Two Asian companies have agreed to invest $467.9 million in Houston-based Cheniere Energy Inc., which plans to build a multibillion-dollar natural gas liquefaction facility in Cameron Parish.
Temasek, a state-owned Singapore investment firm, said it had $193 billion in its portfolio as of March 31, 2011. RRJ Capitalis is a $2.3 billion private equity firm with offices in Hong Kong and Singapore. Together the companies will control 31 million shares of Cheniere.
Cheniere plans to use the money to help finance the proposed Sabine Pass LNG facility.
Temasek and RRJ have been investing heavily in energy-related companies. In April, the companies acquired $600 million of a $1.3 billion offering for Kunlun Energy Co. Ltd, a unit of PetroChina Co. Ltd. Kunlun is involved in the natural gas business and plans to use the money for potential acquisitions and to develop its LNG business.
In March 2011, a consortium led by Temasek and RRJ paid $3.5 billion to acquire 70 percent of Frac Tech Holdings LLC, a Texas-based hydraulic fracturing firm.
Cheniere said it, Temasek and RRJ are discussing a partnership to develop LNG sales, marketing and trading relationships and opportunities in Asian markets. The partnership would market LNG from the proposed Sabine Pass and Corpus Christi LNG liquefaction facilities.
First-time claims for unemployment benefits increased by more than 7 percent for the week ended April 27 in Louisiana to 3,303 initial claims from the previous week’s 3,076 claims.
The Louisiana Workforce Commission said the four-week moving average of initial claims increased to 3,282 from the previous week’s average of 3,192.
Those still looking for work last week filed for an additional 32,312 weeks of payments, down from the previous week’s 33,033.
The department said it was the lowest level of continued claims since Dec. 27, 2008, with 32,007.
For the comparable week a year ago, the state received claims for an additional 43,883 benefit weeks.
BOGALUSA — International Paper Co. is spending $44 million on new equipment and technology and other upgrades at its Bogalusa mill, Louisiana Gov. Bobby Jindal’s office said Friday.
The mill employs 400 people.
International Paper became the century-old mill’s fifth owner when the company acquired Temple-Inland Inc. in February. International Paper is based in Memphis, Tenn., and operates 10 facilities in Louisiana.
The state offered a $2.2 million tax credit to assist with the upgrades, which are scheduled to be completed in mid-2013.
Sam’s Club has opened a temporary hiring center at 674 S. Range Ave. in Denham Springs to hire about 200 workers for a new store that’s slated to open this summer near Bass Pro in Denham.
The hiring center is open 7 a.m.–6 p.m. Monday-Friday. Applicants can also apply online at http://www.samsclub.com/Careers.
Manager Jeff Simon said the store will be hiring full- and part-time workers. Most workers will start their jobs in mid-May.
From staff and Associated Press reports
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