad could push the crippled price of domestic natural gas higher, with the government estimating that natural gas exports could add 3-9% a year to prices over the next two decades.

Cheniere Energy (LNG : AMEX : US$16.86), Net Change: 1.16, % Change: 7.39%, Volume: 17,061,283

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