Cheniere Energy (NYSE: LNG), the biggest U.S. LNG exporter, booked higher revenues for the first quarter compared to a year earlier as demand for American LNG continues to grow and natural gas prices have strengthened.

Cheniere Energy reported on Thursday $5.3 billion in total LNG revenues for the first quarter, up from $4.04 billion for the same period of 2024.                          

The U.S. LNG exporter attributed the $1.2-billion increase in revenues primarily to a $725 million jump in revenues thanks to higher Henry Hub pricing, to which the majority of Cheniere’s long-term LNG sales contracts are indexed. Another $428 million increase in revenues was generated by Cheniere’s integrated marketing function under short-term agreements due to an increase in volumes sold at higher prices amid higher international LNG and natural gas prices.

Net income attributable to Cheniere fell to $353 million for the first quarter, down from $502 million for the same period of 2024, due to losses in derivative instruments. Another factor weighing on the net income was lower sublease income from LNG vessels, due to fewer days the LNG vessels were subleased and at lower rates in the current year as compared to the same period of 2024.

The higher LNG revenues, however, highlighted the growing demand for America’s liquefied natural gas over the past year.

U.S. LNG exports jumped by 20% between January and April from a year earlier as buying activity in Europe remained strong amid a cold winter and low gas inventory levels.

U.S. LNG shipments hit a record high for the January-April period of 34.6 million metric tons, according to data from Kpler cited by Reuters columnist Gavin Maguire.

For most of the past winter, European benchmark gas prices were higher than Asian spot LNG prices for delivery into north Asia, attracting more cargoes to European import terminals. Additionally, LNG demand in China and the rest of Asia has been tepid at best, which has helped Europe as competition for cargoes hasn’t been as fierce as in previous years.

By Tsvetana Paraskova for Oilprice.com