Sign Up for FREE Daily Energy News
Canadian Flag CDN NEWS  |  US Flag US NEWS  | TIMELY. FOCUSED. RELEVANT. FREE
  • Stay Connected
  • linkedin
  • twitter
  • facebook
  • youtube2
BREAKING NEWS:

Vista Projects
Copper Tip Energy Services
Hazloc Heaters
Copper Tip Energy
Hazloc Heaters
Vista Projects


Cheniere Energy posts Q2 profit on strong LNG demand


English Español 简体中文 हिन्दी Português
These translations are done via Google Translate

Aug 4 (Reuters) – Liquefied natural gas exporter Cheniere Energy Inc (LNG.A) reported a second-quarter profit on Thursday, boosted by surging demand from buyers seeking to offset gas shortages from Russia.

Western sanctions imposed on Moscow in response to its war on Ukraine has fueled a scramble for alternatives to Russian gas, sending global gas prices soaring, with forecast for LNG demand expected to double by 2040.

The United States, which has committed to deliver additional liquefied natural gas (LNG) to European countries, became the top exporter of the supercooled fuel in the first half of 2022.

GLJ

Cheniere, which accounts for around 50% of U.S shipments of LNG, said it loaded 570 trillion British thermal unit (TBtu) of LNG volumes, up from 499 TBtu a year earlier.

GLJ

The Houston-based company’s quarterly net income attributable to common stockholders came in at $741 million, or $2.9 per share, compared with a loss of $329 million, or $1.30 per share, a year earlier.



Share This:



More News Articles


GET ENERGYNOW’S DAILY EMAIL FOR FREE