Cheniere Energy, the largest U.S. LNG exporter, is expected to report strong Q1 LNG demand benefiting from the Strait of Hormuz disruption that pushed European and Asian buyers toward alternative supply sources.
U.S. LNG exports ran near full capacity at approximately 14 Bcf/d throughout the first quarter. Cheniere's Sabine Pass (Louisiana) and Corpus Christi (Texas) facilities both operated at nameplate capacity.
With the Strait of Hormuz now reopening, Qatari LNG flows to Europe and Asia will gradually normalize. This may reduce some of the crisis premium on U.S. LNG, but Cheniere's long-term contracted revenue model provides significant insulation from spot price volatility.
The company is advancing construction on the Corpus Christi Stage 3 expansion, which will add approximately 10 MTPA of capacity. First cargoes from the expansion are expected in late 2026.