Cheniere Energy, the largest U.S. exporter of liquefied natural gas (LNG), reported a sharp rise in first-quarter revenue, boosted by strong global demand and higher natural gas prices.
LNG is natural gas cooled into a liquid to make it easier to ship. The United States became the world’s top LNG exporter in 2023, surpassing Australia and Qatar. The industry got a further boost in January when President Donald Trump ended a freeze on new export permits.
Cheniere said the increase in revenue came mainly from higher natural gas prices. The company earned $5.31 billion in LNG revenue for the quarter ending in March, up from $4.04 billion in the same period last year.
The growth included a $725 million gain from improved Henry Hub-linked contract pricing and $428 million from stronger short-term marketing sales, thanks to high global gas prices, according to the company’s filing.
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