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Good News for Investing in Natural Gas: U.S. Government Approves Sabine Pass Plant

That breeze gusting through the streets this morning isn't the sign of a coming storm.

That's a collective sigh of relief coming from those investing in natural gas companies after a torrid first quarter for the sector. Natural gas prices have collapsed below $2 per 1,000 cubic feet for the first time in a decade.

And that's not even adjusted for inflation...

But on Tuesday came the first positive sign in months.

The U.S. government approved the development of the Sabine Pass plant, the first natural gas export facility in the lower 48 states.

CNN Money reports:

"The Federal Energy Regulatory Commission [FERC] voted in favor of Texas-based Cheniere Energy's plan to build a giant natural gas liquefaction and export terminal at Sabine Pass, which straddles the Texas-Louisiana boarder just north of the Gulf of Mexico.

Although environmentalists have threatened to sue to stop the 500-acre, $10 billion project, Cheniere says it plans to start building before July."

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