Cheniere inks new LNG supply deals, Q1 revenue climbs

US LNG export firm Cheniere said it has entered into new supply deals during the first quarter as it reported a 14 percent rise in revenue.

Cheniere signed fixed-fee LNG sales agreements with “multiple counterparties” for portfolio volumes.

Under the deals, the firm said it would sell around 1.7 million tonnes of LNG across 2022 and 2023 but it did not provide any additional information.

Cheniere’s revenue increased to $3.09 billion in the first quarter from $2.71 billion a year earlier.

Consolidated adjusted Ebitda rose 40 percent to $1.45 billion primarily due to increased margins while net income increased 5 percent to $393 million, it said.

The firm also raised the full-year consolidated adjusted Ebitda guidance to $4.3 – $4.6 billion and distributable cash flow guidance to $1.6 – $1.9 billion primarily due to improved market margins, it said.

“We are off to a great start in 2021, with reliable production of LNG and our continued ardent focus on execution, as well as sustained strength in LNG markets, helping drive our strong first quarter results and positive outlook for the future,” chief executive Jack Fusco, said.

- Advertisements -

Most Popular

BP, PetroChina book capacity at Dutch Gate LNG terminal

BP and a unit of PetroChina have agreed to book long-term capacity at the Dutch Gate LNG import terminal,...

TotalEnergies releases Mozambique LNG report

French energy giant TotalEnergies on Tuesday released a report regarding the humanitarian situation in the province of Cabo Delgado,...

LNG carrier Golar Gandria sold for demolition

Floating LNG player Golar LNG has sold its 1977-built LNG carrier, Golar Gandria, for demolition, according to brokers. The 125,000-cbm...

More News Like This

South Korea’s KOSPO to buy LNG from Cheniere

South Korea's KOSPO is the Asian buyer behind a long-term LNG deal Cheniere revealed earlier this month. Cheniere’s CEO Jack Fusco announced...

Cheniere seals long-term LNG supply deal with Asian firm

US LNG exporter Cheniere has signed a long-term LNG sales and purchase agreement with an Asian firm and related...

Cheniere sets quarterly LNG production record, raises guidance

US LNG exporting giant Cheniere, the owner of the Sabine Pass and Corpus Christi terminals, set a quarterly production...

Cheniere seeks FERC OK to build two more Corpus Christi LNG trains

US LNG exporting giant Cheniere has filed an application with the US FERC seeking authorization to construct two midscale...