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Cheniere Wins Approval for Biggest U.S. Gas-Export Terminal

Cheniere Energy Inc. won federal approval to build the largest U.S. natural-gas export terminal as drillers who extract the fuel from shale formations struggle to find domestic buyers to absorb a glut.

The Federal Energy Regulatory Commission approved an order yesterday that will let Cheniere build a $10 billion plant adjacent to its Sabine Pass gas-import terminal in Cameron Parish, Louisiana, about 170 miles (274 kilometers) west of Baton Rouge. The Houston-based company said its 91 percent owned Cheniere Energy Partners LP hired eight financial institutions to borrow $4 billion to help fund the construction.