The Freeport LNG terminal recently received a conditional approval for the export of natural gas from the Department of Energy (DoE) as the sector gears up for some significant development. The glut of natural gas in the U.S. following the massive shale gas boom has made exports of the commodity more lucrative. Markets were already expecting positive developments, particularly after President Obama indicated his support for exports of natural gas when he said earlier that the U.S. could become a net seller of LNG in the next seven years.
So far, Cheniere Energy's (NYSEMKT:LNG) Sabine Pass terminal has been the only other facility to have received a conditional approval for exports of up to 2.2 billion cubic feet/day about two years ago.
The Freeport LNG terminal is partly owned by the energy firm ConocoPhillips (NYSE:COP) and the chemical giant Dow Chemical (NYSE:DOW). The approval still requires .. Read More