Cheniere Energy Stock In Spotlight After Announcing LNG Production From Key Project: Retail On Wait-And-Watch Mode

Cheniere said it expects Corpus Christi Stage 3 Liquefaction Project's Train 1 to be substantially completed by the end of the first quarter of 2025, over six months ahead of the guaranteed completion date.

Liquefied natural gas producer and the largest U.S. exporter of LNG Cheniere Energy Inc (LNG) said on Monday that the first train (Train 1) of the firm’s Corpus Christi Stage 3 Liquefaction Project (CCL Stage 3) witnessed its first liquefied natural gas (LNG) production.

The firm’s shares rose by 0.4% in Friday’s pre-market trade.

Cheniere said it expects substantial completion of Train 1 by the end of the first quarter of 2025, over six months ahead of the guaranteed completion date. Once that is achieved, Bechtel Energy, Inc. will transfer care, custody, and control of the completed train to Cheniere, it said.

CCL Stage 3 project comprises seven midscale trains, with an expected total production capacity of over 10 million tonnes per annum (mtpa) of LNG. Cheniere said that as of Nov. 30, 2024, the overall project completion stood at 75.9%.

Once all seven trains of CCL Stage 3 are substantially completed, the project's expected total production capacity will be over 25 mtpa of LNG.

Despite the news, retail sentiment on Stocktwits continued to trend in the ‘neutral’ territory (47/100) compared to a week ago.

Recently, analysts hiked their price target on Cheniere stock with expectations of a rise in LNG prices.

According to TheFly, Wells Fargo hiked its price target on the stock to $235 from $213 while keeping an ‘Overweight’ rating. The brokerage is bullish on the natural gas data center theme but remains cautious on midstream in 2025 because of valuations and range-bound commodity price expectations.

Stifel raised its price target on the shares to $237 from $204 while keeping a ‘Buy’ rating. The brokerage expects further upward pressure on LNG prices through the winter.

Notably, shares of Cheniere Energy have gained over 24% since the beginning of the year.

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