Cheniere’s quarterly revenues rise

US liquefied natural gas exporter Cheniere posted a 20 percent increase in first-quarter revenues while net profit rose to $375 million.

The LNG company reported revenues of $2.71 billion in the January-March period, compared to $2.26 billion in the same period the year before.

Net income increased by $234 million year-on-year primarily due to increased total margins which rose on larger volumes coming from additional trains in operation, Cheniere said.

Cheniere currently operates five production units at its Sabine Pass facility and two at Corpus Christi. It is is also building one additional train at each of the liquefaction terminals.

As of April 27, more than 1,100 cumulative LNG cargoes totaling over 75 million tonnes have been exported from Cheniere’s terminals.

Cheniere shipped 128 LNG cargoes during the March quarter.

The Covid-19 coronavirus pandemic also affected the LNG company’s operations.

Cheniere’s chief executive Jack Fusco said he first quarter was defined by “unprecedented” circumstances.

“Our focus at Cheniere has been to protect the health and safety of our workforce, ensure continuity of construction and operations to deliver on our obligations to our customers, and to support the communities where we live and work with assistance needed to provide critical services,” he said.

Fusco reconfirmed Cheniere’s full-year 2020 guidance of consolidated adjusted EBITDA of $3.8 to $4.1 billion, and distributable cash flow of $1 to $1.3 billion.

Most Popular

Yang Ming books LNG-powered containerships in South Korea

Taiwan’s Yang Ming Marine Transport has decided to order LNG dual-fuel container vessels from South Korea's Hanwha Ocean as part of its ongoing fleet optimization plan.

Sabah to take stake in Petronas’ third FLNG

SMJ Energy, owned by the Sabah government, has signed a heads of agreement with Malaysian energy giant Petronas to take a 25 percent stake in the latter's third floating LNG production unit.

Japan’s LNG imports drop in June

Japan’s liquefied natural gas (LNG) imports dropped by 2.8 percent in June compared to the same month last year, according to provisional data released by the country’s Ministry of Finance.

More News Like This

Port of Corpus Christi: H1 LNG volumes rise 10.8 percent

The US Port of Corpus Christi in Texas reported a 10.8 percent year-on-year increase in its liquefied natural gas (LNG) volumes in the first half of this year.

Cheniere’s Sabine Pass terminal ships 3,000th LNG cargo

Cheniere’s giant Sabine Pass LNG terminal in Louisiana has shipped the 3,000th cargo of liquefied natural gas since its launch in 2016.

Cheniere’s Corpus Christi expansion project 85.4 percent complete

The Stage 3 expansion project at Cheniere’s Corpus Christi LNG export plant in Texas is 85.4 percent complete.

Cheniere plans to boost LNG export capacity to 100 mtpa

US LNG exporting giant Cheniere plans to boost its export capacity to about 100 mtpa via new expansion projects at its Sabine Pass and Corpus Christi LNG terminals.