Latest News

Cheniere Energy announces a jump in its second-quarter profits on the strength of LNG demand

Cheniere Energy announced a significant increase in its second-quarter profits on Thursday. This was largely due to the strong demand for liquefied gas (LNG).

In 2024, the U.S. was the largest exporter in the world of liquefied gas. It had shipped 11,9 billion cubic feet of supercooled fuel per day.

After Donald Trump took office, the commercial activity in this sector has increased.

According to U.S. Energy Information Administration data, the country exported 884.1 billion cubic feet of LNG between April and May. This compares with 671.5 billion cubic feet a year ago.

In the first quarter of 2016, LNG revenues were $4.52 Billion, up from $3.04 Billion a year ago.

The company reported a net profit attributable solely to Cheniere for the quarter ending June 30 of $1.63billion, or $7.30 a share. This compares with $880m, or $3.84, per share, one year earlier. (Reporting from Tanay Dhumal, Bengaluru. Editing by Shailesh Kuber)

(source: Reuters)