Cheniere Energy reported robust first-quarter results, generating $5.9 billion in revenue, $2.3 billion in adjusted EBITDA, and $1.7 billion in distributable cash flow. The company achieved a record export of 187 LNG cargoes amid geopolitical disruptions, notably the closure of the Strait of Hormuz and damage to QatarEnergy’s facility, which disrupted approximately 7 million tons of LNG supply per month, equating to about 100 cargoes.
Cheniere’s U.S.-based LNG portfolio positions it well in a tightening market, as it offers flexibility to redirect cargoes based on demand. The disruptions underscore the importance of reliable LNG sources, potentially enhancing Cheniere’s future contracting opportunities. The company currently serves over 35 creditworthy counterparties and is pursuing further capacity commercialization linked to its expansion plans.
Alongside Cheniere, Venture Global has a capacity of 68 MTPA with plans to reach 100 MTPA, having exported a record 130 cargoes in Q1 2026, and Chevron has significant exposure in Australia with Gorgon and Wheatstone projects, having capacities of 15.6 MTPA and 8.9 MTPA, respectively.
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