Cheniere quarterly revenue tumbles on lower LNG prices

Aug 3 (Reuters) – Cheniere Energy Inc’s (LNG.A) quarterly revenue nearly halved, the top U.S. liquefied natural gas (LNG) exporter said on Thursday, hammered by lower natural gas prices.

U.S. natural gas prices averaged $2.417 per million British thermal units (Btu) during the April-June quarter, down nearly 63% from the year-ago quarter, when demand skyrocketed following Russia’s invasion of Ukraine.

The company said its loaded LNG volumes fell to 547 trillion British thermal units (tbtu) for the second quarter ended June 30, compared with 570 tbtu in the year-earlier period.

The Houston, Texas-based energy firm posted quarterly revenue of $4.1 billion in the quarter, compared with $8 billion a year earlier.