Cheniere In the Black, as US Sabine Ramps Up

US LNG producer Cheniere reported a profit of $54mn in Q1 2017, compared with a loss of $321mn in the same period of last year, and loaded 43 cargoes from its Sabine Pass facility over the period, up from four in Q12016.

The increase in net income was primarily due to increased income from operations and decreased derivative loss, partially offset by increased interest expense and loss on early extinguishment of debt, it said May 4.

So far this year its LNG has reached six new countries, bringing the total to 20 of the 39 LNG importing countries around the world. Latin America, the Middle East and Asia have been the chief destinations, with very little going to Europe. Poland is expecting its first US delivery in June, it said last month, which will be a cargo from Cheniere's own LNG supply position.

Midship Pipeline Company signed precedent agreements to support construction of a 200-mile interstate natural gas pipeline with expected capacity of 1bn ft³/d, to connect new production in the Anadarko Basin to Gulf Coast markets.

Sabine Pass Liquefaction ("SPL") commenced production and shipment of LNG commissioning cargoes from Train 3 of the SPL Project in January 2017. In March 2017, substantial completion was achieved and operating activities commenced.

Commissioning activities for Train 4 of the SPL Project began in March 2017.

William Powell