Cheniere board approves Corpus Christi LNG expansion project
Cheniere Energy said on Tuesday its board had approved the final investment decision for the expansion of the Corpus Christi liquefied natural gas (LNG) project.
The largest U.S. LNG exporter said Bechtel Energy has been asked to proceed with construction of the projects, CCL Midscale Trains 8 & 9.
Cheniere has said it plans to double its current LNG production to 90 metric MMtpy by building more export facilities at Sabine Pass and Corpus Christi.
Additionally, the company said on Tuesday it has been developing further brownfield liquefaction capacity expansions at both the Corpus Christi and Sabine Pass terminals.
The company expects to execute the plan in a phased manner, starting with initial single-train expansions at each site, if completed, would grow its LNG platform to up to about 75 metric MMtpy of capacity by the early 2030s.
The United States is the world's largest exporter of LNG and commercial activity in the sector gained momentum after President Donald Trump lifted a moratorium on new LNG export permits (learn more) soon after taking office in January.
In February, Cheniere had said it would aggressively pursue new regulatory permits to expand capacity.
Cheniere said on Tuesday it expects to deploy more than $25 B of available cash through 2030 toward growth, share repurchases, balance sheet management and dividends.
It also raised its run-rate LNG production capacity forecast to be between nearly 60 MMtpy and 63 MMtpy from about 54 MMtpy and 57 MMtpy previously.
Upon completion of CCL Midscale Trains 8 & 9, and together with expected debottlenecking and CCL Stage 3, the Corpus Christi LNG terminal is expected to reach over 30 MMtpy in total liquefaction capacity later this decade, Cheniere added.
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