LNG terminal brings rising profits, revenues to Cheniere

Cheniere Energy said it significantly increased revenues and swung to a profit in the first quarter as its exports of liquefied natural gas grew.

The Houston company, which began exporting from is Sabine Pass terminal about a year ago, said its revenues rose to $1.2 billion from $69 million a year earlier and its profits rose to $54 million from a $321 million loss in the first quarter of last year.

As of April, the Sabine Pass terminal had delivered LNG to 20 of the 39 LNG importing countries around the world. The company is also expanding its terminal in Corpus Christi, where it acquired 500 acres surrounding the project inland and on the waterfront.