The Blackstone Group will gain $5 billion from the sale of the stake in LNG producer Cheniere Energy’s limited partnership, according to a Bloomberg report.
Front-month gas futures rose 7.3 cents, or 3.4%, to settle at $2.238 per million British thermal units, their highest close since Dec. 26.
Gas stockpiles in the US and Europe are expected to reach all-time highs by the end of the injection season.
Tellurian’s Meg Gentle anticipates rising demand coinciding with slower production growth.
India's top gas importer, Petronet LNG, renewed a deal to give the parties more time to finalize an investment in Tellurian's Driftwood export project in Louisiana.
Despite better news, the market is still severely oversupplied.
Total's massive LNG project in Mozambique includes the development of the Golfinho and Atum natural gas fields in the Offshore Area 1 concession, and the construction of a two-train liquefaction plant.
Utilization has collapsed from as high as 90% to 32%.
Demand is set to decrease for two straight years for the first time since 2006.