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Cheniere's Corpus Christi Train 2 to Come Online in May, 2020

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Cheniere Energy, Inc. (LNG - Free Report) recently achieved a major milestone with the substantial completion of the construction of Train 2 at its Corpus Christi Liquefaction (CCL) project in Texas on Aug 28. Trains are basically used by LNG plants to liquefy natural gas so that it can be transported on ships. Cheniere’s engineering and chemical partner Bechtel Oil, Gas and Chemicals, Inc. has handed over Train 2’s custody to Cheniere.

Notably, the company had dispatched the first cargo from its CCL project on Dec 11, 2018. Under the same, it intends to develop three trains, each having a nominal production capacity of 4.5 million metric tons of liquefied natural gas (LNG - Free Report) per year. While Train 1 came online earlier this year, Train 2 will be operational in May next year and Train 3, which is under construction, is scheduled to get ready in 2021.

Apart from CCL, Cheniere currently operates five trains at its Sabine Pass in Louisiana. It further announced plans of building its sixth train that will enhance its production volume to 27 metric tons per annum (mtpa) of LNG. Altogether, Cheniere with its engineering partner Bechtel has built seven liquefaction trains ahead of schedule within the project’s spending plan.

With the commencement of its first commercial delivery through its second CCL train in May, 2020, this Houston-based company will ferry LNG to Électricité de France, S.A., Iberdrola, S.A., Naturgy Energy Group S.A., PT Pertamina (Persero), and Woodside Energy Trading Singapore Pte Ltd.

The first LNG exporter of the United States plans to construct seven smaller trains neighboring Corpus Christi Bay across 1,000 acres terrain. Each train is expected to own a production capacity of 9.5 mtpa. The first smaller train is estimated to be accessible in 2022.

Zacks Rank & Key Picks

Cheniere Energy carries a Zacks Rank #3 (Hold). Better-ranked players in the energy space include BP Midstream Partners , Dril-Quip, Inc. (DRQ - Free Report) and World Fuel Services Corporation , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

BP Midstream’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters.

Dril-Quip earnings beat the Zacks Consensus Estimate in three of the previous four quarters.

World Fuel Services earnings beat the Zacks Consensus Estimate in all the last four quarters.

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