Cheniere Achieves First LNG at the Corpus Christi Stage 3 Project

[cmm3rd]

Cheniere Achieves First LNG at the Corpus Christi Stage 3 Project


Business Wire

8:05 AM ET Dec-30-2024

HOUSTON--(BUSINESS WIRE)-- Cheniere Energy, Inc. (LNG.NaE) (“Cheniere” or the “Company”) today announced that liquefied natural gas (“LNG”) was produced for the first time from the first train (“Train 1”) of the Company’s Corpus Christi Stage 3 Liquefaction Project (“CCL Stage 3”). The commissioning process continues, and Cheniere expects substantial completion of Train 1 to be achieved at the end of the first quarter of 2025, over six months ahead of the guaranteed completion date. Upon substantial completion, Bechtel Energy, Inc. (“Bechtel”) will transfer care, custody and control of the completed train to Cheniere.

Full notice to proceed on CCL Stage 3 was issued to Bechtel by Cheniere in June 2022. CCL Stage 3 consists of seven midscale trains, with an expected total production capacity of over 10 million tonnes per annum (“mtpa”) of LNG. As of November 30, 2024, overall project completion for CCL Stage 3 was 75.9%, which reflects engineering 96.8% complete, procurement 97.2% complete, subcontract work 87.7% complete and construction 39.2% complete. Upon substantial completion of all seven trains of CCL Stage 3, the expected total production capacity of the Corpus Christi liquefaction facility will be over 25 mtpa of LNG.

[dan_s]

This is obviously bullish for U.S. natural gas prices. Exxon's Golden Pass Trains 1 and 2 are also expected to be completed by Q4 2025.

Everything is heading in the right direction for the gassers.