Cheniere(LNG) - 2025 Q1 - Quarterly Report

Production Capacity - Cheniere's total production capacity is expected to exceed 55 mtpa upon completion of over 8 mtpa currently under construction[120]. - The Sabine Pass LNG Terminal has a total production capacity of approximately 30 mtpa and regasification capacity of approximately 4 Bcf/d[121]. - The Corpus Christi LNG Terminal has a total expected production capacity of over 25 mtpa, with over 8 mtpa currently under construction[125]. - The CCL Midscale Trains 8 & 9 Project is expected to have a total production capacity of approximately 3 mtpa, with a target FID in 2025[130]. - The SPL Expansion Project is anticipated to have a total production capacity of up to approximately 20 mtpa, with a target FID in 2026/2027[130]. - The Corpus Christi Stage 3 Project is expected to add over 10 million tonnes per annum (mtpa) of operational liquefaction capacity once all seven Trains reach substantial completion[149]. - The Corpus Christi Stage 3 Project achieved an overall completion percentage of 82.5%, with engineering at 98.2% and procurement at 99.8% as of March 31, 2025[154]. - The company expects substantial completion of the remaining Trains of the Corpus Christi Stage 3 Project between 1H 2025 and 2H 2026[154]. Contractual Agreements - Approximately 95% of the total anticipated production from the SPL Project and the CCL Project is contracted through long-term agreements with an average remaining life of about 15 years[126]. - The company aims to contract approximately 80-90% of its current and planned liquefaction capacity under long-term agreements[127]. Financial Performance - Total revenues for the three months ended March 31, 2025, were $5,444 million, an increase of$1,191 million compared to $4,253 million in the same period of 2024[135]. - LNG revenues increased to$5,305 million for the three months ended March 31, 2025, up $1,268 million from$4,037 million in the prior year[137]. - Net income attributable to Cheniere for the three months ended March 31, 2025, was $353 million, a decrease of$149 million compared to $502 million in the same period of 2024[139]. - Net cash provided by operating activities for the three months ended March 31, 2025, was$1,228 million, a decrease from $1,246 million in the same period of 2024[157]. - The company experienced a net cash used in financing activities of$997 million for the three months ended March 31, 2025, compared to $264 million in 2024[160]. Shareholder Returns - The company repurchased approximately 1.6 million shares of common stock for approximately$350 million during the three months ended March 31, 2025[134]. - A dividend of $0.500 per share was paid for a total of$112 million during the three months ended March 31, 2025, compared to $0.435 per share for a total of$105 million in 2024[164]. - The company repurchased approximately 1.6 million shares of common stock for $350 million during the three months ended March 31, 2025, with$3.5 billion remaining under the share repurchase program[163]. Liquidity and Capital Allocation - Total available liquidity as of March 31, 2025, was $10,553 million, including cash and cash equivalents of$2,511 million and available commitments under credit facilities of $7,685 million[151]. - Cheniere's capital allocation plan focuses on financially disciplined growth and achieving value-accretive returns[127]. Tax and Regulatory Matters - The effective tax rate increased to 15.3$94 million in cash and cash equivalents and $80 million in restricted cash and cash equivalents[152]. - Investing cash outflows for the Corpus Christi Stage 3 Project were$321 million for the three months ended March 31, 2025, compared to $509 million in 2024, reflecting a$188 million decrease[159]. - The fair value of Liquefaction Supply Derivatives was $(1,403) million as of March 31, 2025, reflecting a change in fair value of$(742) million from December 31, 2024[167].