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    Cheniere Energy delivers profits in Q2

Summary

During the three-month period, agreements were signed covering 140mn mt/yr of LNG sales.

by: Dale Lunan

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Complimentary, Natural Gas & LNG News, World, Americas, Liquefied Natural Gas (LNG), Corporate, Financials, News By Country, United States

Cheniere Energy delivers profits in Q2

US LNG developer Cheniere Energy said August 4 it had Q2 2022 net income of $741mn and adjusted EBITDA of $2.53bn, reversing a net loss of $329mn in the same period last year and more than doubling quarterly EBITDA from $1.02bn in Q2 2021.

“The second quarter was marked by many successes, including excellent safety and operating performance at both of our facilities, as well as seamless execution of our strategy throughout the LNG value chain,” CEO Jack Fusco said. “We secured meaningful growth of our LNG platform with the FID of Corpus Christi Stage 3, maintained significant commercial momentum, and commenced providing our Cargo Emission Tags – all of which demonstrate the reliability and the durability of the Cheniere platform.”

During the quarter, Cheniere and its subsidiaries signed new long-term contracts representing about 140mn mt/yr of LNG deliveries through 2050. New sales and purchase agreements were signed with South Korean steelmaker POSCO, Norway’s Equinor, US major Chevron, PetroChina International and Thai-based PTT Global LNG. 

And in June, it began providing its long-awaited Cargo Emission Tags to its long-term customers, providing those customers with estimated greenhouse gas emissions associated with each LNG cargo produced at Cheniere’s liquefaction facilities in Texas and Louisiana.

During the second quarter, Cheniere exported 156 cargoes representing about 563 trillion Btu (TBtu) of LNG, up from Q2 2021 deliveries of 139 cargoes and 496 TBtu of LNG. Through the first six months this year, 1,147 TBtu of LNG has been delivered, up from 976 TBtu in the first half last year.