Cheniere Energy, Inc. LNG recently announced that the first commissioned cargo from Train 3 at the Corpus Christi liquefied natural gas export terminal in South Texas was loaded onto LNG tanker La Mancha Knutsen. This marks the terminal's 200th cargo loading on La Mancha Knutsen.
Cheniere Energy’s Corpus Christi Liquefaction Project (CCL) aims to build three trains, each with a nominal production capacity predicted to be 4.5 million tons per annum (Mtpa) of LNG. Notably, Train 1 and 2 are functional. In June 2019, the first commissioned cargo from Train 2 was shipped.
Train 3 with a capacity of 4.5 Mtpa was sanctioned in 2018 by Cheniere Energy. In 2019, the company expected the train to come online in the first half of 2021 while in the last reported quarter, the company preponed its timeline to complete the third train in the first quarter of 2021 only.
Apart from the Corpus Christi Project, Cheniere Energy’s Sabine Pass is North America’s first large-scale liquefied gas export facility. The company intends to construct up to six trains in all at Sabine Pass with each train expected to have a capacity worth 4.5 Mtpa. Notably, the run-rate of LNG production is projected within 4.7-5 Mtpa. While Trains 1 to 5 are functional, Train 6 is currently under construction with completion estimated within the second half of 2022.
Further, Cheniere Energy intends to develop seven midscale liquefaction trains adjacent to the CCL Project. Total production capacities of these trains are expected to be approximately 10 Mtpa.
About the Company
Cheniere Energy is primarily engaged in businesses related to liquefied natural gas (or LNG) through its two business segments, namely LNG terminal, and LNG and natural gas marketing. The company through its controlling interest in Cheniere Energy Partners L.P. owns and operates the Sabine Pass LNG terminal (North America’s first large-scale liquefied gas export facility) in Louisiana.
Zacks Rank & Key Picks
Cheniere Energy currently carries a Zacks Rank #3 (Hold). Some better-ranked players in the energy space are CNOOC Limited CEO, Noble Corporation NE and Antero Midstream Corporation AM, each presently holding a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
CNOOC Limited (CEO): Free Stock Analysis Report
Antero Midstream Corporation (AM): Free Stock Analysis Report
Noble Corporation (NE): Free Stock Analysis Report
Cheniere Energy, Inc. (LNG): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.