Andrew Hill Investment Advisors, Inc. on Cheniere Energy, Inc.

Cheniere is the largest U.S. producer and exporter of liquefied natural gas and links abundant domestic gas supply with international demand. The fund expects the company to benefit from Europe's ongoing need for reliable energy imports and structural gas shortages. Its long-term contracts make the business resemble an energy toll road, producing stable cash flows without requiring heavy commodity-price exposure. Expensive, regulated and slow-to-build export terminals also create a difficult-to-replicate competitive moat.