Cheniere Boosts $10 Billion Buyback as Corpus Christi Expansion Nears Completion
Cheniere Energy more than doubled quarterly profit on strong LNG demand, raised its buyback plan above $10 billion and moved closer to completing Corpus Christi Stage 3 as U.S. exports continue climbing.
(Reuters) — Cheniere Energy said its fourth-quarter profit more than doubled on strong liquefied natural gas (LNG) demand and the company raised its share repurchase target to more than $10 billion through 2030.
Shares of the largest LNG producer in the U.S. were up 1.2% at about $223 in premarket trading on Thursday.
The U.S. is the world's largest LNG exporter and had shipped 15 billion cubic feet per day of the supercooled fuel last year, according to the U.S. Energy Information Administration (EIA), up 26% from 2024.
Commercial activity in the sector gained further momentum after President Donald Trump lifted a moratorium on new LNG export permits after taking office in January last year.
Cheniere's Corpus Christi Stage 3 project, an export facility in South Texas, was 94.1% complete as of Dec. 31, the company said on Feb. 26.
In late December, the company completed Train 4 at the project with the three remaining trains set to be finished in 2026.
The project is expected to add 10 million metric tons per annum (MMtpy) of LNG to Cheniere's production capacity of 15 MMtpy at the Corpus Christi export facility.
Separately, the LNG producer said it will supply 1.2 million tonnes per annum (MMtpy) of LNG to Taiwan's CPC from 2026 through 2050.
Strong Quarter
The company reported net income attributable to Cheniere of $2.3 billion or $10.68 per share for the quarter ended Dec. 31, compared with $977 million or $4.33 per share a year earlier.
LNG revenue rose 24.5% to $5.31 billion in the quarter, from a year earlier, while the number of cargoes exported was up about 11% at 185.
The company said the revised buyback plan reflects a $9 billion increase to its existing authorization, which included $1 billion deployed in the fourth quarter.
Cheniere forecast an adjusted core profit between $6.75 billion and $7.25 billion for 2026, which fell below Wall Street estimates of $7.27 billion, according to data compiled by LSEG.