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.

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