USA: SAC Capital Buys 5.7 Percent Stake in Cheniere
SAC Capital Advisors, a hedge fund run by US investor Steven Cohen, purchased a 5.7 percent stake in Cheniere Energy, according to a filing with SEC.
Cheniere is a Houston-based energy company primarily engaged in LNG related businesses, and owns and operates the Sabine Pass LNG terminal and Creole Trail pipeline in Louisiana.
The company has initiated a project to add liquefaction services that would transform the Sabine Pass LNG terminal into a bi-directional facility capable of exporting LNG.
Cheniere recently also announced that it is developing a LNG export terminal at one of the company’s existing sites that was previously permitted for a regasification terminal, located in Corpus Christi, Texas.
LNG World News Staff, December 30, 2011; Image: Cheniere