Beacon Equity Research: Cheniere (LNG) Shares Surge on Purchase and Sale Agreement
Shares of Cheniere Energy Inc., an energy company primarily engaged in Liquefied Natural Gas (LNG)-related businesses, are soaring in today’s trading after the company today announced that its subsidiary signed its first sale and purchase agreement. At last check, Cheniere Energy shares were trading 53.27% higher at $9.38, with volume up from daily average of 2.52 million to 14.44 million. Cheniere Energy’s subsidiary, Sabine Pass Liquefaction LLC, signed a sale and purchase agreement with BG Gulf Coast LNG LLC, a subsidiary of BG Group Plc, under which BF will purchase 3.5 million tones per annum of LNG. Sabine Pass has…