Cheniere Energy, Inc. (NYSE: LNG) shares collapsed in price Tuesday, as the company today celebrates the 10th anniversary of its first export cargo of liquefied natural gas.
On February 24, 2016, Cheniere loaded the Asia Vision with LNG produced at its Sabine Pass Liquefaction terminal in Cameron Parish, Louisiana.
“The Cheniere-chartered vessel departed the terminal at 7:25 p.m. local time,” read this morning’s news release, “ushering in a new era for Cheniere, as well as for domestic and global energy markets, marking the first commercial LNG cargo exported from the U.S. lower 48 states.”
Cheniere boasts a status as the largest producer of LNG in the U.S. and a global energy leader that is growing to help meet the world’s ever-increasing energy demand. The U.S. has since emerged as the world’s top LNG supplier.
“A decade ago, we started something transformative – producing and exporting LNG at scale from the U.S. Gulf Coast,” said CEO Jack Fusco. “Ten years and nearly 5,000 cargoes later, we continue to lead the way, and our commitment to safety, our people, customers and communities is stronger than ever.”
Cheniere has committed more than $50 billion to build and expand its two Gulf Coast liquefaction terminals. These facilities today deliver a combined LNG production capacity of over 50 million tonnes per annum which is expected to grow to over 60 mtpa by late 2028.
LNG shares dropped $5.40, or 2.4%, to $217.95.
