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Cheniere (LNG), Whistler JV to Construct Texas Gas Pipeline

·3 min read

Cheniere Energy, Inc. LNG and Whistler Pipeline have agreed to form a joint venture (JV) for the construction of the ADCC Pipeline. It is a 42-inch, intrastate pipeline that is anticipated to extend 43 miles from the terminus of Whistler Pipeline in Agua Dulce, TX to the Corpus Christi LNG terminal in Texas.

The pipeline project, which is subject to customary regulatory and other approvals, is planned to be commissioned in 2024. It is expected to transport up to 1.7 billion cubic feet per day of (Bcf/d) natural gas and will be expandable to 2.5Bcf/d of natural gas.

Moreover, the project involves the installation of three new compressor stations. These are planned to be commissioned in September 2023.

The development comes at a time when demand for U.S. liquefied natural gas (LNG) from Europe has skyrocketed as a result of Europe hustling to find alternatives to Russian gas.

Backed by MPLX LP MPLX, Whistler Pipeline is a 450-mile, 42-inch intrastate pipeline. It transports natural gas from the Waha Header in the Permian Basin to Agua Dulce, TX, providing a straight route to South Texas and export markets.

Findlay, OH-based MPLX LP is a master limited partnership engaged in providing a wide range of midstream energy services, including fuel distribution solutions. The large-cap partnership was created in 2012 to own, operate and develop midstream energy infrastructure and logistics assets.

Cheniere Energy Inc., the Houston, TX-based LNG company, is primarily engaged in businesses related to LNG through its two business segments — LNG terminal and LNG and natural gas marketing. The company, through its controlling interest in Cheniere Energy Partners L.P., owns and operates the Sabine Pass LNG terminal in Louisiana — North America’s first large-scale liquefied gas export facility.

Cheniere currently carries a Zacks Rank #2 (Buy). Some other top-ranked stocks from the energy space that warrant a look include Earthstone Energy ESTE and Civitas Resources CIVI, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Earthstone’s 2022 earnings stands at $5.85 per share, indicating an increase of about 368% from the year-ago earnings of $1.25.

ESTE beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being around 27%.

The Zacks Consensus Estimate for Civitas’ 2022 earnings stands at $14.35 per share, indicating an increase of about 389.8% from the year-ago figure of $2.93.

The consensus mark for CIVI’s 2022 earnings has been revised upward by about 7.5% over the past 60 days from $13.55 to $14.35 per share.


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