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Cheniere Energy's second-quarter profit falls on lower natgas prices
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Cheniere Energy's second-quarter profit falls on lower natgas prices
Aug 8, 2024 3:46 AM

Aug 8 (Reuters) - Cheniere Energy reported an

about 36% fall in second-quarter profit on Thursday, hurt by

lower natgas prices and liquefied natural gas (LNG) margins.

Natural gas prices fell in the second quarter from a year

earlier, hurt by high inventories and lower demand forecasts.

The company said the fall was due to declining international

LNG and gas prices, and a reduction of volumes sold under

short-term agreements as a higher proportion of its LNG was sold

under long-term contracts.

Its LNG revenue was down at $3.04 billion in the quarter

ended June 30, compared with $3.92 billion a year ago.

The company reported net income attributable to Cheniere of

$880 million, down from $1.37 billion a year earlier.

(Reporting by Tanay Dhumal in Bengaluru; Editing by Shinjini

Ganguli)

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