Cheniere Energy Inc
For the period ended Mar 31, 2024. Filed May 3, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 3, 2024
Contents
Overview of Significant Events
Our significant events since January 1, 2024 and through the filing date of this Form 10-Q include the following:
Strategic
In February 2024, certain subsidiaries of CQP submitted an application to the FERC under the NGA for authorization to site, construct and operate the SPL Expansion Project, as well as an application to the DOE requesting authorization to export LNG to FTA countries and non-FTA countries, both of which applications exclude debottlenecking.
Operational
As of April 25, 2024, over 3,400 cumulative LNG cargoes totaling over 230 million tonnes of LNG have been produced, loaded and exported from the Liquefaction Projects.
Financial
In March 2024, Cheniere issued $1.5 billion aggregate principal amount of 5.650% Senior Notes due 2034 (the“2034 Cheniere Senior Notes”). The net proceeds from the 2034 Cheniere Senior Notes, together with cash on hand, were used in April 2024 to retire the approximately $1.5 billion outstanding aggregate principal amount of CCH’s 5.875% Senior Secured Notes due 2025 (the“2025 CCH Senior Notes”).
During the three months ended March 31, 2024, we accomplished the following pursuant to our capital allocation priorities:
We repurchased approximately 7.5 million shares of our common stock as part of our share repurchase program for approximately $1.2 billion.
SPL prepaid $150 million of outstanding aggregate principal amount of its 5.750% Senior Secured Notes due 2024.
We paid a dividend of $0.435 per share of common stock.
We continued to invest in accretive organic growth, including our investment in the Corpus Christi Stage 3 Project, as further described under Investing Cash Flows in Sources and Uses of Cash within Liquidity and Capital Resources.
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