Cheniere Makes Expected Decision to Proceed on Corpus Christi Train 3
As we anticipated, wide-moat Cheniere Energy has announced that it plans to proceed with the construction of Corpus Christi train 3, which will produce around 4.5 million tons of liquefied natural gas annually. We had already incorporated the train into our model and our $67 fair value estimate earlier this year. After Cheniere signed agreements with China Natural Petroleum and Trafigura earlier this year to supply LNG, we believed the train had enough capacity contracted to go forward. Consider...Cheniere Energy is an energy company engaged in liquefied natural gas (LNG)-related businesses. The company is focusing its development in the following LNG terminal projects, which is under construction: the Sabine Pass LNG terminal located in Cameron Parish, LA; and the Corpus Christi LNG terminal near Corpus Christi, TX. The company's subsidiary, Cheniere Energy Partners, L.P. is developing, constructing and operating natural gas liquefaction facilities at the Sabine Pass LNG terminal. The company is developing and constructing a natural gas liquefaction and export facility at the Corpus Christi LNG terminal and operates a natural gas supply pipeline. The company is also in various stages of developing other projects.
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