Cheniere reports Q1 profits were bolstered by LNG, and announces GHG Shell collaboration

Cheniere reports Q1 profits were bolstered by LNG, and announces GHG Shell collaboration


Strong demand for liquefied natural gas (LNG) helped Cheniere Energy record an almost five percent increase in its quarterly profit.

Having recently delivered its first carbon neutral LNG shipment to Europe, the company has seen global LNG loadings remain robust. According to data from S&P Global Platts Analytics, they were up 3.3 percent year on year through the end of April.

Cheniere said: “We collaborated with Shell to offset the full lifecycle GHG emissions of an LNG cargo delivered to Europe.”

Speaking during an investor conference call, Anatol Feygin, Cheniere’s chief commercial officer said: “Forward margins today during the Northern Hemisphere spring shoulder season are higher than they have been at any point for this season since we began operating just over five years ago.”

A surge in shipments has yet to translate into sufficient commercial activity to allow developers to sanction the construction of new liquefaction terminals in the US.

Although short and medium-term contracting has remained relatively robust, just a few new long-term contracts tied to US terminals have been signed over the last year and a half.

In other related news, Cheniere has not yet made a final investment decision on the midscale liquefaction expansion it has proposed to build at its export facility near Corpus Christi, Texas.

For more information visit www.cheniere.com

6th May 2021