Cheniere’s Corpus Christi Stage 3 Trains 1-3 on track for 2025 completion

Cheniere Energy Inc. expects completion of the first three trains of its 10-million tonne/year (tpy) Corpus Christi Stage 3 (CCL Stage 3) liquefaction project this year. 

The company produced the first cargo of LNG from the project in February and said about 20% of Train 2 systems are in commissioning and start-up teams are starting the process to bring systems into service. Trains 1-3 are expected to reach substantial completion this year with the overall project 77.2% complete as of Dec. 31, 2024. 

The company believes CCL Stage 3 Trains 8-9 will receive Department of Energy non-FTA approval and reach final investment decision (FID) this year. The two midscale trains are designed for expected total production capacity of about 3 million tpy of LNG, adjacent to the CCL Stage 3 project.

The update came as part of the company’s fourth-quarter 2024 report.

LNG was produced for the first time from Train 1 in December 2024 (OGJ Online, Jan. 3, 2025). Substantial completion is still on target for the end of this year’s first quarter, the company said in its earnings release Feb. 20. 

Jack Fusco, Cheniere’s president and chief executive officer, said the company exported a record 646 cargoes of LNG in 2024, and that the production. 

For 2025, informed by its “production forecast and the expected completion of the first three trains at Stage 3 this year.” The company guided 2025 consolidated adjusted EBITDA of $6.5-7 billion and distributable cash flow of $4.1-4.6 billion. 

For fourth-quarter 2024, Cheniere generated revenues of about $4.436 billion (down from $4.823 billion in fourth-quarter 2023), net income of $977 million (down from $1.377 billion in the year-prior quarter), and consolidated adjusted EBITDA of about $1.6 billion, with distributable cash flow of about $1.1 billion.