On September 1, Cheniere rose 3.06% in regular trading, trading at $290.93/share, with turnover of $234 million. The rally was driven by the announcement that the company has achieved substantial completion of its Corpus Christi Liquefaction Stage 3 Project in Texas.
Specifically, engineering, procurement and construction contractor Bechtel Energy has turned over the seventh and final production train of the project, marking the completion of the entire expansion. The project expands Cheniere's LNG production capacity by more than 20% to 56 million metric tons per annum. Concurrently, the company announced it has produced and exported its 5,000th LNG cargo from its US Gulf Coast operations, underscoring its dominant position in American LNG exports.
Management has previously guided that even if margins compress to approximately $3 per million British thermal units, annual EBITDA is still expected to exceed $8 billion. RBC Capital Markets noted that tight global LNG supply, shorter maintenance periods, and flexible contracts allowing cargoes to be redirected to higher-priced markets should continue to support earnings growth. Additionally, President Jack Fusco indicated midscale expansion projects could add up to 5 million tons per annum of capacity within the next year.
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