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 LP Holdings LLC (NYSEMKT:CQH) jumped as much as 12% today after its parent Cheniere Energy (NYSEMKT:LNG) announced a new contract.

So what: Cheniere signed a 20-year LNG sale and purchase agreement with Spanish utility Iberdrola to supply LNG. The company will purchase 0.4 million tonnes per year when train 1 is completed and increase to 0.8 million tonnes when train 2 is finished .  

Now what: This is another solid long-term agreement and estimates put its value at $5.6 billion over the life of the deal. Train 2 isn't expected to be completed until 2019 though so deals like this won't supply any revenue for years. This is no doubt an incremental positive but without consistent cash flows yet this is a stock that's just too risky for me today.

Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.