Cheniere Energy’s annual LNG revenue falls on lower natgas prices

By Thomson Reuters Feb 22, 2024 | 5:27 AM

(Reuters) -U.S. liquefied natural gas (LNG) company Cheniere Energy posted a 38.5% fall in its full-year LNG revenue on Thursday, hurt by a fall in natgas prices.

Average U.S. natural gas prices fell nearly 40% in 2023, dragged by record production, ample inventories in storage and relatively mild weather conditions, pressuring prices for LNG firms such as Cheniere.

The company said LNG volumes loaded for the reported year rose to 2,299 trillion British thermal unit (TBtu), compared with 2,295 TBtu last year.

It reported LNG revenues of $19.56 billion for the full year ended Dec. 31, compared with $31.8 billion in 2022.

(Reporting by Tanay Dhumal in Bengaluru; Editing by Devika Syamnath)