Energy Business Recap: Cheniere’s Prospects With Japan, GE’s Deal With Petrobras
Entergy Corporation (NYSE:ETR) expects the total amount of restoration costs from Hurricane Isaac to be between $400 million and $500 million. Additionally, the firm will see lower revenue in affected regions because of to temporary power outages.
Don’t Miss: GE Encroaches on Siemens Territory.
Shares of Cheniere Energy, Inc. (AMEX:LNG) spiked then fell back as a Reuters report had it that Tokyo Electric is in advanced discussions to import supplies of liquefied natural gas from North America, while Japan pushes to reduce its reliance on nuclear power. Most recently, plentiful supplies have pushed gas prices down in North American to slightly above $3 per mmBtu, while spot prices for Asian gas are around $13 per mmBtu.
General Electric Company (NYSE:GE) reaches an agreement to provide 380 wellheads to Petrobras (NYSE:PBR) for an approximate amount of $1.14 billion. Further, it reports that its subsidiary Wayne has won a contract to supply IndianOil Corporation with 2,700 Wayne Global Vista fuel dispensers. IndianOIl is India’s flagship national oil company.
The producer of custom-engineered systems PMFG, Inc.’s (NASDAQ:PMFG) shares popped Tuesday on the news that the company has won a United States Navy contract to supply air inlet moisture separation and filtration systems to the Arleigh Burke class of destroyers. The company says that the five-year contract could bring a potential value of $13.7 million, assuming that options are exercised.
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