ADVFN - Advanced Financial Network.
HOME» NYSE » W » WBK Stock Price » WBK Stock News

Westpac Banking Share News

 Westpac Banking Cp Stock Price
WBK Stock Price
 Westpac Banking Cp Stock Chart
WBK Stock Chart
 Westpac Banking Cp Stock News
WBK Stock News
 Westpac Banking Cp Company Information
WBK Company Information
 Westpac Banking Cp Stock Trades
WBK Stock Trades

Cheniere Energy To Sell 30% Stake In Freeport LNG To Zachry

NEW YORK -(Dow Jones)- Cheniere Energy, Inc. (LNG) said Thursday that the company has agreed to sell its 30% interest in Freeport LNG Development LP to Zachry American Infrastructure LLC and Hastings Fund Management USA Inc. for $104 million. Freeport LNG Development operates an LNG terminal off the Texas Gulf Coast. Houston-based Cheniere, a developer and owner of liquefied natural-gas terminals, plans to use the proceeds of the sale of its stake in the company to pay down part of a $400 million loan. ConocoPhillips (COP) and Colorado oilman Michael Smith have stakes in Freeport LNG Development's general partner, the entity that manages the company and receives a percentage of its profits. Zachry American Infrastructure is an independent member of the Zachry group of construction, engineering and infrastructure companies based in San Antonio, Texas. Hastings Fund Management USA is the North American arm of Hastings Fund Management, an Australian infrastructure fund manager and subsidiary of Westpac Banking Corp (WBC.AU). Cheniere's plans to develop the Freeport LNG terminal were hatched in 2001, when declining U.S. gas supplies were expected to drive imports of the fuel from overseas. But improved technology has led to a boom in gas production from onshore fields, and Cheniere's terminals have seen few LNG cargoes, leaving the company with meager cash flows. Cheniere also owns the Sabine Pass LNG terminal in Louisiana. Gas marketers continue to view the U.S. as a "market of last resort" for cargoes that aren't needed in Europe and Asia, however. A unit of Russian energy giant Gazprom announced Thursday that it had signed an agreement with a subsidiary of San Diego-based Sempra Energy (SE) for the right to deliver LNG cargoes to the Cameron LNG terminal in Louisiana. In April, Cheniere announced a pact with J.P. Morgan Chase & Co. (JPM) that will give J.P. Morgan's clients access to the Sabine Pass terminal. The two firms will also work together to find other clients who want to ship through the terminal. Cheniere expects the Freeport deal to close in the second quarter. Shares of Cheniere were up 24 cents, or 4.94%, to trade at $5.10 after hours. -By Christine Buurma, Dow Jones Newswires; 212-416-2143; [email protected] Order free Annual Report for ConocoPhillips Visit or call 1-888-301-0513

Stock News for Westpac Banking (WBK)
12/06/201623:40:00Asia Stocks Higher, Australia Bucks Negative Growth Report
11/29/201602:40:00Apple Wins Battle With Banks Over Mobile Payments
10/26/201601:30:00Asian Shares Broadly Down, Tracking U.S. Weakness
10/21/201602:40:00Australia Stocks Decline, Snapping Three-Day Run Higher
10/03/201623:50:00Asian Shares Rise, Led by Tokyo
09/29/201603:08:00Oil-Price Jump Helps Drive Australia Stocks to Four-Week High
09/28/201603:12:00Australia Stocks Edge Slightly Higher; AGL Energy Stands Out
09/14/201603:14:00Australia Stocks Gain After Four-Session Run Lower
09/06/201605:29:00ASIA MARKETS: Asian Markets Rise, But Aussie Stocks Buck Trend...
09/06/201603:26:00ASIA MARKETS: Asian Markets Rise, But Aussie Stocks Buck Trend...
09/06/201602:10:00Asian Shares Gain, But Australia Bucks Trend -- Update
08/19/201603:04:00Australia Regulator to Take More Time on Mobile Wallet Services...
08/18/201607:10:00Lawsuit Alleges Banks Manipulated Australian Rate
08/17/201604:50:00Global Dairy Prices Rise as Herds Are Culled
07/14/201603:48:00Australia Stocks Rise for Sixth Straight Day, Near 2016 High
06/28/201603:39:00Australia Stocks Remain Jittery
06/26/201620:46:00BT Investment Expects No Immediate Change After UK Referendum
06/06/201603:45:00Australia Stocks Lifted by Miners After U.S. Dollar Drops
05/27/201603:41:00Australia Shares End Higher, Marking Seventh Week of Gains
05/02/201612:08:00Finance Watch

Westpac Banking and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations