Reports related to this article:
Project(s): View 2 related projects in PECWeb
Plant(s): View 2 related plants in PECWeb
Released February 21, 2025 | SUGAR LAND
en
Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Stage III of Cheniere Energy Incorporated's (Houston, Texas) Corpus Christi terminal for exports of liquefied natural gas (LNG) from Texas is nearly finished and should support what's expected to be a record year in deliveries, the company said Thursday.
Federal data show the plant has a current design capacity of 2.4 billion cubic feet of LNG per day, making it one of the largest facilities of its kind in the U.S.
A federal report noted that of the 30 vessels laden with LNG that left U.S. export terminals last week, five of them departed from Corpus Christi.
In offering guidance in its report on fourth-quarter earnings results, the company said the third stage of the facility was 77.2% complete. Of that, engineering and procurement were 97.2% complete, subcontracted work was 88.2% finised and actual construction was 42.6% complete. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Production Project Database can click here for the project report.
Jack Fusco, Cheniere's president and chief executive officer, said the company exported a record-setting 646 cargoes of LNG last year.
"Record production, coupled with strategic portfolio optimization, enabled us to achieve financial results at or above the high end of our guidance ranges, while the commissioning and startup of Corpus Christi Stage III positions us to further serve the global market with our reliable, affordable and cleaner-burning LNG," he said in a statement.
Industrial Info notes the first LNG from Stage III was achieved in December, but the plant hasn't been handed over yet to Cheniere from engineering firm Bechtel (Reston, Virginia). The handover is expected within a few weeks, though it's not yet ready for commercial operations.
With Stage III expected to be brought online soon, Fusco said he was planning for another record year in LNG. His company, however, took a massive hit during the fourth quarter. Net income of $977 million marked a 29% decline from the same period in 2023.
The company attributed the loss to a decline in natural gas prices, which led to lower margins for LNG exports. Henry Hub, the U.S. benchmark for the price of natural gas, hit record lows last year, but it's been elevated so far by the severe winter weather that's rocked much of North America so far in 2025.
It was 25 degrees Fahrenheit on Thursday morning in Corpus Christi, with freeze warnings and cold-weather advisories in place.
The U.S. is the established global leader in LNG exports, delivering just more than 16 billion cubic feet of gas in its liquid form on Wednesday. That's about 14% above the expected average for the year.
Several facilities are either under construction or expecting upgrades. Commonwealth LNG, meanwhile, recently received the permits necessary for exports from its planned facility in Cameron Parish, Louisiana.
Commonwealth is working to develop a facility that would have a design capacity of about 1.2 billion cubic feet per day in LNG exports. Subscribers can learn more by viewing the project report.
More gains may be expected yet this week in net LNG exports. IIR Energy reported Wednesday that feed gas into LNG facilities set a new record at 16.37 billion cubic feet.
Subscribers can click here for all project reports mentioned in this article and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Federal data show the plant has a current design capacity of 2.4 billion cubic feet of LNG per day, making it one of the largest facilities of its kind in the U.S.
A federal report noted that of the 30 vessels laden with LNG that left U.S. export terminals last week, five of them departed from Corpus Christi.
In offering guidance in its report on fourth-quarter earnings results, the company said the third stage of the facility was 77.2% complete. Of that, engineering and procurement were 97.2% complete, subcontracted work was 88.2% finised and actual construction was 42.6% complete. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Production Project Database can click here for the project report.
Jack Fusco, Cheniere's president and chief executive officer, said the company exported a record-setting 646 cargoes of LNG last year.
"Record production, coupled with strategic portfolio optimization, enabled us to achieve financial results at or above the high end of our guidance ranges, while the commissioning and startup of Corpus Christi Stage III positions us to further serve the global market with our reliable, affordable and cleaner-burning LNG," he said in a statement.
Industrial Info notes the first LNG from Stage III was achieved in December, but the plant hasn't been handed over yet to Cheniere from engineering firm Bechtel (Reston, Virginia). The handover is expected within a few weeks, though it's not yet ready for commercial operations.
With Stage III expected to be brought online soon, Fusco said he was planning for another record year in LNG. His company, however, took a massive hit during the fourth quarter. Net income of $977 million marked a 29% decline from the same period in 2023.
The company attributed the loss to a decline in natural gas prices, which led to lower margins for LNG exports. Henry Hub, the U.S. benchmark for the price of natural gas, hit record lows last year, but it's been elevated so far by the severe winter weather that's rocked much of North America so far in 2025.
It was 25 degrees Fahrenheit on Thursday morning in Corpus Christi, with freeze warnings and cold-weather advisories in place.
The U.S. is the established global leader in LNG exports, delivering just more than 16 billion cubic feet of gas in its liquid form on Wednesday. That's about 14% above the expected average for the year.
Several facilities are either under construction or expecting upgrades. Commonwealth LNG, meanwhile, recently received the permits necessary for exports from its planned facility in Cameron Parish, Louisiana.
Commonwealth is working to develop a facility that would have a design capacity of about 1.2 billion cubic feet per day in LNG exports. Subscribers can learn more by viewing the project report.
More gains may be expected yet this week in net LNG exports. IIR Energy reported Wednesday that feed gas into LNG facilities set a new record at 16.37 billion cubic feet.
Subscribers can click here for all project reports mentioned in this article and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
