* Cheniere's Asian customers seek LNG amid Middle East
supply cuts
* Fusco emphasizes safety and reliability despite high
demand
* Cheniere expects LNG growth from Asia, despite market
shocks
(Rewrites throughout)
By Curtis Williams
HOUSTON, March 25 (Reuters) - U.S. LNG exporter Cheniere
Energy's Asian customers are asking for more liquefied
natural gas amid the ongoing conflict in the Middle East that
has cut supplies from Qatar, CEO Jack Fusco told the CERAWeek
conference in Houston on Wednesday, adding that his company is
already running at full capacity.
Fusco said he is hopeful Cheniere can start commercial
operations at its Train 5 expansion at Corpus Christi,
Louisiana, by Friday to get more cargoes to Asia.
QatarEnergy was producing 20% of the world's LNG, but its
plants have been shut as a result of the U.S.-Israeli war with
Iran and sustained damage from airstrikes. The company said it
could lose 17% of its present supply for up to five years.
Fusco said the last set of cargoes from QatarEnergy has
arrived in Asia and there was no clear sense of when Qatar, the
world's second-largest LNG exporter, would resume operations.
Customers, meanwhile, are seeking more supplies from the U.S.
"We are trying to do whatever we can do. We're looking at
our maintenance schedules really hard, but at the end of the
day, we have to be safe and we have to be reliable. We don't
want to sacrifice anything to get that last drop out," Fusco
said.
Europe remains the market of choice for Cheniere, Fusco
said, with 1,600 cargoes landed on the continent since the start
of Russia's invasion of Ukraine in 2022, but he expects LNG
growth will come from Asia.
Shocks to the LNG market are harmful to demand growth
because higher prices take some countries out of the market,
Fusco said, adding the latest conflict emphasized the need for
diversity of supply.
Cheniere is the largest U.S. LNG exporter. Last year the
company exported 46 million metric tons of the superchilled gas
and expects to export 52 million tons in 2026.