Corpus Christi LNG exports first cargo

The Corpus Christi LNG terminal in Texas today exported its first cargo, becoming the third operating major LNG export facility in the US, owner Cheniere Energy said.

The cargo was loaded on the Cheniere-chartered Maria Energy LNG vessel, which has capacity of 174,000m³, equivalent to 3.6 Bcf (102mn m³) of gas. The ship has not yet listed a destination and Cheniere did not say where it is going.

Netbacks for US Gulf coast LNG exports currently favor Europe, but last week netbacks to Europe and North Asia were roughly equal.

"Exporting the first commissioning cargo of LNG from Texas demonstrates Cheniere's ability to deliver projects safely and ahead of schedule, including the first greenfield LNG export facility in the lower 48 states," Cheniere chief executive Jack Fusco said.

Cheniere expects to export five to seven test cargoes each from the first liquefaction train at Corpus Christi and the fifth liquefaction train at its Sabine Pass LNG terminal in Louisiana before placing both units into long-term service in the first quarter of 2019.

Each train that Cheniere has completed or is building at Corpus Christi and Sabine Pass has peak production of 5mn t/yr, equivalent to 689mn cf/d of gas. Each train would typically produce a full LNG cargo in about five to seven days if it is operating at or near capacity.

The second train at the three-train Corpus Christi terminal is expected to start long-term operations in the second half of 2019, and the third train in 2021.

Gas feed at Corpus Christi has averaged 504mn cf/d since 4 December, after averaging 373mn cf/d on 23 November-3 December and 56mn cf/d on 19 October-22 November.