Cheniere Energy Inc (LNG.A), the largest U.S. liquefied natural gas (LNG) exporter, reported its LNG revenue more than doubled in the third quarter on surging demand since Russia's invasion of Ukraine.
The Texas-based company posted revenue of $8.85 billion for the three months ended Sept. 30, up from $3.2 billion a year earlier.
Cheniere, which is also the nation's biggest buyer of natural gas, owns and operates liquefaction terminals at Sabine Pass in Louisiana and Corpus Christi in Texas.
Sabine can produce about 30 million tonnes per annum (MTPA) of LNG and Corpus can produce about 15 MTPA.
In addition to the operating units, Cheniere is building seven mid-scale liquefaction trains at Corpus, which it calls Stage III, that will be able to produce around 11.5 MTPA of LNG.
Cheniere said it has a $5.5 billion contract with Bechtel, a construction firm, to build the seven mid-scale trains.
Stage III is expected to enter service in 2025.
Cheniere is also developing two additional liquefaction trains at Corpus that could produce another 3 MTPA.
Cheniere said the development of the additional two trains at Corpus or other projects "will require, among other things, acceptable commercial and financing arrangements before we make a positive FID (final investment decision)."
Cheniere says it holds "significant land positions at both the Sabine Pass LNG Terminal and the Corpus Christi LNG Terminal which provide opportunity for further liquefaction capacity expansion."
(Reuters, November 3, 2022)
