Shares of Cheniere Energy (AMEX: LNG) fell 10% yesterday after the company announced it was increasing its sale of shares in a public offering.

Cheniere's public stock offering of 8.7 million shares, announced earlier this week, was increased to 11 million shares; the cash will be used for "general corporate purposes," the catchall for stock offerings. The bigger news, which sent shares lower, was that shares would be sold at $10.35 each, an 11.6% discount from the previous close and a slight discount from where shares are currently trading. But never fear, there's still good news for Cheniere.

We didn't get a reason for the increase in shares, but the market's positive reaction to the offering Tuesday may have given the company the confidence to increase the offering. Considering that shares haven't fallen to the offer price, the market seems to still hold Cheniere Energy in high regard after it popped last month on news the company could export LNG to all importing nations.

An export expansion has been planned at Sabine Pass, which could be the company's bread and butter when it opens. The Sabine Pass operation is wholly owned by Cheniere Partners (AMEX: CQP), a subsidiary of Cheniere Energy, but it isn't expected to open until 2015.

With natural gas prices relatively low, Cheniere is betting increasing supply in the U.S. will turn the country into a major exporter of liquefied natural gas (LNG). It already has a contract with Japanese firm Sumitomo to buy LNG exports from Sabine Pass. LNG has become a hot fuel recently, and as companies like Cheniere and Clean Energy Fuels (Nasdaq: CLNE) build pipeline and fueling infrastructure around the country, it should only get stronger.

Interested in more info on Cheniere Energy? Add it to your watchlist.

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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