Cheniere Posts Q2 Profit on Strong LNG Demand, Raises Outlook

Cheniere Energy Inc., the largest U.S. LNG exporter, reported a second-quarter profit on Aug. 4 and raised its full-year outlook, boosted by demand from buyers seeking to replace gas from Russia.

Western sanctions imposed on Moscow in response to its war on Ukraine has fueled a scramble for alternatives to Russian gas, sending global gas prices soaring, with forecast for LNG demand expected to double by 2040. The United States, which has committed to deliver additional LNG to European countries, became the top exporter of the supercooled fuel in the first half of 2022.