US LNG exporting giant Cheniere has achieved substantial completion of the third liquefaction train at the Corpus Christi Stage 3 expansion project in Texas.
Cheniere said in its third-quarter results report that the completion was achieved in October.
This follows the substantial completion of the first liquefaction train in March this year, ahead of schedule, and the company’s completion of the second liquefaction train in August.
In addition, Cheniere is moving forward with commissioning activities at the fourth train of the Corpus Christi Stage 3 expansion project in Texas.
Cheniere said in the report it expects first LNG from Train 4 in November 2025 and substantial completion “around year-end 2025 or early 2026.”
According to Cheniere, Trains 5 – 7 are scheduled to reach substantial completion throughout 2026.
Cheniere made the final investment decision on the Corpus Christi Stage 3 expansion project, worth about $8 billion, in June 2022.
Moreover, Bechtel officially started construction on the project in October of the same year.
The project includes building seven midscale trains, each with an expected liquefaction capacity of about 1.49 mtpa.
Further expansion
Cheniere made a positive final investment decision to build two more midscale trains at its Corpus Christi LNG plant in June this year.
The CCL midscale trains 8 and 9 project is being built adjacent to the Corpus Christi Stage 3 project and consists of two midscale trains with an expected total liquefaction capacity of over mtpa of LNG and other debottlenecking infrastructure.
Upon completion of the project, and together with expected debottlenecking and CCL Stage 3, the Corpus Christi LNG terminal is expected to reach over 30 mtpa in total liquefaction capacity later this decade.
Cheniere said in the quarterly report that the CCL midscale trains 8 and 9 project is approximately 21 percent complete, with site preparation and piling activities ongoing.
The LNG exporter noted that procurement is progressing on schedule with permanent equipment and materials on order.
In addition to this expansion, Cheniere received approval from the US FERC to initiate the environmental pre-filing review for its Corpus Christi Liquefaction Stage 4 project.
The trains will have a peak production capacity of approximately 24 mtpa of LNG.
Revenue climbs
Cheniere reported year-over-year increases in both its third-quarter revenue and net profit.
The owner of the Sabine Pass and Corpus Christi LNG export terminals said its revenue reached $4.44 billion in the third quarter.
This compares to $3.76 billion in the third quarter last year and $4.64 billion in the prior quarter.
Cheniere’s net income was $1.05 billion in the third quarter, a rise of 17 percent year-on-year.
Cheniere’s net income increased approximately $156 million and $753 million for the three and nine months ended September 30, 2025, respectively, as compared to the corresponding 2024 periods.
According to the firm, the increases were primarily attributable to approximately $69 million and $665 million of favorable variances related to changes in fair value of our derivative instruments, including those impacts related to Cheniere’s long-term integrated production marketing agreements (before tax and non-controlling interests) for the three and nine months ended September 30, respectively.
Cheniere is maintaining full-year 2025 consolidated adjusted Ebitda guidance of $6.6 billion – $7 billion and raising full-year 2025 distributable cash flow guidance from $4.4 billion – $4.8 billion to $4.8 billion – $5.2 billion.
For the third quarter, Cheniere increased its quarterly dividend by over 10 percent from the prior quarter to $0.555 per share of common stock.
163 LNG cargoes
Cheniere exported 163 LNG cargoes during the third quarter, up by five cargoes compared to the same period last year.
During January-September 2025, the company exported 485 LNG cargoes, six more compared to 2024.
Most of these volumes landed in Europe.
The company’s loaded LNG volumes reached 586 trillion British thermal units in the third quarter, up from 568 TBtu in the same quarter last year.
In the nine-month period, the company’s loaded LNG volumes reached 1,744 TBtu, a rise compared to 1,721 TBtu in the same period last year.
Cheniera also noted that it had achieved a single-day cumulative LNG production record in October. (October 30, 2025, Source: https://lngprime.com/americas/cheniere-completes-third-train-at-corpus-christi-lng-expansion-project/167523/)
UNITED STATES - LNG - SUPPLIES - IMPORTS - EXPORTS