Cheniere CEO on Nat Gas Export Plant
In recognition of Earth Week, Jim Cramer on Tuesday reminded viewers that switching from petroleum to natural gas would help save the environment and fight climate change because he thinks it’s a cleaner, cheaper and more “domestically abundant” fuel source.
In what he called a “great tragedy,” though, the U.S. market has not embraced nat gas an alternative fuel source. The rest of the world, however, is “desperate to get their hands on it.” In turn, there is a lot of money to be made by any company that can figure out a way to export nat gas to foreign markets.
On Monday, U.S. regulators approved the country's first liquefied natural gas export plant in nearly 50 years, which will open up cheap and abundant American supplies to importers across the globe. The Federal Energy Regulatory Commission approval paves the way for construction to begin at Cheniere Energy's LNG plant at Sabine Pass, Louisiana, which will chill natural gas to a liquid for shipping overseas by as early as 2015. For now, Cheniere looks likely to be the only project to get the go ahead.
To learn more about the project and the company’s prospects in general, Cramer welcomed CEO Charif Souki onto Tuesday’s “Mad Money.” Check out the video to see the full interview.
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