Cheniere Energy Inc. had second-quarter 2020 net income of $197 million, versus a second-quarter 2019 loss of $114 million.
Bechtel Oil, Gas and Chemicals Inc. is building Cheniere’s Corpus Christi LNG Train 3 and Sabine Pass LNG Train 6 on accelerated schedules, with Cheniere describing both as being ahead of guaranteed time lines and within budget in its earnings conference call.
Corpus Christi Train 3 is more than 90% complete. Bechtel began early commissioning activities on it during the second quarter and introduced first fuel gas in early July. The company expects substantial completion of the project in first-half 2021, bringing total capacity to 15 million tonnes/year (tpy).
Cheniere is also developing Corpus Christi Stage 3, an expansion consisting of up to seven midscale trains at Corpus Christi with expected additional capacity of 10 million tpy. The company expects to begin construction of Stage 3 upon entering into an engineering, procurement, and construction contract and additional commercial agreements, and obtaining adequate financing.
Sabine Pass Train 6 is about 64% complete, according to Cheniere, with Bechtel projecting substantial completion in second-half 2022, ahead of previous estimates of first-half 2023. Cheniere also issued full notice to proceed to Bechtel regarding construction of the third marine birth at Sabine Pass and expects completion in first-half 2023 (OGJ Online, Aug. 3, 2020). Completion of Train 6 will bring Sabine Pass’ liquefaction capacity to 30 million tpy.
In April 2020, Midship Pipeline Co. LLC, in which Cheniere has an equity investment, placed into service its 1.1-bcfd Midship natural gas pipeline and related compression and interconnections, connecting production from the South Central Oklahoma Oil Province and Sooner Trend Anadarko basin Canadian and Kingfisher Counties (SCOOP-STACK) plays to Gulf Coast and southeast US markets.