Cheniere Energy (NYSE:LNG)
LNG stock surged after Cheniere Energy (NYSE:LNG) and Cheniere Energy Partners (NYSE:CQP) announced the promotion of Corey Grindal to the executive vice president and chief operating officer position starting January 2, 2023.
Grindal will be in charge of Cheniere’s Operations, Engineering and Construction, Shared Services, and Worldwide Trading departments now that he has been promoted to the position of executive vice president and chief operating officer.
Even in his new position in Cheniere Energy (NYSE:LNG), he will still report to Jack Fusco, the company’s president, and CEO.
In addition to that, he will continue to hold the same position at Cheniere Partners.
Grindal is going to move his family back to Houston from London, where he has been working as executive vice president of worldwide trading since 2020.
Cheniere Energy (NYSE:LNG) and Whistler Pipeline announced on Monday that they will move forward with the construction of the ADCC Pipeline, a new joint venture pipeline that is expected to extend 43 miles from the terminus of the Whistler Pipeline to Cheniere’s Corpus Christi liquefaction facility in Texas. LNG stock is publicly traded on the New York Stock Exchange (NYSE).
The ADCC Pipeline is scheduled to transport up to 1.7 billion cubic feet of natural gas per day and has the capacity to increase to 2.5 billion cubic feet per day. It is predicted that service will commence in 2024, pending the receipt of regulatory and other permits.
The Whistler Pipeline is an intrastate pipeline that stretches 450 miles and has a 42-inch diameter. LNG stock does business in transporting natural gas from the Waha Header in the Permian Basin to Agua Dulce, Texas, and provides direct access to South Texas and export markets. The Whistler Pipeline is owned by a consortium that includes MPLX (MPLX).
LNG Stock Guidance
LNG stock gained after recently increased its guidance to reflect changes in the expected timing of cargoes into 2022 from 2023. The company anticipates full-year adjusted EBITDA in the range of $11 billion to $11.5 billion, an increase from its previous outlook of $9.8 billion to 10.3 billion.
Featured Image- Megapixl @ Timonschneider