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Market Chatter: Morgan Stanley Files Plans to Build Natural Gas Export Plant in Freeport, Texas

MIDNIGHT TRADER 8:33 AM ET 08/29/14

Symbol Last Price Change
MS 34.06 0 (0%)
GS 177.65 0 (0%)
QUOTES AS OF 04:00:54 PM ET 08/28/2014

08:33 AM EDT, 08/29/2014 (MT Newswires) -- Morgan Stanley(MS) filed plans with the Department of Energy to build and run a compressed natural gas export facility near Freeport, Texas, which would be one of the first plants of its kind in the U.S., Reuters said in an exclusive report Friday.

The facility will be equipped to ship 60 billion cubic feet of compressed natural gas (CNG) a year.

Although the proposed facility is relatively small compared to other liquefied natural gas projects, the plan shows how Morgan Stanley(MS) is intent to exploit its status as one of the only two Wall Street banks allowed to own and run infrastructure for the production and processing of raw materials, Reuters noted. The other bank with this status is Goldman Sachs(GS) .

In Friday's pre-market session, MS shares were flat at $34.06. The stock has a 52-week range of $25.43-$34.57.

Price: 34.06, Change: , Percent Change:

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