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Cheniere Energy Inc LNG

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Cheniere Reports Strong Third Quarter, Boosts Run-Rate Guidance Again

Stephen Ellis Sector Strategist

Analyst Note

| Stephen Ellis |

Cheniere reported a good third quarter, in our view, as it heads into the winter season and higher expected liquefied natural gas demand. 2020 EBITDA guidance is unchanged at $3.8 billion-$4.1 billion, but we expect results closer to the low end of the range at $3.8 billion due primarily to weak marketing margins. Management introduced 2021 EBITDA guidance of $3.9 billion-$4.2 billion, and our $4.1 billion estimate falls solidly within that range. The bulk of the improvement reflects the startup of Corpus Christi Train 3 during the year.

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Company Profile

Business Description

Cheniere Energy owns and operates the Sabine Pass liquefied natural gas terminal via its stake in Cheniere Partners. It also owns the under-development Corpus Christi LNG terminals as well as Cheniere Marketing, which markets LNG using Cheniere's gas volumes.

700 Milam Street, Suite 1900
Houston, TX, 77002
T +1 713 375-5000
Sector Energy
Industry Oil & Gas Midstream
Most Recent Earnings Sep 30, 2020
Fiscal Year End Dec 31, 2020
Stock Type Hard Assets
Employees 1,530