Latest news with #CheniereEnergy
Reuters
18 hours ago
- Business
- Reuters
US LNG output declines in May from April's record
HOUSTON, June 2 (Reuters) - U.S. liquefied natural gas output fell in May due to plant outages and maintenance at the country's largest export facility, preliminary LSEG ship tracking data show. The U.S. is the world's largest LNG exporter and monthly changes in production can impact global LNG prices. In May the U.S. exported 8.9 million metric tons of LNG, down from a record 9.3 MT in April, according to LSEG data. During May all U.S. plants experienced short periods of lower output when compared to April, the LSEG data showed, and Cheniere Energy (LNG.N), opens new tab confirmed that its 30 MT per annum (mtpa) Sabine Pass facility in Texas, the biggest in the nation, was undergoing maintenance work. Gas flows to Sabine have held at a 23-month low of around 3.1 bcfd since May 31. That compares with an average of 4.3 bcfd over the prior seven days. Freeport LNG, the U.S.' third largest LNG producer, also reported several outages. Europe remained the favored market for U.S. LNG exports as traders tried to take advantage of higher prices in Europe for the superchilled gas when compared to Asia. Gas prices at the European benchmark Title Transfer Facility (TTF) in the Netherlands rose to $11.68 per million British thermal units (mmBtu) in May, up from $11.48 in April and an average of $10.12 in May 2024. Of the 8.9 MT of LNG exported from the U.S., 6.05 MT or 68% went to Europe, the same percentage as in April, LSEG data showed. Exports to Asia remained relatively low with 1.88 MT or 21% of total exports, compared to 2.05 MT or 22% of total exports in April, LSEG data showed. Stronger domestic production, pipeline imports, renewable generation and weak industrial demand have kept Chinese demand muted and China, the world's largest LNG user, continues to resell U.S. LNG to avoid paying retaliatory tariffs as the trade dispute continues between the world's two largest economies. Prices at the Asian benchmark Japan Korea Marker (JKM) slid to $11.83 per mmBtu in May, down from $12.23 in April but up from an average of $11.10 in May 2024. Exports to Latin America also fell with .66 MT sold in May compared to .68 MT in April. Egypt bought 3 cargoes for a total of .22 MT, while Bahrain bought one cargo for .07 MT. One cargo also left Cheniere's Sabine Pass plant on May 23, but as of Monday was in the Caribbean Sea with no clear destination, LSEG ship tracking data showed. The United States is poised to remain the world's largest LNG exporter with an expected 6 projects getting the financial go ahead in 2025, adding another 90 million metric tons per annum (mtpa) of LNG to the U.S. output by 2030.
Globe and Mail
4 days ago
- Business
- Globe and Mail
Long-Term Prosperity: Investing in America's Economic Pillars
If you believe in the U.S.'s long-term future, investing in sectors where the country has leadership, particularly the companies that lead the way, makes sense. In that vein, here's why Cheniere Energy (NYSE: LNG), GE Aerospace (NYSE: GE), and Tesla (NASDAQ: TSLA) are companies with a significant role in America's future. The United States is the largest liquefied natural gas exporter in the world From being a distant third behind Qatar and Australia in 2019, the U.S. has become the clear leader in liquefied natural gas (LNG) exports. According to the U.S. Energy Information Administration (EIA), the U.S. exported 11.9 billion cubic feet per day (Bcf/d) of LNG in 2024, while Qatar and Australia have exported no more than 10.7 Bcf/d annually during the past five years. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » That's in no small part due to Cheniere Energy, which exported 2,33 trillion British thermal units (TBtu) in 2024 -- a figure that equates to 6.37 Bcf/d. It has a 100% interest in the Corpus Christi LNG Terminal which has a current production capacity of 15 million tonnes per annum (mtpa), and a majority stake in Sabine Pass LNG Terminal, which has a current production capacity of 30 mtpa. The total 45 mtpa equals a nominal capacity of 5.92 Bcf/d, with Cheniere outperforming its nominal capacity in 2024. With the current administration strongly supportive of LNG (as opposed to the Biden administration, which froze new permits for LNG exports), Chief Executive Officer Jack Fusco believes "we have an opportunity and a strategic imperative to secure permits for significant growth at both Sabine and Corpus in order to derisk the permitting requirements of future project development with line of sight to a total capacity of over 90 million tonnes per annum." With expansion activity already set for 2025 (Corpus Christi) and a favorable administration in the White House, Cheniere's future looks bright. The U.S. dominates aerospace and defense While recognizing that Boeing has had its issues in recent years, and Airbus is a formidable competitor, there's little doubt that GE Aerospace is the clear market leader in commercial aerospace and defense engines. For example, its joint venture with France's Safran, CFM International, produces the LEAP engine -- the sole engine option on the Boeing 737 MAX, and one of only two options for the Airbus A320neo family. Incidentally, another American company, RTX, produces another option for the Airbus A320neo family. Moreover, GE's own GE9X is the only engine option on the new Boeing 777X, and its GEnx dominates orders on the Boeing 787. For example, the recent International Airlines Group order of 32 Boeing 787s for British Airways will be powered by the GEnx rather than a rival engine by the U.K.'s Rolls-Royce. Moreover, management believes its next generation of engines, RISE, will achieve a 20% improvement in fuel efficiency over the LEAP. Given that engines can have a 40-year life cycle and generate lucrative aftermarket revenue over that period, the combination of LEAP (entered service in 2016) and RISE (expected mid-2030s) could lead to a half-century of GE leadership in commercial aerospace engines. The Tesla Model Y is the best-selling car in the world Not only is Tesla's Model Y the best-selling electric vehicle (EV), but it is also the best-selling car in the world. Moreover, with all its production lines shifted to producing the refreshed version in 2025, and the legacy Model Y sold out in the U.S. and China, Tesla is ready to start improving Model Y sales again. In addition, Tesla has several positive catalysts in store, not least the launch of its robotaxi in Austin, Texas, in June (unsupervised autonomy on a Model Y); the mass production of its dedicated robotaxi vehicle, Cybercab, in 2026; and lower-cost models in 2025. Given Tesla's checkered history of delivering on its aims on time and the disappointing sales of Cybertruck, it's fair to doubt the timing of these events. However, there is no doubt about Tesla's ability to lower its cost of goods per vehicle. It fell below $35,000 at the end of 2024, compared to $84,000 in 2017, and more than $38,000 at the start of 2023. This is a key point because it enables Tesla to generate higher profit margins, release lower-cost models, and stay ahead of the competition. It also helps ensure Tesla can get robotaxis (where the company's real value lies) on the road (whether modified existing Teslas or dedicated Cybercabs), which will be highly competitive with Waymo's offering. CEO Elon Musk may well be a divisive figure, but the reality is that he's driven Tesla to a leadership position in the key sports utility vehicle (SUV) market with the Y (and to a lesser extent, in the sedan market with the Model 3) in the U.S. when otherwise, American cars were also-rans in the categories before. If America leads the way in EVs and robotaxis, it's highly likely that Tesla will be out in front. Should you invest $1,000 in Cheniere Energy right now? Before you buy stock in Cheniere Energy, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Cheniere Energy wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. 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Reuters
4 days ago
- Business
- Reuters
Cheniere Energy begins maintenance work on Sabine Pass LNG plant, company confirms
HOUSTON, May 30 (Reuters) - Annual maintenance work on the largest U.S. LNG plant, Sabine Pass, has begun, Cheniere Energy (LNG.N), opens new tab said. The annual maintenance work is expected to reduce U.S. output of LNG for the next few weeks.
Yahoo
5 days ago
- Business
- Yahoo
Cheniere Energy inks production marketing deal with Canadian Natural Resources
Cheniere Energy's subsidiary, Cheniere Marketing, has entered into a long-term integrated production marketing (IPM) agreement with Canadian Natural Resources. The deal, which is expected to start in 2030, involves the sale of 140 billion metric British thermal units per day of natural gas by a subsidiary of Canadian Natural Resources over a 15-year period. Under the terms of the agreement, the liquefied natural gas (LNG) associated with this gas supply, approximately 850,000 tonnes per annum (tpa), will be marketed by Cheniere Marketing. The pricing for the natural gas will be linked to the Platts Japan Korea Marker, with deductions for fixed LNG shipping costs and a fixed liquefaction fee. The execution of the IPM agreement is contingent upon Cheniere's positive final investment decision regarding the Sabine Pass Liquefaction Expansion Project. This project is expected to have a total production capacity of up to 20 million tonnes per annum of LNG, including estimated debottlenecking opportunities. In March, Cheniere Energy announced the substantial completion of Train 1 at the Corpus Christi Stage 3 Liquefaction Project in Texas, US. This milestone signifies the handover of Train 1 and its associated systems from Bechtel Energy, the project's engineering, procurement and construction partner, to Cheniere. In October 2024, Canadian Natural Resources reached a definitive agreement to acquire Chevron Canada's assets for $6.5bn (C$8.86bn). The deal included a 20% non-operated interest in the Athabasca Oil Sands Project and a 70% operated interest in the Duvernay shale formation, along with associated assets, all situated in Alberta, Canada. "Cheniere Energy inks production marketing deal with Canadian Natural Resources" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
5 days ago
- Business
- Yahoo
Cheniere Energy inks production marketing deal with Canadian Natural Resources
Cheniere Energy's subsidiary, Cheniere Marketing, has entered into a long-term integrated production marketing (IPM) agreement with Canadian Natural Resources. The deal, which is expected to start in 2030, involves the sale of 140 billion metric British thermal units per day of natural gas by a subsidiary of Canadian Natural Resources over a 15-year period. Under the terms of the agreement, the liquefied natural gas (LNG) associated with this gas supply, approximately 850,000 tonnes per annum (tpa), will be marketed by Cheniere Marketing. The pricing for the natural gas will be linked to the Platts Japan Korea Marker, with deductions for fixed LNG shipping costs and a fixed liquefaction fee. The execution of the IPM agreement is contingent upon Cheniere's positive final investment decision regarding the Sabine Pass Liquefaction Expansion Project. This project is expected to have a total production capacity of up to 20 million tonnes per annum of LNG, including estimated debottlenecking opportunities. In March, Cheniere Energy announced the substantial completion of Train 1 at the Corpus Christi Stage 3 Liquefaction Project in Texas, US. This milestone signifies the handover of Train 1 and its associated systems from Bechtel Energy, the project's engineering, procurement and construction partner, to Cheniere. In October 2024, Canadian Natural Resources reached a definitive agreement to acquire Chevron Canada's assets for $6.5bn (C$8.86bn). The deal included a 20% non-operated interest in the Athabasca Oil Sands Project and a 70% operated interest in the Duvernay shale formation, along with associated assets, all situated in Alberta, Canada. "Cheniere Energy inks production marketing deal with Canadian Natural Resources" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
