Cheniere Energy Inc (LNG)

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Oil & Gas Stock Roundup: Shell's GoM Find, Cheniere's FID on Train 3 & More
May 29, 2018, 06:10:00 PM EDT By Nilanjan Choudhury, Zacks.com

2. Cheniere Energy recently gave its final approval regarding the construction of its third liquefaction unit or Train 3 at its Corpus Christi export terminal in Texas. The approval of the project marks the first final investment decision on the new LNG project in the United States since 2015. Building of the third train will be handed over to contractor Bechtel Oil, Gas and Chemicals, Inc., which had started with its initial construction in late 2017.

Notably, under the Corpus Christi LNG project, the company intends to develop three trains each having a nominal production capacity of 4.5 million metric tons per year of LNG. The first two trains are expected to come online next year.

However, the cost and timeline of the third train has not yet been disclosed and its construction is likely to take around four years. Cheniere's wholly-owned subsidiary, Cheniere Corpus Christi Holdings has credit facilities worth $6.1 billion, which are likely to be utilized to finance a portion of the construction and operation of the trains.

Further, Cheniere Energy intends to develop seven midscale liquefaction trains adjacent to the Corpus Christi project. The company has also initiated the regulatory approval process regarding the same. The total production capacities of these trains are expected to be approximately 9.5 million tons per annum. (Read more Cheniere Green Lights Train 3 of Corpus Christi Project)

https://www.nasdaq.com/article/oil-gas-stock-roundup-shells-gom-find-chenieres-fid-on-train-3-more-cm970335