Researched by Industrial Info Resources (Sugar Land, Texas); a global overabundance of liquefied natural gas (LNG) is diminishing prices and proving tricky for Cheniere Energy, which began exporting the product earlier this year.
Although the company lost just shy of US$300 million in the second quarter of 2016 (2Q16), compared with a loss of about US$118 million in the same period last year, executives expressed optimism in a quarterly earnings call that demand for LNG would strengthen in coming years and the company's long term agreements with customers will begin to pay off in spades.
Industrial Info's project database is tracking US$36.8 billion in active Cheniere projects, all but US$1 billion of which are located at the Sabine Pass and Corpus Christi facilities in Texas.
Adapted from press release by Francesca Brindle
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/15082016/cheniere-energy-struggling-with-lng-exports-3918/