Natural Gas: U.S. LNG Giant May Cut Production (LNG)

From Bloomberg via gCaptain:

U.S. LNG Behemoth Tests Slump in Sign it May Curb Production

One of the world’s biggest liquefied natural gas exporters is signaling it may throttle back production.

Cheniere Energy Inc. has tendered to buy six shipments for delivery to Europe later this year, a rare step for a company that’s fundamentally a seller of the fuel. The company could be testing the size of the current glut as it weighs output cuts, or even seeking cargoes for its customers that could be cheaper than producing and shipping its own from the U.S. Gulf Coast, according to a Bloomberg survey of traders.

Four of the six cargoes were awarded at a discount of about 20 to 30 cents to the European benchmark Dutch Title Transfer Facility, according to traders with knowledge of the information. The benchmark contract for May traded at about $2.24 per million British thermal units on Tuesday on ICE....MUCH MORE

Having been cut in half ($66 to $33) since January 17 the insiders have been nibbling at the stock:

3/9/2020	Neal A Shear	Director	Buy	3,750	$37.28	$139,800.00	23,860
3/5/2020	Donald F Robillard Jr	Director	Buy	2,000	$46.96	$93,920.00	30,121
3/5/2020	Jack A Fusco	CEO	Buy	21,000	$47.34	$994,140.00	703,814
2/27/2020	G Andrea Botta	Director	Buy	5,500	$45.67	$251,185.00	56,488

—MarketBeat