Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Cheniere Energy Partners (AMEX: CQP) jumped 10% temporarily after the company signed a big export deal.

So what: BG Group out of the U.K. signed a huge LNG export deal that will be sent through the LNG terminal at Sabine Pass. The contract is for 3.5 million tonnes per year of LNG, a deal that is worth about $8 billion.

Now what: Now you might be asking why Cheniere Energy (AMEX: LNG) is up 60% and Cheniere Energy Partners is up only 5% (at the time I'm writing) if Sabine Pass is owned by Cheniere Energy Partners? And I would say the gap shouldn't be as large as it is.

The complex relationship between Cheniere Energy and its subsidiaries muddles the stocks, along with the fact that payment and payouts from the completed project are unclear at this time. But no matter what, we're still talking about being four years away from any real benefit, a long time for a project that has been on the table for a while.

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