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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (31013)	5/20/2008 5:56:46 PM
From: Bridge Player	Read Replies (1) \| Respond to of 78774

Apparently, Cheniere has contracts with Chevron and Total, but they are not scheduled to kick in to generate income until next year. reuters.com ------------------------------------------------------ "This year is difficult," Charif Souki said. "But as you get further into the year we get more and more confident, and next year there'll be a large number of cargoes coming to this facility." The event followed the recently announced layoffs of 180 of the company's 367 employees. "It's not a happy occasion," Souki said of job cuts, but he added that outsourcing gas marketing and completing construction made layoffs necessary. Souki said, however, that the company has financial staying power at least into 2009, when contracts with Chevron (CVX.N: Quote, Profile, Research) and Total (TOTF.PA: Quote, Profile, Research) to ship gas through the terminal take effect. "Raising funds is not an issue for us," Souki said. As of December 31,2007, Souki said the company had $700 million in accounts dedicated to finishing construction and $300 million in unrestricted cash.