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Cheniere tops earnings estimates, raises full year profit view

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Top U.S. liquefied natural gas exporter Cheniere Energy Inc reported second-quarter earnings that topped Wall Street forecasts, and raised its full-year profit outlook.

reported second-quarter earnings that topped Wall Street forecasts, and raised its full-year profit outlook.

President Jack Fusco said construction of its Corpus Christi, Texas, Stage 3 expansion project is 38% complete and running ahead of schedule for a late 2025 startup. Cost inflation on that and its Corpus Christi midscale project is running around 10%, he said. U.S. natural gas prices averaged $2.417 per million British thermal units during the April-June quarter, down nearly 63% from the year-ago quarter, when demand skyrocketed following Russia's invasion of Ukraine.

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