JPMorgan signs up for LNG trade

Blue skies over Louisania Gulf coast: home to Cheniere's Sabine Pass LNG import terminal

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By News Wires

 01 April 2010 01:55 GMT

JPMorgan Chase & Co has unveiled its entry into the LNG market through a deal signed with US liquefied natural gas importer Cheniere Energy .

Under the two-year deal, JP Morgan and Cheniere will jointly look for buying opportunities in the global LNG market, combining Cheniere's existing LNG assets and experience with JP Morgan's greater buying power.

JP Morgan will now have import rights for up to 2 billion cubic feet per day of gas at the Cheniere's Sabine Pass import terminal in Louisiana.

The aim is to afford Cheniere the opportunity to buy more cargoes of LNG and give JP Morgan access to an asset like Sabine Pass which gives the bank a firm foothold in the…

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