Cramer: Another Company to Export Nat Gas?

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Jim Cramer always recommended identifying bullish themes and then putting money to work behind those themes.

And one of his favorite themes for 2013 is domestic energy; specifically the discovery of vast resources in the United States and the resulting efforts to harness the finds. (Read More: Energy Boom - Jim Cramer ID's Stocks to Watch)

Cramer thinks the theme could generate profits not only this year, but for a long time to come.

Although he thinks domestic oil finds are important, Cramer is particularly keen on the prospects of natural gas.

It's a cleaner fuel than oil and coal and the price of nat gas makes it an affordable alternative. In fact it's so affordable that "Other countries are desperate to get their hands on our natural gas," Cramer said.

That sounds like the ingredients for an easy business opportunity, but there's a kink in the line. Nat gas is difficult to export.

"You need lots of expensive equipment to freeze it into a compact liquefied natural gas form, and for the moment, there's no way to ship it overseas."

To make matters all the more complicated, in order to build a liquefied natural gas or LNG export terminal, a company must receive approval from the Federal Energy Regulatory Commission, and to date only Cheniere Energy, has met all the rigorous criteria necessary to receive approval.

However that may be about to change; a second company may get in the game.

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"It very much caught my attention today when I learned that Dominion Resources one of the largest gas and electric utilities in the country, is moving ahead with its plan to build a two-way LNG import-export terminal in Maryland," said Cramer.

Getty Images

Natural gas pipelines

Cramer explained that The Sierra Club had sued to block the project, but a Maryland state judge recently ruled in favor of Dominion. That removes a major hurdle.

Going forward, Cramer believes all Dominion needs needs now is approval from the Federal Energy Regulatory Commission to start building.

"If everything goes right, Dominion's facility could be operational by 2017," Cramer said. If they're successful, Cramer expects the company and its stock to benefit significantly.

"And with a 3.8% yield, they pay you to wait," he said.

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