Cheniere Energy

Cheniere Energy, Inc. is a liquefied natural gas (LNG) company headquartered in Houston, Texas. In February 2016 it became the first US company to export liquefied natural gas.[3] As of 2018 it is a Fortune 500 company.[2]

Cheniere Energy, Inc.
TypePublic
NYSE: LNG
Russell 1000 Index component
IndustryEnergy Natural Gas
Founded1996[1]
FoundersCharif Souki
HeadquartersHouston, Texas
Key people
CEO: Jack Fusco[2]
Websitewww.cheniere.com

Company history

The company was founded in 1996 by Charif Souki, an immigrant from Lebanon. Initially an oil-and-gas exploration company, Souki shifted its focus in the early 2000s to developing liquified natural gas terminals, beginning with a terminal in Sabine Pass, Louisiana in March 2005.[4] The company faltered in the late 2000s as LNG imports dried up due to international competition.[5] However, in the late 2010s, as natural gas production rose in the United States, the company grew significantly and became an exporter of LNG to international markets.[6] In 2016 Souki left the company after what he characterized as a dispute with investor Carl Icahn.[7]

In 2018 Cheniere Energy signed an agreement with CPC Corporation, Taiwan to supply liquefied natural gas for 25 years in a contract worth approximately USD25b. Deliveries to Taiwan are set to begin in 2021.[8]

References
  1. "Cheniere Energy". Forbes.
  2. "Cheniere Energy". Fortune. Fortune. Retrieved 18 February 2019.
  3. Chapa, Sergio (15 November 2018). "Cheniere Energy kicks off production at Corpus Christi LNG export terminal". Houston Chronicle. Retrieved 18 February 2019.
  4. Helman, Christopher (20 June 2005). "First Mover". Forbes. Retrieved 18 February 2019.
  5. Krauss, Clifford (29 May 2008). "Global Demand Squeezing Natural Gas Supply". New York Times. Retrieved 18 February 2019.
  6. Schwartz, Nelson (16 October 2017). "How Cheniere Energy Decided to Take a Gamble on Liquified Natural Gas". New York Times. Retrieved 18 February 2019.
  7. Stevensen, Abigail. "Charif Souki: Carl Icahn behind my Cheniere departure". www.cnbc.com. CNBC. Retrieved 10 March 2020.
  8. Julie Gordon and Henning Gloystein, Jess Macy Yu. "Cheniere signs 25-year LNG sales deal with Taiwan's CPC". www.reuters.com. Reuters. Retrieved 23 June 2019.
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