Departed CEO Charis Souki disagreed with the Cheniere Energy board over the company’s path, telling The New York Times that despite present low natural gas prices, “you don’t change the strategy of the company based on a temporary thing.”
HOUSTON (AP) — Two months after activist investor Carl Icahn boosted his stake in Cheniere Energy for the second time in two weeks, the company announced the departure of its co-founder and chief executive.
The company was the first to be granted permission by the U.S. to export gas and has built massive liquid natural gas export terminals to do so. Those exports are expected to begin any day now.
HARTFORD, Conn. (AP) — Kinder Morgan Inc., the energy giant proposing gas pipelines in Northeast that have drawn opposition, is weathering another challenge — financial woes linked to falling energy prices and a steep drop in its stock price forcing it to find new sources of capital.
The Houston-based company announced Tuesday a 75 percent cut in its quarterly dividend to 12.5 cents per share to conserve cash for financing portions of its expansion projects. In addition to a $3.3 billion pipeline through western Massachusetts and southern New Hampshire sought by a Kinder Morgan subsidiary, it's also proposing a Northeast pipeline network in Connecticut, Massachusetts, New Hampshire, New York and Pennsylvania.
ASHGABAT, Turkmenistan (AP) — Leaders from Afghanistan, India and Pakistan have joined the president of Turkmenistan in breaking ground on a new pipeline intended to deliver natural gas from the energy-rich former Soviet republic to their three countries.
Turkmenistan is believed to have the world's fourth-largest gas reserves, but currently exports mainly to China.
BILLINGS, Mont. (AP) — The U.S. Environmental Protection Agency waded into a long-running skirmish between two states by approving water quality rules meant to protect southeastern Montana cropland from wastewater produced during natural gas drilling in neighboring Wyoming.
Wyoming officials and oil and gas companies have assailed the rules as a threat to energy production. The regulations limit how much salty water — a byproduct of drilling — can enter waterways in the Tongue and Powder River basins along the Montana-Wyoming border.
Pioneer Natural Resources is the second U.S. firm, after Enterprise Products, to begin exploring how to take advantage of the end of the U.S. oil export ban and could begin shipments by the middle of next year, The Hill reports.
Two competing initiatives designed to give Florida residents a constitutional right to rooftop solar energy are running out of time without enough signatures yet to make next November's ballot, the Naples Daily News reports.
SolarCity CEO Lyndon Rive joined Sen. Charles E. Schumer in Buffalo this week to call the five-year extension of a federal tax subsidy "super important" to the continued growth of the solar power industry, The Buffalo News reports.
Continued concerns about oversupply forced oil prices downward early Wednesday, nearing an 11-year low already reached once this week. London Brent fell 31 cents to $37.05 a barrel while U.S. crude remained unchanged at $37.50, Reuters reports.
A group of researchers at MIT, the University of California-Berkeley, and the University of Colorado have developed a new computer microchip that uses optical technology and creates the potential to make future computer data centers more energy efficient, the journal Science reports.
A Japanese court on Thursday rejected safety concerns and approved letting Kansai Electric Power, the country's second biggest utility, restart four nuclear reactors shuttered since the 2011 Fukushima disaster, Reuters reports.