RBC Raises Cheniere Forecasts Amid Tight Global LNG Market
RBC Capital Markets has raised its forecasts for Cheniere Energy's liquefied natural gas (LNG) exports, citing new capacity and a tight global market that could sustain cash flows.
The investment bank expects Cheniere's next leg of growth to be driven by volume and reliability, rather than a one-off spike in gas prices. RBC points to increased output from the Corpus Christi facility as new capacity ramps up, along with operational improvements such as better plant uptime and shorter maintenance outages.
The bank also highlights Cheniere's destination-flexible contracts, which allow it to redirect cargoes to markets offering higher prices and capture price differences between regions. RBC sees global LNG supply staying tight after lower exports from Qatar and the United Arab Emirates, creating opportunities for Cheniere to capitalize on these gaps.
RBC has lifted its adjusted EBITDA estimates to $8.25 billion for 2026 and $7.90 billion for 2027, and raised its price target to $319 from $300, with Cheniere's stock trading at around $277.65.