Cheniere's Corpus Christi Train 2 To Come Online In May, 2020
Zacks Investment Research | Sep 05, 2019 01:50AM ET
Cheniere Energy, Inc. (NYSE:LNG) recently achieved a major milestone with the substantial completion of the construction of Train 2 at its Corpus Christi Liquefaction (CCL) project in Texas on Aug 28. Trains are basically used by LNG plants to liquefy natural gas so that it can be transported on ships. Cheniere’s engineering and chemical partner Bechtel Oil, Gas and Chemicals, Inc. has handed over Train 2’s custody to Cheniere.
Notably, the company had dispatched the first cargo from its CCL project on Dec 11, 2018. Under the same, it intends to develop three trains, each having a nominal production capacity of 4.5 million metric tons of liquefied natural gas (LNG) per year. While Train 1 came online earlier this year, Train 2 will be operational in May next year and Train 3, which is under construction, is scheduled to get ready in 2021.
Apart from CCL, Cheniere currently operates five trains at its Sabine Pass in Louisiana. It further announced plans of building its sixth train that will enhance its production volume to 27 metric tons per annum (mtpa) of LNG. Altogether, Cheniere with its engineering partner Bechtel has built seven liquefaction trains ahead of schedule within the project’s spending plan.
With the commencement of its first commercial delivery through its second CCL train in May, 2020, this Houston-based company will ferry LNG to Électricité de France, S.A., Iberdrola (MC:IBE), S.A., Naturgy Energy Group S.A., PT Pertamina (Persero), and Woodside Energy Trading Singapore Pte Ltd.
The first LNG exporter of the United States plans to construct seven smaller trains neighboring Corpus Christi Bay across 1,000 acres terrain. Each train is expected to own a production capacity of 9.5 mtpa. The first smaller train is estimated to be accessible in 2022.
Cheniere Energy, Inc. Price
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