Cheniere advances on appointment of new director

Shares of Cheniere Energy Partners LP (AMEX:CQP) rose 8% this morning after the company reported it had elected James Bennett, a managing director at a private equity firm, to its board of directors.

In a filing with the Securities and Exchange Commission, Cheniere said the appointment to the Houston liquefied natural firm’s general partnership became effective Aug. 15.

Bennett is currently a managing director with New York-based GSO Capital Partners LP, which just signed a $250 million senior secured convertible loan agreement with Cheniere Common Units Holding LLC, a subsidiary of Cheniere Energy Inc.

In April, Cheniere’s then-president and COO, Stan Horton, resigned his position after three years in the role. That month, the firm also cut more than half of its work force, citing a strategic shift related to the marketing of liquefied natural gas.

Cheniere Energy Partners LP’s stock is trading at $9 this morning, up $0.66 from Friday’s close. Shares have ranged as low as $6.66 and as high as $19.50 in the past 52 weeks.

For detailed price information and news stories on Cheniere Energy, click CQP.

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