LNG

Cheniere Energy does not expect developing countries put all eggs in one basket by relying solely on US LNG for their energy security, Chief Finance Officer, Zach Davis said at a conference in Houston.

June 18 (LNGJ) - Cheniere Energy, the largest US LNG producer with the Sabine Pass and Corpus Christi plants and their expansion projects, has received board approval for an increase in its share repurchase authorisation by an additional $4 billion through 2027, and for a plan to increase its quarterly dividend by 15 percent to $2.00 per common share annualised, commencing with the third quarter 2024.

    Cheniere noted that the capital allocation plan started in 2022 to enable investment in growth projects while returning capital to shareholders. Share repurchases allow companies to re-invest in themselves while boosting the value of the shares as there are fewer outstanding. “Cheniere has funded accretive brownfield growth, bringing the Corpus Christi Stage 3 project to over 60 percent completion, repurchased 10 percent of shares outstanding while growing its dividend by over 30 percent,” Cheniere said.

Cheniere Energy, the largest US LNG exporter from the Sabine Pass plant in Louisiana and Corpus Christi in Texas, said it had the long-term potential to reach 90 million tonnes per annum of production using brownfield sites at both facilities as it raised its 2022 and future earnings forecasts.

Cheniere Energy, the largest US LNG exporter from its Sabine Pass plant in Louisiana and Corpus Christi facility in Texas, has approved a comprehensive, long-term capital allocation plan to achieve an investment-grade balance sheet, return significant capital to shareholders over time and continue to invest in growth.