Cheniere's Q2 profit buoyed by huge increase in fees from cancelled LNG cargoes

摘要

CLARIFICATION: After this article was published, Cheniere CFO Zach Davis said on the Q2 earnings call that “about 50 cargoes” were cancelled by customers in the quarter. Cheniere Energy saw a dramatic spike in revenue from cancelled LNG cargoes in the second quarter that helped lift the US LNG exporter to its third consecutive quarterly profit, in Q2'20 results released today. Customers paid Cheniere USD 708 million over April-June for cancellations, a 13-fold increase on the prior quarter. This suggests as many as 67 LNG cargoes were turned down in the period, according to calculations by Gas Matters Today.