What: Shares of liquefied natural gas company Cheniere Energy
So what: Endesa in Spain and Enel Trade in Italy have signed tentative agreements to acquire up as much as 1.5 million metric tons per year of LNG from the planned Sabine Pass LNG terminal. The deal hinges on Cheniere getting approval to export from the terminal.
Now what: The company anticipates that it could start exporting by 2015, so these deals aren’t even close to being sales yet. There's a long way to go before the Sabine Pass LNG terminal is up and running, but with 9.8 million metric tones per year of agreements, the company is headed in the right direction. I'm cautiously optimistic on today’s news, but with revenue still years away, I’ll wait for a better day to buy shares.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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