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Released March 18, 2025 | SUGAR LAND
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Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Cheniere Energy Incorporated (NYSE:LNG) (Houston, Texas) said Monday the first liquefaction unit at Stage 3 of its Corpus Christi liquefied natural gas (LNG) export facility in Texas has been substantially completed.
In February, Cheniere said in its fourth-quarter 2024 earnings report that Stage 3 was 77.2% complete. Of that, engineering and procurement were 97.2% complete, subcontracted work was 88.2% finished 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.
The company said Monday that engineering firm Bechtel (Reston, Virginia) had turned custody over to Cheniere. The facility produced its first batch of LNG at Stage 3 in December.
Corpus Christi currently is the second-largest LNG export facility in the U.S., with a peak design capacity of 2.4 billion cubic feet per day (Bcf/d). Cheniere's Sabine Pass facility in Louisiana is the largest such facility in the U.S., with a peak of 4.5 Bcf/d.
Once all seven liquefaction trains are completed at Corpus Christi, Stage 3 will have a capacity of about 3.3 Bcf/d.
Cheniere is planning for a record year in LNG. The 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. For more information, see February 21, 2025, article - Corpus Christi LNG Close to Launching Stage 3.
A demand surge from inclement weather in North America has lifted Henry Hub so far this year. Settling as low as $2.99 per million British thermal units (MMBtu) earlier this year, Henry Hub started the trading day on Monday closer to $4.10.
Alongside price recovery, the LNG sector got a lift with the return of President Donald Trump to the White House. Creating a council for energy dominance, the president signed executive action that led to a surge in permits for LNG exports.
Former President Joe Biden suspended new permits while his administration studied the potential for emissions up and down the LNG supply chain. A court later paused Biden's order, though the U.S. became the world leader in LNG exports under his watch.
The U.S. exported 15.6 Bcf on Friday. The U.S. Department of Energy said it expects LNG exports will average 14 Bcf/d this year and jump to 16 Bcf/d by 2026.
IIR Energy reported Friday that total U.S. gas production was 103.9 Bcf/d, a 0.8% increase from year-ago levels. Most of the increase came from the Appalachia Basin.
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) 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).
In February, Cheniere said in its fourth-quarter 2024 earnings report that Stage 3 was 77.2% complete. Of that, engineering and procurement were 97.2% complete, subcontracted work was 88.2% finished 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.
The company said Monday that engineering firm Bechtel (Reston, Virginia) had turned custody over to Cheniere. The facility produced its first batch of LNG at Stage 3 in December.
Corpus Christi currently is the second-largest LNG export facility in the U.S., with a peak design capacity of 2.4 billion cubic feet per day (Bcf/d). Cheniere's Sabine Pass facility in Louisiana is the largest such facility in the U.S., with a peak of 4.5 Bcf/d.
Once all seven liquefaction trains are completed at Corpus Christi, Stage 3 will have a capacity of about 3.3 Bcf/d.
Cheniere is planning for a record year in LNG. The 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. For more information, see February 21, 2025, article - Corpus Christi LNG Close to Launching Stage 3.
A demand surge from inclement weather in North America has lifted Henry Hub so far this year. Settling as low as $2.99 per million British thermal units (MMBtu) earlier this year, Henry Hub started the trading day on Monday closer to $4.10.
Alongside price recovery, the LNG sector got a lift with the return of President Donald Trump to the White House. Creating a council for energy dominance, the president signed executive action that led to a surge in permits for LNG exports.
Former President Joe Biden suspended new permits while his administration studied the potential for emissions up and down the LNG supply chain. A court later paused Biden's order, though the U.S. became the world leader in LNG exports under his watch.
The U.S. exported 15.6 Bcf on Friday. The U.S. Department of Energy said it expects LNG exports will average 14 Bcf/d this year and jump to 16 Bcf/d by 2026.
IIR Energy reported Friday that total U.S. gas production was 103.9 Bcf/d, a 0.8% increase from year-ago levels. Most of the increase came from the Appalachia Basin.
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) 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).
