
On June 22, Cheniere Energy reached final investment decision on its LNG Corpus Christi Stage 3 project, which is projected to deliver 10 million tonnes per annum of LNG. (Source: Hart Energy)
Cheniere Energy Inc.'s board of directors has made a positive financial investment decision (FID) with respect to the more than 10 million tonnes per annum (mtpa) of LNG Corpus Christi Stage 3 liquefaction project, a press release announced on June 22.
The company issued full notice to proceed to Bechtel Energy Inc. to continue construction on the project, which began earlier this year under limited notice to proceed.
UPDATE:
Cheniere Eying Further LNG Growth Following Corpus Christi Expansion FID
On June 15, Cheniere Corpus Christi Holdings LLC closed on an amended and restated approximately $4 billion senior secured term loan due 2029, as well as an amended, extended and upsized $1.5 billion working capital facility due 2027. The remaining costs are expected to be funded from Cheniere.
“Reaching FID on Corpus Christi Stage 3 represents an important milestone for Cheniere as we move forward on this significant growth project, which will strengthen our market-leading LNG infrastructure platform, provide much-needed volumes to the global LNG market by the end of 2025 and create long-term value for our stakeholders,” Cheniere president and CEO Jack Fusco commented.
Borrowings under the 2029 term loan are being used to fund approximately half of the total expected cost to develop, construct and place into service Corpus Christi Stage 3, the associated pipeline expansion and other infrastructure at or near the project and for related business purposes.
Cheniere's Corpus Christi project is expected to include up to seven midscale liquefaction trains with a total nominal capacity that is expected to exceed 10 mtpa to keep up with LNG global demand, which is projected to increase by 2040.
Recommended Reading
Aris CEO Brock Foresees Consolidation as Need for Water Management Grows
2025-02-14 - As E&Ps get more efficient and operators drill longer laterals, the sheer amount of produced water continues to grow. Aris Water Solutions CEO Amanda Brock says consolidation is likely to handle the needed infrastructure expansions.
Digital Twins ‘Fad’ Takes on New Life as Tool to Advance Long-Term Goals
2025-02-13 - As top E&P players such as BP, Chevron and Shell adopt the use of digital twins, the technology has gone from what engineers thought of as a ‘fad’ to a useful tool to solve business problems and hit long-term goals.
Momentum AI’s Neural Networks Find the Signal in All That Drilling Noise
2025-02-11 - Oklahoma-based Momentum AI says its model helps drillers avoid fracture-driven interactions.
Halliburton Secures Drilling Contract from Petrobras Offshore Brazil
2025-01-30 - Halliburton Co. said the contract expands its drilling services footprint in the presalt and post-salt areas for both development and exploration wells.
TGS to Reprocess Seismic Data in India’s Krishna-Godavari Basin
2025-01-28 - TGS will reprocess 3D seismic data, including 10,900 sq km of open acreage available in India’s upcoming 10th Open Acreage Licensing Policy (OALP) bid round blocks.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.