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ATHENS, Greece, Sept. 08, 2026 (GLOBE NEWSWIRE) -- Dynagas LNG Partners LP (NYSE: DLNG) (the “Partnership”), an owner of liquefied natural gas (“LNG”) carriers, today announced its results for the three and six months ended June 30, 2026.

Half year Highlights:

Net Income and Earnings per common unit (basic and diluted) of $33.4 million and $0.82, respectively;Adjusted Net Income(1) of $28.2 million and Adjusted Earnings per common unit(1) (basic and diluted) of $0.68;Adjusted EBITDA(1) of $51.9 million; and95.7% fleet utilization(2). Quarter Highlights:

Net Income and Earnings per common unit (basic and diluted) of $16.0 million and $0.39, respectively;Adjusted Net Income(1) of $15.8 million and Adjusted Earnings per common unit(1) (basic and diluted) of $0.39;Adjusted EBITDA(1) of $27.6 million;96.2% fleet utilization(2);The Clean Energy was delivered under its new time charter party agreement with Rio Grande LNG, LLC (“Rio Grande”) in April 2026;Declared and paid a cash distribution of $0.5625 per unit on the Partnership’s Series A Preferred Units (NYSE: DLNG PR A) for the period from February 12, 2026 to May 11, 2026; andDeclared a quarterly cash distribution of $0.050 per common unit for the quarter ended March 31, 2026, which was paid on May 22, 2026, to all common unitholders of record as of May 18, 2026.
(1) Adjusted Net Income, Adjusted Earnings per common unit and Adjusted EBITDA are not recognized measures under U.S. GAAP. Please refer to Appendix B of this press release for the definitions and reconciliation of these measures to the most directly comparable financial measures calculated and presented in accordance with U.S. GAAP and other related information.
(2) Please refer to Appendix B for additional information on how the Partnership calculates fleet utilization.

Recent Events: 

Declared a quarterly cash distribution of $0.5625 per unit on the Partnership’s Series A Preferred Units for the period from May 12, 2026 to August 11, 2026, which was paid on August 12, 2026 to all Series A Preferred unitholders of record as of August 5, 2026; andDeclared a quarterly cash distribution of $0.050 per common unit for the quarter ended June 30, 2026, which was paid on August 28, 2026 to all common unitholders of record as of August 24, 2026. CEO Commentary:

“The Partnership delivered a solid second quarter, reporting Net Income of $16.0 million, Adjusted Net Income of $15.8 million and Adjusted EBITDA of $27.6 million, on fleet utilization of 96.2%. Our results reflect the commencement in April of the Clean Energy's new time charter with Rio Grande at an improved rate, and a lower cost of debt following continued deleveraging, with net interest and finance costs down 26.9% year on year.

The Partnership's contract coverage continues to deliver predictable cash generation. As of the date of this release, our estimated contracted revenue backlog stands at $0.73 billion with an average remaining contract term of 4.4 years, and we have contracted time charter coverage of 100%, 100% and 65% of estimated Available Days for 2026, 2027 and 2028, respectively. That backlog, together with our existing cash, gives us the financial flexibility to continue amortizing our debt while returning capital to our common and preferred unitholders.

On the regulatory front, the E.U.'s 21st sanctions package, adopted on July 23, 2026, provides an exemption of the Russian LNG ban to transfers destined for third countries under legacy long-term contracts concluded before February 24, 2022. We believe the transportation of LNG under our two charters with Yamal Trade Pte. Ltd. to destinations outside the E.U. falls within this exemption and, accordingly, outside the scope of the EU LNG ban.

For a fuller description of both the E.U. and U.K. measures and their potential impact on us, please refer to the section of this press release entitled 'Russian Sanctions Developments'.”

Financial Results Overview:

 Three Months EndedSix Months Ended(U.S. dollars in thousands, except per unit data) June 30, 2026
(unaudited) June 30, 2025
(unaudited) June 30, 2026
(unaudited) June 30, 2025
(unaudited)Voyage revenues$41,188$38,613$81,126$77,720Net Income$15,957$13,709$33,383$27,279Adjusted Net Income (1)$15,811$14,463$28,190$28,779Operating income$19,819$19,176$36,329$37,721Adjusted EBITDA (1)$27,642$27,687$51,901$54,775Earnings per common unit$0.39$0.23$0.82$0.52Adjusted Earnings per common unit (1)$0.39$0.25$0.68$0.56 (1) Adjusted Net Income, Adjusted EBITDA and Adjusted Earnings per common unit are not recognized measures under U.S. GAAP. Please refer to Appendix B of this press release for the definitions and reconciliation of these measures to the most directly comparable financial measures calculated and presented in accordance with U.S. GAAP and other related information.

Three Months Ended June 30, 2026 and 2025 Financial Results

Net Income for the three months ended June 30, 2026 was $16.0 million as compared to $13.7 million for the corresponding period in 2025, which represents an increase of $2.3 million, or 16.8%. The increase in Net Income for the three months ended June 30, 2026 compared to the corresponding quarter of 2025 was mainly attributable to: (a) the increase in Voyage revenues, (b) the decrease in Net Interest and finance costs, and (c) the Other operating revenues from related party which relate to the monetization of FuelEU compliance surplus realized in April 2026 pursuant to the transfer of the FuelEU compliance surplus generated by the Arctic Aurora through a pooling agreement (the "Pooling Agreement"). The Pooling Agreement was entered into by the Partnership and other vessel-owning companies who share common ultimate beneficial ownership with the Partnership’s sponsor, Dynagas Holding Ltd. The above increase was partially offset by the increase in Voyage expenses and Vessel operating expenses.

Adjusted Net Income (a non-GAAP financial measure) for the three months ended June 30, 2026 was $15.8 million, compared to $14.5 million for the corresponding period in 2025, which represents a net increase of $1.3 million, or 9%. This increase was mainly attributable to (a) the increase in cash revenues as explained below and (b) the increase in Other operating revenues as explained above, which was partially offset by (i) the lower time charter rate earned by the Arctic Aurora compared to the corresponding period in 2025 and (ii) the decrease in Net Interest and finance costs. The above increase in adjusted net income was partially counterbalanced by the increase in both Voyage expenses and Vessel operating expenses.

Voyage revenues for the three months ended June 30, 2026 were $41.2 million, compared to $38.6 million for the corresponding period in 2025, which represents a net increase of $2.6 million, or 6.7%. This increase was mainly attributable to: (a) the higher time charter rate earned by the Clean Energy under its new charter party with Rio Grande that commenced on April 30, 2026 and was partially offset by a period of 20.5 days off-hire incurred which underwent unscheduled maintenance between the vessel’s re-delivery by SEFE and its delivery to Rio Grande, (b) the increase in variable hire revenues earned under the OPEX pass-through time charters following an increase in Vessel operating expenses as explained below, and (c) the increase of the value of the EU ETS emissions allowances (“EUAs”) due to the Partnership by the charterers of its vessels as a result of the increase in the EU requirement for surrendering allowances for 100% of their verified emissions in 2026 against 70% in 2025, increased market prices and increased voyages to EU ports (the corresponding value of the abovementioned EUAs, which the Partnership is obliged to surrender to the EU authorities, is included within Voyage expenses, therefore the net effect of the EUAs to the Operating Income and Net Income is zero).

The Partnership reported average daily hire gross of commissions(3) of approximately $71,810 per day per vessel for the three-month period ended June 30, 2026, compared to approximately $70,730 per day per vessel for the corresponding period in 2025. The Partnership’s vessels operated at 96.2% and 99.4% fleet utilization during the three-month periods ended June 30, 2026 and 2025, respectively.

Vessel operating expenses were $8.9 million, which corresponds to a daily rate per vessel of $16,322 for the three-month period ended June 30, 2026, compared to $7.7 million, or a daily rate per vessel of $14,189, in the corresponding period in 2025. This increase was mainly attributable to increased crew expenses and increased scheduled engine maintenance costs. As mentioned above, a substantial part of the increase in Vessel operating expenses is counter-balanced by the corresponding increase in variable hire revenues earned on the Partnership’s vessels operating under OPEX pass-through time charters.

Adjusted EBITDA (a non-GAAP financial measure) for the three months ended June 30, 2026 was $27.6 million, compared to $27.7 million for the corresponding period in 2025. The decrease of $0.1 million, or 0.4%, was mainly attributable to the above-mentioned increase in Voyage expenses and Vessel operating expenses, which was partially offset by the increase in cash voyage revenues.

Net Interest and finance costs were $3.8 million in the three months ended June 30, 2026, compared to $5.2 million in the corresponding period in 2025, which represents a decrease of $1.4 million, or 26.9%, due to the reduction in interest-bearing debt and the decrease in market interest rates resulting in a weighted average interest rate from 6.49% in the three months ended June 30, 2025 to 5.90% in the three months ended June 30, 2026.

For the three months ended June 30, 2026, the Partnership reported both basic and diluted Earnings per common unit and Adjusted Earnings per common unit (a non-GAAP financial measure), of $0.39, after taking into account the distributions relating to the Series A Preferred Units on the Partnership’s Net Income/Adjusted Net Income. Earnings per common unit and Adjusted Earnings per common unit, basic and diluted, were calculated on the basis of a weighted average number of 36,382,011 common units outstanding during the period and in the case of Adjusted Earnings per common unit, after reflecting the impact of certain adjustments presented in Appendix B of this press release.

Adjusted Net Income, Adjusted EBITDA, and Adjusted Earnings per common unit are not recognized measures under U.S. GAAP. Please refer to Appendix B of this press release for the definitions and reconciliation of these measures to the most directly comparable financial measures calculated and presented in accordance with U.S. GAAP.

Amounts relating to variations in period-on-period comparisons shown in this section are derived from the condensed financial statements presented in Annex A hereto.

(3) Average daily hire gross of commissions is a non-GAAP financial measure and represents voyage revenue excluding the non-cash time charter deferred revenue amortization, as well as the revenues attributable to the value of the EUAs to be provided to the Partnership pursuant to the terms of its agreements with the charterers, divided by the Available Days in the Partnership’s fleet as described in Appendix B.

Liquidity/ Financing/ Cash Flow Coverage

During the three months ended June 30, 2026, the Partnership generated net cash from operating activities of $21.0 million, compared to $24.3 million in the corresponding period in 2025, which represents a decrease of $3.3 million, or 13.6%, mainly as a result of working capital changes.  

As of June 30, 2026, the Partnership reported total cash of $59.5 million. The Partnership’s outstanding financial liabilities as of June 30, 2026, under the Sale and Leaseback Agreements between the vessel owning companies of the Clean Energy, the OB River, the Amur River and the Arctic Aurora and China Development Bank Financial Leasing Co. Ltd. amounted to $36.5 million, $48.4 million, $49.7 million and $122.0 million, respectively, gross of unamortized deferred loan fees. The financial liabilities under the Sale and Leaseback Agreements are repayable within approximately three years for the Clean Energy, the OB River and the Amur River and within eight years for the Arctic Aurora.

Vessel Employment

As of September 8, 2026, the Partnership had estimated contracted time charter coverage(4) for 100%, 100% and 65% of its fleet estimated Available Days (as defined in Appendix B) for each of 2026, 2027 and 2028, respectively.

As of the same date, the Partnership’s estimated contracted revenue backlog (5) (6) was $0.73 billion, with an average remaining contract term of 4.4 years.        

(4) Time charter coverage for the Partnership’s fleet is calculated by dividing the fleet contracted days on the basis of the earliest estimated delivery and redelivery dates prescribed in the Partnership’s current time charter contracts, net of scheduled class survey repairs, by the number of expected Available Days during that period.

(5) The Partnership calculates its estimated contracted revenue backlog by multiplying the contractual daily hire rate by the expected number of days committed under the contracts (assuming earliest delivery and redelivery and excluding options to extend), assuming full utilization. The actual amount of revenues earned and the actual periods during which revenues are earned may differ from the amounts and periods disclosed due to, for example, the early termination or temporary suspension of charters, dry-docking and/or special survey downtime, maintenance projects, off-hire downtime and other factors that result in lower revenues than the Partnership’s estimated contract revenue backlog.

(6) $0.09 billion of the estimated contracted revenue backlog relates to the estimated portion of the hire contained in certain time charter contracts with Yamal Trade Pte. Ltd., which represents the operating expenses of the respective vessels and is subject to yearly adjustments on the basis of the actual operating costs incurred within each year. The actual amount of revenues earned in respect of such variable hire rate may therefore differ from the amounts included in the estimated contracted revenue backlog due to the yearly variations in the respective vessel’s operating costs.

Russian Sanctions Developments

Due to the ongoing Russian war with Ukraine, the United States (“U.S.”), the European Union (“E.U.”), the United Kingdom (the “U.K.”) and other countries and organizations have publicly announced and enacted extensive sanctions against Russia to impose severe economic pressure on the Russian economy and government.

On October 23, 2025, the E.U. adopted the 19th package of sanctions (the “19th Package”), which prohibits the purchase, import or transfer, directly or indirectly, by E.U. persons and non-E.U. persons with an E.U.-nexus, of LNG that originates in Russia or is exported from Russia (the “LNG Prohibition”). The LNG Prohibition applies from January 1, 2027 with respect to supply contracts with a duration exceeding one year (“Long Term Contracts”) that were executed before June 17, 2025 and that have not since been amended, other than by amendments falling within specified categories.

On July 23, 2026, the E.U. amended the 19th Package with the adoption of the 21st package of sanctions (the “21st Package”). The 21st Package introduced an exemption to the LNG Prohibition, initially until July 25, 2027, and thereafter for successive periods of one year, unless the Council of the E.U. (the “E.U. Council”), following an annual review, decides otherwise. The exemption applies to transfers of LNG destined for third countries, pursuant to Long Term Contracts that were executed before February 24, 2022 and that have not since been amended, other than by amendments falling within specified categories, provided that, the volume of LNG transferred each year under the relevant contract does not exceed the yearly volume of LNG transferred in 2025 under such contract (the “Legacy Contract Derogation”).

Separately, on May 20, 2026, the U.K. enacted the Russia (Sanctions) (EU Exit) (Amendment) Regulations 2026, which prohibit U.K. persons from providing or facilitating maritime transportation services for Russian-origin LNG, including carriage to third countries, subject to limited exceptions and licensing arrangements. The U.K. prohibition will apply beginning January 1, 2027 with respect to certain Long-Term Contracts that were executed before June 17, 2025 and that have not since been amended, other than by amendments falling within specified categories.

One of our charterers, Yamal Trade Pte. Ltd. (the “Charterer”), employs two of our vessels, the Yenisei River and Lena River, on existing Long Term Contracts that extend to 2033 and 2034, respectively (the “Yamal Charters”). These vessels, since commencement of the Yamal Charters, have been engaged in the transportation of LNG produced in Russia for discharge at destinations worldwide in compliance with applicable sanctions regulations.

We believe that the transportation of LNG under the Yamal Charters to destinations outside the E.U. currently falls within the Legacy Contract Derogation and, accordingly, are outside the scope of the LNG Prohibition. However, there can be no assurance that our interpretation of the Legacy Contract Derogation is correct, or that regulatory authorities or our counterparties will agree with our interpretation. Furthermore, there can be no assurance that the transportation of LNG under the Yamal Charters will continue to meet the requirements of the Legacy Contract Derogation, including with respect to the yearly volume limitation, or that the E.U. Council will not decide, following an annual review, to shorten or terminate the Legacy Contract Derogation, or that sanctions regulations will not be further implemented, amended, or expanded to restrict the transportation of Russian-origin LNG. These risks are outside of our control, and if one or more of these events were to occur, our vessels would be restricted from transporting LNG originating in or exported from Russia, which would affect the Charterer’s ability to continue employing the vessels in the manner currently conducted. Notwithstanding the foregoing, we believe the Yamal Charters would remain enforceable, however, the Charterer may not agree with our interpretation, which could result in disputes, non-performance, litigation or early termination of the Yamal Charters, among other things. In addition, sanctions may be extended, amended or interpreted in ways that require the early termination of the Yamal Charters, or give rise to rights of the Charterer, including the purchase option exercisable on a sanctions event described in our interim financial statements.

Furthermore, as a result of the U.K. regulations described above, we expect that we will be required to replace certain key service providers currently based in the U.K., with providers established outside the U.K. There can be no assurance that replacement services will be available on comparable terms, or at all. Any inability to obtain such services, or delay in obtaining them, could disrupt the operation of the affected vessels, result in additional costs or periods of off-hire or affect our ability to perform our obligations under the Yamal Charters or to comply with covenants in our debt agreements.

Our fleet consists of only six LNG carriers and we derive all of our revenues from a limited number of charterers. For the six-month period ended June 30, 2026, the Charterer accounted for 34.5% of our total revenues. The loss of revenue under either or both of the Yamal Charters would have a material adverse effect on our business, results of operations, financial condition and ability to make distributions to our unitholders, and could result in an event of default under our debt agreements.
Other than as described above in relation to the U.K. regulations, applicable U.S., U.K. and E.U. sanctions regimes that are in effect as of today’s date do not materially affect our business, operations or financial condition and, to our knowledge, our counterparties are currently performing their obligations under their respective time charters in compliance with such sanctions regulations. We closely monitor the applicability of sanctions regulations on us and our counterparties, and the potential impact of economic sanctions on our existing commercial arrangements, including the Yamal Charters. The full impact of the commercial and economic consequences of the Russian war with Ukraine is uncertain at this time. The E.U. and U.K. sanctions regulations described above or any further development in sanctions, or escalation of the Ukraine war and other geopolitical events and conflicts more generally may have a material adverse impact on our business, financial condition, results of operations, our ability to make distributions to unitholders or our ability to comply with the covenants in our debt agreements. Sanctions have been expanded over time and may continue to evolve and could ultimately restrict or prevent the performance of certain contractual obligations under our charters.

Please see the section of this press release entitled “Forward Looking Statements”. Please also see the risk factors we describe in our Annual Report on Form 20-F for the year ended December 31, 2025, including without limitation, the risk factors entitled “We currently derive all our revenue and cash flow from a limited number of charterers and the loss of any of these charterers could cause us to suffer losses or otherwise adversely affect our business,” “Any charter termination would likely have a material adverse effect on our business, financial condition, results of operations and cash flows,” “If our vessels call on ports located in countries or territories that are the subject of sanctions or embargoes imposed by the United States government or other governmental authorities, it could result in the imposition of monetary fines or penalties and adversely affect our reputation and the market for our securities” and “We may be subject to litigation that could have an adverse effect on us.”

Slide Presentation:

The slide presentation on the second quarter ended June 30, 2026 financial results will be available in PDF format, accessible on the Partnership’s website www.dynagaspartners.com.

About Dynagas LNG Partners LP

Dynagas LNG Partners LP. (NYSE: DLNG) is a master limited partnership that owns liquefied natural gas (LNG) carriers employed on multi-year charters. The Partnership’s current fleet consists of six LNG carriers, with an aggregate carrying capacity of approximately 914,000 cubic meters.

Visit the Partnership’s website at www.dynagaspartners.com. The Partnership’s website and its contents are not incorporated into and do not form a part of this release.

Contact Information:
Dynagas LNG Partners LP
Attention: Michael Gregos
Tel. +30 210 8917960
Email: [email protected] 

Investor Relations / Financial Media:
Nicolas Bornozis
Markella Kara
Capital Link, Inc.
230 Park Avenue, Suite 1540
New York, NY 10169
Tel. (212) 661-7566
E-mail: [email protected]

Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

The Partnership desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “plan,” “potential,” “project,” “will,” “may,” “should,” “expect,” “expected,” “pending” and similar expressions identify forward-looking statements. These forward-looking statements are not intended to give any assurance as to future results and should not be relied upon.

The forward-looking statements in this press release are based upon various assumptions and estimates, many of which are based, in turn, upon further assumptions, including without limitation, examination by the Partnership’s management of historical operating trends, data contained in its records and other data available from third parties. Although the Partnership believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the Partnership’s control, the Partnership cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.

In addition to these important factors, other important factors that, in the Partnership’s view, could cause actual results to differ materially from those discussed, expressed or implied, in the forward-looking statements include, but are not limited to, the strength of world economies and currency fluctuations, general market conditions, including fluctuations in charter rates, ownership days, and vessel values, changes in supply of and demand for liquefied natural gas (LNG) shipping capacity, changes in the Partnership’s operating expenses, including bunker prices, drydocking and insurance costs, the market for the Partnership’s vessels, the early termination of Partnership’s charters and the Partnership’s inability to replace assets and/or long-term contracts, the availability of financing and refinancing, changes in governmental laws, rules and regulations or actions taken by regulatory authorities, economic, regulatory, political and governmental conditions that affect the shipping and the LNG industry, potential liability from pending or future litigation, and potential costs due to environmental damage and vessel collisions, general domestic and international political conditions, potential disruption of shipping routes due to accidents, political events, or international hostilities, geopolitical events including ongoing conflicts and hostilities in the Middle East and other regions throughout the world and the global response to such conflicts and hostilities, changes in tariffs, trade barriers, and embargos, including uncertainty regarding the scope, legitimacy, and durability of existing and future tariff measures by the U.S. and the effects of retaliatory tariffs and countermeasures from affected countries, vessel breakdowns, instances of off-hires, the length and severity of epidemics and pandemics, the impact of public health threats and outbreaks of other highly communicable diseases, the amount of cash available for distribution, and other important factors, including those the Partnership describes from time to time in the reports it files with the U.S. Securities and Exchange Commission (the “SEC”). Due to the ongoing war between Russia and Ukraine, the United States, the United Kingdom, the European Union, and other countries and organizations have announced and enacted numerous sanctions against Russia to impose severe economic pressure on the Russian economy and government. The full impact of the commercial and economic consequences of the Russian war with Ukraine is uncertain at this time. For further information, please see “Russian Sanctions Developments” herein. Partnership cannot provide any assurance that current applicable sanctions, any further development in sanctions, or escalation of the Ukraine war and other geopolitical events and conflicts more generally, will not have a significant impact on its business, financial condition, results of operations, or ability to make distributions to unitholders.

Please see the Partnership’s filings with the SEC for a more complete discussion of these and other risks and uncertainties. The information set forth herein speaks only as of the date hereof.

The Partnership undertakes no obligation, and specifically declines any obligation, to update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable laws. New factors emerge from time to time, and it is not possible for the Partnership to predict all of these factors which may adversely affect its results. Further, the Partnership cannot assess the effect of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement. If one of more forward-looking statements are updated, no inference should be drawn that additional updates will be made with respect to those or other forward-looking statements

APPENDIX A

DYNAGAS LNG PARTNERS LP
Condensed Consolidated Statements of Income
 (In thousands of U.S. dollars except units and per unit data) Three Months Ended
June 30, Six Months Ended
June 30,  2026
(unaudited) 2025
(unaudited) 2026
(unaudited) 2025
(unaudited)REVENUES        Voyage revenues$41,188 $38,613 $81,126 $77,720 Other operating revenues from related party 573  —  573  — EXPENSES        Voyage expenses (including related party) (2,889)  (1,549)  (5,980)  (3,289) Vessel operating expenses (8,912)  (7,747)  (19,089)  (16,478) General and administrative expenses (including related party) (407)  (457)  (939)  (971) Management fees -related party (1,740)  (1,690)  (3,462)  (3,361) Depreciation (7,994)  (7,994)  (15,900)  (15,900) Operating income 19,819  19,176  36,329  37,721 Interest and finance costs, net (3,837)  (5,230)  (7,811)  (10,096) Other, net (25)  (237)  (28)  (346) Other income —  —  4,893  — Net income$15,957 $13,709 $33,383 $27,279 Earnings per common unit
(basic and diluted)$0.39 $0.23 $0.82 $0.52 Weighted average number of units outstanding, basic and diluted:        Common units 36,382,011  36,552,642  36,382,011  36,644,628               DYNAGAS LNG PARTNERS LP
Condensed Consolidated Balance Sheets
(Expressed in thousands of U.S. dollars—except for unit data)
       June 30,
2026
(unaudited) December 31,
2025
(unaudited)ASSETS:    Cash and cash equivalents$59,486$41,039Due from related party (current and non-current) 1,350 3,225Other assets 13,718 8,832Vessels, net 717,248 733,148Total assets$791,802$786,244     LIABILITIES    Other financial liabilities, net of deferred financing fees$255,225$277,073Other liabilities 36,435 35,941Due to related party (current and non-current) 546 —Total liabilities$292,206$313,014     PARTNERS’ EQUITY    General partner (35,526 units issued and outstanding as at June 30, 2026 and December 31, 2025) 206 180Common unitholders (36,382,011 units issued and outstanding as at June 30, 2026 and December 31, 2025) 426,174 399,834Series A Preferred unitholders: (3,000,000 units issued and outstanding as at June 30, 2026 and December 31, 2025) 73,216 73,216Total partners’ equity$499,596$473,230     Total liabilities and partners’ equity$791,802$786.244      DYNAGAS LNG PARTNERS LP
Condensed Consolidated Statements of Cash Flows
(Expressed in thousands of U.S. dollars)    Three Months Ended
June 30, Six Months Ended
June 30,  2026  2025  2026  2025   (unaudited) (unaudited)Cash flows from Operating Activities:        Net income:$15,957 $13,709 $33,383 $27,279 Adjustments to reconcile net income to net cash provided by operating activities:        Depreciation 7,994  7,994  15,900  15,900 Amortization of deferred financing fees 116  132  236  267 Deferred revenue amortization (164)  700  (371)  1,393 Amortization of deferred charges 18  54  71  107 Changes in operating assets and liabilities:        Trade accounts receivable 1,148  56  (315)  675 Prepayments and other assets (595)  (3,347)  (936)  (223) Inventories 2  (11)  30  (42) Due from/ to related parties 634  691  2,421  1,440 Deferred charges (120)  4  (120)  4 Trade accounts payable (1,153)  (22)  (1,252)  (32) Accrued liabilities (193)  3,074  179  (827) Accrued interest on Redeemable Preferred Units —  529  —  529 Unearned revenue (2,634)  747  (1,677)  (4,086) Net cash from Operating Activities 21,010  24,310  47,549  42,384          Cash flows from Financing Activities:        Repurchase of common units costs —  (4)  —  (4) Repurchase of common units —  (554)  —  (785) Distributions declared and paid (3,509)  (4,830)  (7,018)  (9,811) Repayment of other financial liabilities (11,042)  (11,042)  (22,084)  (22,084) Net cash used in Financing Activities (14,551)  (16,430)  (29,102)  (32,684)          Net increase in cash and cash equivalents 6,459  7,880  18,447  9,700 Cash and cash equivalents at beginning of the period 53,027  69,976  41,039  68,156 Cash and cash equivalents at end of the period$59,486 $77,856 $59,486 $77,856              
APPENDIX B

Fleet Statistics and Reconciliation of U.S. GAAP Financial Information to Non- GAAP Financial Information

  Three Months Ended
June 30, Six Months Ended
June 30,(expressed in United states dollars except for operational data) 2026  2025  2026  2025   (unaudited) (unaudited)Number of vessels at the end of period 6  6  6  6 Average number of vessels in the period(1) 6  6  6  6 Calendar Days(2) 546.0  546.0  1,086.0  1,086.0 Available Days(3) 546.0  546.0  1,086.0  1,086.0 Revenue earning days(4) 525.5  542.5  1,039.0  1,082.5 Time Charter Equivalent rate(5)$70,145 $67,883 $69,195 $68,537 Fleet Utilization(4) 96.2%  99.4%  95.7%  99.7% Vessel daily operating expenses(6)$16,322 $14,189 $17,577 $15,173  (1) Represents the number of vessels that constituted the Partnership’s fleet for the relevant period, as measured by the sum of the number of days that each vessel was a part of the Partnership’s fleet during the period divided by the number of Calendar Days (defined below) in the period.

(2) “Calendar Days” are the total days that the Partnership possessed the vessels in its fleet for the relevant period.

(3) “Available Days” are the total number of Calendar Days that the Partnership’s vessels were in its possession during a period, less the total number of scheduled off-hire days during the period associated with major repairs or dry-dockings.

(4) The Partnership calculates fleet utilization by dividing the number of its Revenue earning days, which are the total number of Available Days of the Partnership’s vessels net of unscheduled off-hire days (which do not include positioning-repositioning days for which compensation has been received) during a period by the number of Available Days. The shipping industry uses fleet utilization to measure a company’s efficiency in finding employment for its vessels and minimizing the number of days that its vessels are off-hire for reasons such as unscheduled repairs but excluding scheduled off-hires for vessel upgrades, dry-dockings, or special or intermediate surveys.

(5) Time charter equivalent rate (“TCE rate”) is a measure of the average daily revenue performance of a vessel. For time charters, the Partnership calculates TCE rate by dividing total voyage revenues, less any voyage expenses, by the number of Available Days during the relevant time period. Under a time charter, the charterer pays substantially all vessel voyage related expenses. However, the Partnership may incur voyage related expenses when positioning or repositioning vessels before or after the period of a time charter, during periods of commercial waiting time or while off-hire during dry-docking or due to other unforeseen circumstances. The TCE rate is not a measure of financial performance under U.S. GAAP (non-GAAP measure), and should not be considered as an alternative to voyage revenues, the most directly comparable GAAP measure, or any other measure of financial performance presented in accordance with U.S. GAAP. However, the TCE rate is a standard shipping industry performance measure used primarily to compare period-to-period changes in a company’s performance despite changes in the mix of charter types (such as time charters, voyage charters) under which the vessels may be employed between the periods and to assist the Partnership’s management in making decisions regarding the deployment and use of the Partnership’s vessels and in evaluating their financial performance. The Partnership’s calculation of TCE rates may not be comparable to that reported by other companies due to differences in methods of calculation. The following table reflects the calculation of the Partnership’s TCE rates for the periods presented (amounts in thousands of U.S. dollars, except for TCE rates, which are expressed in U.S. dollars, and Available Days):

  Three Months Ended
June 30, Six Months Ended
June 30,  2026  2025  2026  2025 (In thousands of U.S. dollars, except for Available Days and TCE rate) (unaudited) (unaudited)Voyage revenues$41,188 $38,613 $81,126 $77,720 Voyage Expenses * (2,889)  (1,549)  (5,980)  (3,289) Time Charter equivalent revenues$38,299 $37,064 $75,146 $74,431 Available Days 546.0  546.0  1,086.0  1,086 Time charter equivalent (TCE) rate$70,145 $67,883 $69,195 $68,537               *Voyage expenses include commissions of 1.25% paid to Dynagas Ltd., the Partnership’s Manager, and third-party ship brokers, when defined in the charter parties, bunkers, port expenses and other minor voyage expenses.

(6) Daily vessel operating expenses, which include crew costs, provisions, deck and engine stores, lubricating oil, insurance, spares and repairs and flag taxes, are calculated by dividing vessel operating expenses by fleet Calendar Days for the relevant time period.

Reconciliation of Net Income to Adjusted EBITDA

  Three Months Ended
June 30, Six Months Ended
June 30,(In thousands of U.S. dollars) 2026   2025  2026   2025  (unaudited)  (unaudited)Net income$15,957  $13,709 $33,383  $27,279Net interest and finance costs(1) 3,837   5,230  7,811   10,096Depreciation 7,994   7,994  15,900   15,900Amortization of deferred revenue (164)   700  (371)   1,393Amortization of deferred charges 18   54  71   107Other income(2) —   —  (4,893)  —Adjusted EBITDA$27,642  $27,687 $51,901  $54,775 (1) Includes interest and finance costs and interest income, if any.

(2) Includes other income from insurance claims for damages incurred in prior years

The Partnership defines Adjusted EBITDA as earnings before interest and finance costs, net of interest income (if any), taxes (when incurred), depreciation and amortization (when incurred), and non-recurring items (if any). Adjusted EBITDA is used as a supplemental financial measure by management and external users of financial statements, such as investors, to assess the Partnership’s operating performance.

The Partnership believes that Adjusted EBITDA assists its management and investors by providing useful information that increases the ability to compare the Partnership’s operating performance from period-to-period and against that of other companies in its industry that provide Adjusted EBITDA information. This increased comparability is achieved by excluding the potentially disparate effects between periods or against companies of interest, other financial items, depreciation and amortization and taxes, which items are affected by various and possible changes in financing methods, capital structure and historical cost basis and which items may significantly affect Net Income between periods. The Partnership believes that including Adjusted EBITDA as a measure of operating performance benefits investors in (a) selecting between investing in the Partnership and other investment alternatives and (b) monitoring the Partnership’s ongoing financial and operational strength. Adjusted EBITDA is not intended to and does not purport to represent cash flows for the period, nor is it presented as an alternative to operating income. Further, Adjusted EBITDA is not a measure of financial performance under U.S. GAAP and does not represent and should not be considered as an alternative to Net Income, operating income, cash flow from operating activities or any other measure of financial performance presented in accordance with U.S. GAAP. Adjusted EBITDA excludes some, but not all, items that affect Net Income and these measures may vary among other companies. Therefore, Adjusted EBITDA, as presented above, may not be comparable to similarly titled measures of other businesses because they may be defined or calculated differently by those other businesses. It should not be considered in isolation or as a substitute for a measure of performance prepared in accordance with GAAP. Any non-GAAP measures should be viewed as supplemental to, and should not be considered as alternatives to, GAAP measures including, but not limited to net earnings (loss), operating profit (loss), cash flow from operating, investing and financing activities, or any other measure of financial performance or liquidity presented in accordance with GAAP.

Reconciliation of Net Income to Adjusted Net Income available to common unitholders and Adjusted Earnings per common unit

 Three Months Ended
June 30, Six Months Ended
June 30,(In thousands of U.S. dollars except for units and per unit data) 2026   2025   2026   2025   (unaudited)  (unaudited)Net Income$15,957  $13,709  $33,383  $27,279 Amortization of deferred revenue (164)   700   (371)   1,393 Amortization of deferred charges 18   54   71   107 Other income —   —   (4,893)   — Adjusted Net Income$15,811  $14,463  $28,190  $28,779 Less: Adjusted Net Income attributable to preferred unitholders and general partner (1,701)   (3,143)   (3,399)   (6,331) Less: Deemed dividend on Series B Preferred Units —   (2,031)   —   (2,031) Adjusted Net Income available to common unitholders$14,110  $9,289  $24,791  $20,417             Weighted average number of common units outstanding, basic and diluted: 36,382,011   36,552,642   36,382,011   36,644,628 Adjusted Earnings per common unit, basic and diluted$0.39  $0.25  $0.68  $0.56                  Adjusted Net Income represents net income before non-recurring expenses (if any), charter hire amortization related to time charters with escalating time charter rates, amortization of deferred charges, and other income. Adjusted Net Income available to common unitholders represents the common unitholders interest in Adjusted Net Income for each period presented. Adjusted Earnings per common unit represents Adjusted Net Income available to common unitholders divided by the weighted average common units outstanding during each period presented.

Adjusted Net Income, Adjusted Net Income available to common unitholders and Adjusted Earnings per common unit, basic and diluted, are not recognized measures under U.S. GAAP and should not be regarded as substitutes for net income and earnings per unit, basic and diluted. The Partnership’s definitions of Adjusted Net Income, Adjusted Net Income available to common unitholders and Adjusted Earnings per common unit, basic and diluted, may not be the same at those reported by other companies in the shipping industry or other industries. The Partnership believes that the presentation of Adjusted Net Income and Adjusted Net Income available to common unitholders and Adjusted Earnings per common unit, basic and diluted is useful to investors because these measures facilitate the comparability and the evaluation of companies in the Partnership’s industry. In addition, the Partnership believes that Adjusted Net Income is useful in evaluating its operating performance compared to that of other companies in the Partnership’s industry because the calculation of Adjusted Net Income generally eliminates the accounting effects of items which may vary for different companies for reasons unrelated to overall operating performance. The Partnership’s presentation of Adjusted Net Income, Adjusted Net Income available to common unitholders and Adjusted Earnings per common unit does not imply, and should not be construed as an inference, that its future results will be unaffected by unusual or non-recurring items and should not be considered in isolation or as a substitute for a measure of performance prepared in accordance with GAAP.

Management guided 2026 volumes to 53 to 54 MTPA, with a third of the increase from Stage 3 Summary

UBS reiterated Buy on Cheniere with a $340 target, saying management could raise 2026 volume guidance again before year-end.

UBS reiterated a Buy rating and $340 price target on Cheniere Energy LNG, pointing to a record of delivering projects on time and on budget. Shares were down 1.43% intraday.

The company told investors on its second quarter call that roughly a third of the increase in its revised 2026 volume guidance of 53 to 54 million tonnes per annum came from the Stage 3 ramp, with trains starting earlier than planned. UBS said that revision only modestly reflected the benefit, and that management could lift guidance again before year-end.

UBS described global LNG as undersupplied, citing extended downtime at a major Qatari facility and a widening spread between European TTF and US Henry Hub prices. The firm said Cheniere's ability to accelerate project start-ups represents a competitive advantage.

Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.

Click for the complete disclosure

Key Takeaways Petrobras is exploring LNG exports from offshore fields as Asian gas demand continues to rise.Seatrium talks focus on offshore liquefaction, potentially enabling Petrobras to commercialize more gas.More than half of Brazil's gas is reinjected, while regulatory and investment hurdles remain. Petróleo Brasileiro S.A. - Petrobras (PBR - Free Report) is reportedly exploring the potential to export liquefied natural gas (LNG) from Brazil’s giant offshore fields as demand for the fuel continues to rise across Asia and other markets. The Brazilian state-controlled oil producer is also discussing potential natural gas collaboration with Seatrium, particularly on offshore gas liquefaction solutions.

Petrobras Targets Growing Asian LNG DemandPetrobras CEO Magda Chambriard said the company sees an opportunity to export gas through LNG vessels. PBR is in talks with Singapore-based offshore and marine player Seatrium on ways to liquefy and export natural gas from its offshore fields.

Chambriard highlighted Asia-Pacific as a potential key destination for Brazilian gas, noting that the region has the fastest-growing gas demand globally. Petrobras already exports significant volumes of crude oil to Asia-Pacific, making the region a potentially attractive market for future LNG exports.

The initiative comes as Asian and other international markets seek additional LNG supply sources beyond Qatar. The document notes that Qatar has faced export constraints amid the Iran war, increasing the importance of alternative supply options.

Offshore Liquefaction Could Unlock New Gas OpportunitiesTo export natural gas as LNG, Petrobras would need to develop infrastructure capable of liquefying the gas before shipment. The company has not disclosed a timeline for potential exports or provided an estimate of the investment required.

The discussions with Seatrium are focused on addressing the technical challenge of liquefying gas offshore. Seatrium CEO Chris Ong said LNG is an area where the company is highly focused and suggested that the partnership could extend beyond its existing FPSO activities.

For Petrobras, offshore liquefaction could provide a way to monetize natural gas resources from its deepwater fields while creating an additional export channel.

Brazil Has Significant Untapped Gas PotentialBrazil is one of South America’s largest natural gas producers. However, more than half of its gas is currently reinjected into oil wells to support crude oil production rather than being sold into the market.

Developing LNG export capabilities could therefore provide Petrobras with another avenue to commercialize its offshore gas resources. However, the company would first need to address the infrastructure and investment requirements associated with gas liquefaction and exports.

Regulatory Challenges RemainPetrobras’ LNG ambitions come as the company faces a potential regulatory challenge in Brazil’s domestic natural gas market.

Proposed legislation could require companies with significant market shares to make part of their natural gas supply available to competitors. Petrobras, already Brazil’s dominant gas supplier, opposes the proposal.

The company maintains that the domestic gas sector has already become less concentrated following measures agreed with Brazil’s antitrust watchdog in 2019.

Seatrium Sees Broader Offshore CollaborationThe potential Petrobras-Seatrium collaboration could extend beyond LNG. The companies are already connected through Petrobras’ offshore operations, with two FPSO vessels set to sail for Brazil’s deepwater Buzios oil field following their christening ceremony.

Ong indicated that Seatrium hopes to combine its people and capabilities with Petrobras across other assets in the LNG supply chain. This suggests the companies could explore broader offshore solutions if the economics of the projects prove attractive.

What This Means for InvestorsPetrobras’ potential move into LNG exports could create a new commercialization opportunity for Brazil’s offshore natural gas resources. Asia-Pacific’s rapidly growing gas demand provides an attractive potential market, while collaboration with Seatrium could help the company address the complexities of offshore liquefaction.

However, the initiative remains at an early stage. Petrobras has yet to disclose a project timeline or spending plans, while proposed changes to Brazil’s gas market could create additional challenges. The success of the strategy will ultimately depend on the technical feasibility and economics of offshore LNG development.

PBR’s Zacks Rank & Key PicksPetrobras is the largest integrated energy firm in Brazil, and its activities include exploration and production of oil, as well as refining, processing, trading and transportation. Currently, PBR carries a Zacks Rank #4 (Sell).

Investors interested in the energy sector may consider some top-ranked stocks like Delek US Holdings, Inc. (DK - Free Report) , Drilling Tools International Corporation (DTI - Free Report) and HF Sinclair Corporation (DINO - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Brentwood, TN-based Delek US Holdings is an independent refiner, transporter and marketer of petroleum products. The Zacks Consensus Estimate for DK’s 2026 earnings indicates 67.4% year-over-year growth.

Drilling Tools International is a global oilfield services provider focused on supplying downhole tools used in horizontal and directional drilling. The Zacks Consensus Estimate for DTI’s current quarter earnings indicates 200% year-over-year growth.

HF Sinclair is an independent energy company producing and marketing gasoline, diesel, jet fuel, renewable diesel, lubricants and specialty products. The Zacks Consensus Estimate for DINO’s 2026 earnings indicates 134.2% year-over-year growth.

U.S. LNG producer Cheniere ​Energy's (LNG.N) Corpus Christi LNG export plant ‌in Texas continued to show reduced natural gas demand on Monday, according to preliminary data from ​financial firm LSEG, as maintenance work ​at the facility continues.

Corpus Christi was on ⁠track to consume about 1.8 billion ​cubic feet per day (bcfd) of natural gas, down ​from its typical intake of around 2.6 bcfd.

Corpus Christi is the United States' third-largest LNG export facility, ​while Cheniere is the largest LNG ​exporter.

Cheniere said its Corpus Christi plant was undergoing planned maintenance ‌but ⁠declined to give further details.

Feedgas deliveries to all U.S. LNG export plants totaled about 16.7 bcfd on Monday, below the nearly ​18 bcfd the ​country's ⁠LNG facilities can process.

The U.S. is the world's largest LNG exporter ​and a key supplier of the ​supercooled ⁠fuel to global markets.

The reduction in feedgas flows comes as global LNG markets remain ⁠supported by ​supply concerns linked to ​the ongoing conflict involving Iran.

Not for distribution to United States newswire services or for dissemination in the United States

TORONTO, ON / ACCESS Newswire / August 17, 2026 / LNG Energy Group Corp. (TSXV:LNGE)(TSXV:LNGE.WT)(OTC PINK:LNGNF)(FWB:E26) (the "Company" or "LNG Energy Group") is pleased to announce that, further to its news releases dated May 1, 2026, July 28, 2026 and August 6, 2026, it has completed the first tranche (the "First Tranche") of its previously announced non-brokered private placement financing (the "Private Placement") of units of the Company ("Units"). The Company issued 9,438,071 Units at a price of C$0.05 per Unit for aggregate gross proceeds of approximately C$471,903.

Each Unit consists of one (1) common share of the Company (each, a "Common Share"), and one (1) Common Share purchase warrant (each, a "Warrant"), with each Warrant exercisable to acquire one Common Share at a price of C$0.10 per share for a period of 36 months from the date of issuance.

The First Tranche was completed in accordance with the terms of the partial revocation orders (the "Partial Revocation Orders") issued by the Ontario Securities Commission (the "OSC") on April 23, 2026 and August 6, 2026, each of which partially revoked the failure-to-file cease trade order issued by the OSC against the Company on May 7, 2025 (the "FFCTO") for purposes of permitting the Company to complete the Private Placement.

Prior to closing of the First Tranche, each subscriber of the Private Placement (collectively, the "Subscribers"): (i) received copies of the FFCTO and the Partial Revocation Orders, and (ii) delivered an acknowledgement to the Company confirming that all of the Company's securities, including the Units and the underlying securities issued in connection with the Private Placement, will remain subject to the FFCTO unless and until the FFCTO is fully revoked, and that the granting of the Partial Revocation Orders by the OSC does not guarantee that a full revocation of the FFCTO will be granted in the future.

The First Tranche included subscriptions from insiders of the Company for an aggregate of 1,982,688 Units or approximately C$99,134. This participation by insiders of the Company constitutes "related party transactions" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Shareholders in Special Transactions ("MI 61-101"). For these transactions, the Company has relied on the exemption from the formal valuation requirement contained in Section 5.5(a) of MI 61-101 and has relied on the exemption from the minority shareholder requirements contained in Section 5.7(1)(a) of MI 61-101, as well as the corresponding exemptions contained in Policy 5.9 of the TSX Venture Exchange (the "TSXV").

The Units issued pursuant to the First Tranche are subject to a hold period of four months and one day from the date of issuance in accordance with the policies of the TSXV and applicable securities legislation, which expires on December 15, 2026.

All of the Company's securities, including the Units and underlying securities issued in connection with the Private Placement, will remain subject to the FFCTO unless and until the FFCTO has been fully revoked. The Company intends to use the proceeds from the Private Placement to satisfy its outstanding continuous disclosure obligations and to apply for a full revocation of the FFCTO; however, there can be no assurance that a full revocation order will be obtained.

The closing of the First Tranche of Private Placement remains subject to the final acceptance of the TSXV. The Company anticipates closing a second tranche of the Private Placement on the week commencing on August 24 and may conduct additional closings prior to the expiry of the Partial Revocation Order.

The securities issued pursuant to the Private Placement have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or U.S. persons absent registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an exemption therefrom. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Units in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About LNG Energy Group

The Company is focused on the acquisition and development of natural gas production and exploration assets in Latin America. For more information, please visit www.lngenergygroup.com.

For more information please contact:

Angel Roa, Chief Financial Officer LNG Energy Group Corp.
Website: www.lngenergygroup.com
Email: [email protected]

Find us on social media:

LinkedIn: https://www.linkedin.com/company/lng-energy-group-inc/
Instagram: @lngenergygroup
X: @LNGEnergyCorp

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of historical fact are forward-looking statements, and are based on expectations, estimates and projections as at the date of this news release that reflect the current views and/or expectations of management of LNG Energy Group with respect to performance, business and future events. Forward-looking information can often be identified by words such as "may", "will", "would", "could", "should", "believes", "estimates", "projects", "potential", "expects", "plans", "intends", "anticipates", "targeted", "continues", "forecasts", "designed", "goal", or the negative of those words or other similar or comparable words. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which LNG Energy Group operates, in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable in the circumstances, and that while considered reasonable, are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking information. There can be no assurance that such statements will prove to be accurate, and accordingly, readers should not place undue reliance on the forward-looking statements contained in this news release. LNG Energy Group does not undertake any obligation to release publicly any revisions or update any voluntary forward-looking statements, except as required by applicable securities law, whether they change as a result of new information, future events or otherwise.

This news release includes, but is not limited to, forward-looking statements relating to: the timing, terms and completion of the Private Placement, the use of funds from the Private Placement, approval of the Private Placement (including approvals of the TSXV), the Company preparing and filing all outstanding continuous disclosure documents, and the Company applying for and receiving a full revocation of the FFCTO. Forward-looking statements in this press release are based on certain assumptions, namely: the ability of the Company to continue as a going concern, the ability of the Company to complete the Private Placement, the ability of the Company to use the funds from the Private Placement as intended, the ability of the Company to prepare and file all outstanding continuous disclosure documents and the Company's ability to apply for and receive a full revocation of the FFCTO. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties, including, but not limited to: the inability of the Company to complete the Private Placement, the inability of the Company to obtain approval from the TSXV, the inability of the Company to use the funds from the Private Placement for the intended purposes, the inability of the Company to prepare and file all outstanding continuous disclosure documents and the inability of the Company to have the FFCTO fully revoked. The Company's actual decisions, activities, results, performance, or achievement could differ materially from those expressed in, or implied by, such forward- looking statements and accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits that the Company will derive from them.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: LNG Energy Group Corp.

Key Takeaways Golar LNG posted Q2 EPS of 68 cents, beating estimates and improving year over year.Q2 revenues of $130.5 million outpaced the Zacks Consensus Estimate and improved 72% year over year.GLNG's share of contractual debt at the end of the second quarter increased 31% year over year. Golar LNG Limited (GLNG - Free Report)  reported impressive second-quarter 2026 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate and improved year over year.

Quarterly earnings of 68 cents per share surpassed the Zacks Consensus Estimate of 30 cents and increased year over year. Revenues of $130.5 million outpaced the Zacks Consensus Estimate of $125 million and improved 72% year over year.

Adjusted EBITDA of $127.36 million improved 159% year over year.

GLNG exited the second quarter of 2026 with cash and cash equivalents of $870.47 million compared with $1.01 billion at the end of the prior quarter. GLNG’s share of contractual debt at the end of the reported quarter increased 31% to $2.68 billion.

GLNG’s board of directors approved a second-quarter 2026 dividend of 25 cents per share. The dividend will be paid on Sept. 2, 2026, to shareholders of record at the close of business on Aug. 24. As of June 30, 2026, GLNG had 102.1 million shares issued and outstanding.

Currently, GLNG sports a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Q2 Performance of Some Other Stocks Belonging to GLNG's IndustryEni S.p.A.(E - Free Report) reported second-quarter 2026 adjusted earnings of $1.76 per American Depository Receipt, missing the Zacks Consensus Estimate of $1.90 by 7.4%. The bottom line increased 122.8% from the year-ago quarter’s 79 cents. Quarterly revenues of $26.35 billion rose 21.5% year over year and surpassed the consensus estimate of $24 billion by 9.8%.

Higher commodity realizations, production growth and stronger segment profitability supported revenues.

Chevron Corporation(CVX - Free Report) reported second-quarter 2026 adjusted earnings of $6.06 per share, which beat the Zacks Consensus Estimate of $5.80 by 4.5%. The outperformance was driven by higher commodity prices, increased upstream production following the Hess acquisition, stronger refined-product margins and higher sales volumes.

The company generated revenues of $70.06 billion. The metric beat the Zacks Consensus Estimate of $57.53 billion and increased 56.3% year over year.  The increase was primarily driven by a 51.4% year-over-year increase in sales and other operating revenues, along with a 296.5% rise in income from equity affiliates.

Key Takeaways Venture Global's Q2 EPS soared 264.3% y/y to 51 cents as revenues climbed 47.6% to $4.58B.LNG volumes sold rose 41.7%, while Plaquemines supplied 90 of 127 exported cargoes in the quarter.Venture Global raised 2026 adjusted EBITDA guidance to $8.70-$9.10B and cargo outlook to 50--518. Venture Global, Inc. (VG - Free Report) reported second-quarter 2026 earnings of 51 cents per share, beating the Zacks Consensus Estimate of 49 cents by 4.08%. The bottom line skyrocketed 264.3% from 14 cents in the year-ago quarter.

Quarterly revenues rose 47.6% year over year to $4.58 billion and topped the Zacks Consensus Estimate of $4.50 billion by 1.64%. Higher LNG sales volumes, led by Plaquemines commissioning, and stronger LNG sales prices net of feed gas costs drove the results. Venture Global exported 127 cargoes during the quarter.

VG Benefits From Higher LNG Sales VolumesLNG volumes sold increased 41.7% year over year to 466.4 trillion British thermal units, or TBtu, from 329.2 TBtu. Exported LNG volumes rose 44.6% to 478.3 TBtu from 330.8 TBtu.

Plaquemines accounted for 90 cargoes, while Calcasieu Pass contributed 37. The company also exported its 1,000th cargo across its projects, reaching the milestone about four years after its first export.

Venture Global Posts Strong Operating Profit GrowthIncome from operations climbed 110.8% year over year to $2.19 billion from $1.04 billion. Consolidated adjusted EBITDA increased 78.8% to $2.49 billion from $1.39 billion, with the EBITDA margin reaching 54%.

Net income attributable to common stockholders was $1.35 billion compared with $368 million a year earlier. Higher sales volumes and better LNG sales prices net of feed gas costs were the primary contributors to the EBITDA increase.

VG Sees Mixed Expense Trends in the QuarterCost of sales increased to $1.66 billion from $1.42 billion as LNG volumes rose. Operating and maintenance expenses advanced to $335 million from $217 million, reflecting increased commissioning work at Plaquemines and a larger fleet of Venture Global-owned ships in operation.

General and administrative expenses were $112 million compared with $103 million a year ago. Development expenses fell to $23 million from $57 million, while depreciation and amortization declined to $260 million from $267 million. Total operating expenses were $2.39 billion versus $2.06 billion.

Venture Global Advances Plaquemines & CP2Plaquemines remains in the final stages of construction, commissioning and assurance testing ahead of Phase 1 commercial operations. Venture Global continues to target Phase 1 commercial operations in the fourth quarter of 2026 and Phase 2 in mid-2027.

CP2 remains on schedule for first LNG in the second half of 2027. The project had 16 liquefaction modules on site, roofs raised on all four LNG storage tanks, and five gas and steam turbines on foundations. Engineering was 100% complete and procurement stood at 79%.

VG Raises Full-Year EBITDA GuidanceVenture Globalraised its 2026 consolidated adjusted EBITDA guidance to $8.70-$9.10 billion from $8.20-$8.50 billion. The updated range assumes a fixed liquefaction fee of $12.50-$13.50 per million British thermal units (MMBtu) for remaining unsold cargoes. A $1 per MMBtu change in the fee is expected to move full-year adjusted EBITDA by $180-$210 million.

The company expects 500-518 cargoes in 2026, including 149-154 from Calcasieu Pass and 351-364 from Plaquemines. As of Aug. 11, 91% of expected 2026 cargoes were contracted at a weighted-average liquefaction fee of $5.05 per MMBtu, while 75% of expected 2027 cargoes were contracted.

Venture Global Expands Liquidity & Shareholder ReturnsCash and restricted cash totaled $4.60 billion as of June 30, 2026, while total assets reached $61.52 billion. The company also had a $2-billion corporate revolving credit facility that remained undrawn and fully available.

Venture Global refinanced $5.30 billion of capital since the start of the second quarter, generating more than $100 million of expected annual interest and coupon savings. The board raised the quarterly dividend 122% to 4 cents per share, payable Sept. 30, to shareholders of record as of Sept. 15.

Zacks Rank & Key PicksVenture Global currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the energy sector are PBF Energy Inc. (PBF - Free Report) , HF Sinclair Corporation (DINO - Free Report) and Cactus, Inc. (WHD - Free Report) . PBF and DINO sport a Zacks Rank #1 (Strong Buy) at present, and WHD carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.

PBF reported second-quarter 2026 adjusted earnings of $6.22 per share, surpassing the Zacks Consensus Estimate of $4.05.

As of June 30, 2026, PBF had total debt of $1.75 billion, and cash and cash equivalents of $894.1 million.

HF Sinclair reported second-quarter 2026 adjusted earnings of $5.31 per share, topping the Zacks Consensus Estimate of $4.39.

As of June 30, 2026, DINO had total debt of $2.77 billion, and cash and cash equivalents of $2.26 billion.

Cactus reported second-quarter 2026 adjusted earnings of 93 cents per share, surpassing the Zacks Consensus Estimate of 71 cents.

As of June 30, 2026, WHD had cash and cash equivalents of $365 million.

3 Energy Stocks to Watch Now as LNG Demand SurgesCheniere Energy NYSE: LNG raised its 2026 financial outlook for a second consecutive quarter, citing higher production, stronger marketing margins and optimization activity as global LNG markets faced supply disruption tied to constrained flows through the Strait of Hormuz.

The company reported second-quarter consolidated adjusted EBITDA of approximately $1.8 billion, distributable cash flow of about $1.2 billion and net income of more than $3 billion. Cheniere produced and exported 184 cargoes totaling 672 TBtu during the quarter, a 20% increase from the prior-year period.

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3 LNG Stocks to Watch as Iran War ContinuesChairman, President and CEO Jack Fusco said operating performance benefited from the accelerated startup of additional Corpus Christi Stage 3 trains and improved reliability across the company’s facilities. Cheniere increased its full-year adjusted EBITDA forecast to a range of $7.9 billion to $8.4 billion and distributable cash flow guidance to $5.3 billion to $5.8 billion. The new low ends of both ranges exceed the prior high ends, Fusco said.

Production outlook rises as new capacity ramps Cheniere tightened its 2026 production guidance to 53 million to 54 million tons, compared with its prior range of 52 million to 54 million tons. CFO Zach Davis said only about one-third of the increase from the company’s original production outlook reflects Corpus Christi Stage 3 ramp-up, while more than two-thirds stems from reliability improvements, lower downtime and reduced maintenance requirements.

3 Stocks Sending a Strong Signal With Massive BuybacksDavis said the company’s updated guidance includes roughly $300 million from an additional 500,000 tons of expected production, based on margins of approximately $10 to $13. About $200 million of the increase was associated with higher margins and forward sales activity, while optimization contributed roughly $100 million to $150 million, he said.

Cheniere expects to have less than 1 million tons, or 50 TBtu, of unsold open volumes remaining in 2026. Davis said a $1 change in market margins is expected to affect full-year EBITDA by less than $50 million due to the limited remaining exposure.

Corpus Christi Stage 3 is more than 98% complete, according to Fusco. Train 6 reached substantial completion in June, while Train 7 entered commissioning and was expected to produce first LNG imminently. Cheniere expects Train 7 to reach substantial completion in the coming months, ahead of its guaranteed 2027 completion date.

The company’s mid-scale Trains 8 and 9 and related debottlenecking project were more than 48% complete. Fusco said piling had been completed, underground piping work was progressing, and key equipment packages, including the Train 8 cold box, were arriving at the site on or ahead of schedule.

Sabine Pass expansion advances toward FID During the quarter, Cheniere signed a lump-sum turnkey engineering, procurement and construction contract with Bechtel Energy for Phase I of its Sabine Pass expansion. The approximately $4.7 billion EPC contract covers one large-scale train, Sabine Pass Train 7, a boil-off gas reliquefaction unit and associated infrastructure and facility tie-ins.

Train 7 is designed for approximately 5 million tons per annum of capacity. The reliquefaction unit is expected to add about 1 million tons per annum across the Sabine Pass facility by debottlenecking existing large-scale trains. In total, Phase I is expected to add more than 6 million tons per annum, or roughly 10% growth in Cheniere’s production platform.

Bechtel has begun early engineering and procurement work under a limited notice to proceed. Baker Hughes is slated to supply turbines and compressors and will also provide fleetwide gas-turbine upgrades at Sabine Pass under a multiyear services agreement.

Fusco said Cheniere expects regulatory approvals later in 2026 and has begun financing work, providing what he described as clear visibility toward a final investment decision. Davis said formal FID is expected early next year. The company intends to fund about half of the Phase I project cost with debt and the other half with equity cash flow, including through flexibility in the variable component of the Cheniere Partners distribution.

Global market disruption boosts focus on supply security Executive Vice President and Chief Commercial Officer Anatol Feygin said LNG markets during the quarter were shaped by the conflict involving Iran and restrictions on tanker traffic through the Strait of Hormuz. He said LNG exports through the waterway remained severely constrained even after a mid-June ceasefire announcement.

According to Feygin, outbound crude tanker movements recovered to about 25% of their pre-conflict average by quarter-end, while LNG transit recovery remained below 10%. He said reduced Qatari and UAE shipments represented approximately 18 million tons of lower LNG supply during the quarter, partially offset by increased production elsewhere.

Overall global LNG exports declined by about 3 million tons year over year in the quarter, Feygin said. U.S. shipments shifted toward Asia as Asian prices moved above European prices, with U.S. LNG exports to Asia reaching a quarterly record of approximately 11 million tons.

Europe ended the quarter with an estimated 11 billion cubic meter storage deficit compared with the prior year, equivalent to roughly 100 LNG cargoes, Feygin said. He said Cheniere now believes it could be difficult for Europe to reach even 70% inventory levels before winter, below the region’s 80% storage target.

Feygin said the supply disruption reinforced the value of reliable delivery, portfolio diversification and contract flexibility. He added that Cheniere was comfortable it could secure mid-single-digit millions of tons of additional offtake to support the first phase of a Corpus Christi expansion over the next 12 to 18 months, though he described the broader contracting environment as competitive.

Capital returns and accounting changes Cheniere repurchased approximately 2.2 million shares for $550 million during the second quarter, bringing first-half buybacks to roughly $1.1 billion for nearly 5 million shares. The company also declared a quarterly dividend of $0.555 per common share and reiterated its commitment to grow the dividend by at least 10% annually through the end of the decade.

The company deployed nearly $900 million of equity cash flow during the quarter toward growth investments, shareholder returns and balance-sheet management. It also issued $1 billion of 2036 notes and $750 million of 2056 notes at Cheniere Partners, using proceeds to redeem $1.5 billion of senior secured notes due in 2027 at Sabine Pass and to fund a portion of early work on the Sabine Pass expansion.

Davis also said Cheniere designated the normal purchases and normal sales accounting exception for approximately 75% of volumes associated with its long-term integrated production marketing agreements. The change, effective in mid-June, means those agreements will no longer be marked to fair value each period and is expected to reduce quarterly net-income volatility related to noncash derivative accounting adjustments.

About Cheniere Energy (NYSE:LNG)Cheniere Energy, Inc is a U.S.-based energy company that develops, owns and operates liquefied natural gas (LNG) infrastructure and markets LNG to global customers. The company's core activities include natural gas liquefaction, long‑term and short‑term LNG sales and marketing, and the associated midstream services required to move gas from production basins to international markets. Cheniere focuses on converting domestic natural gas into LNG for export, providing a bridge between North American supply and overseas demand.

Cheniere's principal operating assets are large-scale LNG export terminals located on the U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Cheniere Energy (LNG - Free Report) came out with quarterly earnings of $3.02 per share, beating the Zacks Consensus Estimate of $2.89 per share. This compares to earnings of $7.3 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +4.50%. A quarter ago, it was expected that this natural gas company would post earnings of $3.91 per share when it actually produced earnings of $4.77, delivering a surprise of +21.99%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Cheniere Energy, which belongs to the Zacks Oil and Gas - Exploration and Production - United States industry, posted revenues of $5.73 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 13.96%. This compares to year-ago revenues of $4.64 billion. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Cheniere Energy shares have added about 31.1% since the beginning of the year versus the S&P 500's gain of 12.8%.

What's Next for Cheniere Energy?While Cheniere Energy has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Cheniere Energy was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $3.36 on $5.37 billion in revenues for the coming quarter and -$2.60 on $21.67 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Exploration and Production - United States is currently in the bottom 13% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, California Resources Corporation (CRC - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 10.

This company is expected to post quarterly earnings of $1.31 per share in its upcoming report, which represents a year-over-year change of +19.1%. The consensus EPS estimate for the quarter has been revised 34.3% lower over the last 30 days to the current level.

California Resources Corporation's revenues are expected to be $979.33 million, up 0.1% from the year-ago quarter.

HOUSTON--(BUSINESS WIRE)--Cheniere Energy Partners, L.P. (“Cheniere Partners”) (NYSE: CQP) today announced its financial results for second quarter 2026.

HIGHLIGHTS

During the three and six months ended June 30, 2026, Cheniere Partners generated revenues of $2.6 billion and $6.2 billion, net income of $1.2 billion and $1.3 billion, and Adjusted EBITDA1 of $1.0 billion and $2.2 billion, respectively. With respect to the second quarter of 2026, Cheniere Partners declared a cash distribution of $0.820 per common unit to unitholders of record as of August 7, 2026, comprised of a base amount equal to $0.775 and a variable amount equal to $0.045. The common unit distribution and the related general partner distribution will be paid on August 14, 2026. Reconfirming full year 2026 distribution guidance of $3.10 - $3.40 per common unit, maintaining a base distribution of $3.10 per common unit. In May 2026, Sabine Pass Liquefaction Stage V, LLC entered into a lump sum, turnkey, engineering, procurement and construction (“EPC”) contract with Bechtel Energy, Inc. (“Bechtel”) for the first phase of the SPL Expansion Project (defined below) and has released Bechtel to commence early engineering and procurement under a limited notice to proceed (“LNTP”). 2026 FULL YEAR DISTRIBUTION GUIDANCE 2026

Distribution per Unit

$

3.10

-

$

3.40

SUMMARY AND REVIEW OF FINANCIAL RESULTS

  (in millions, except LNG data)

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

% Change

2026

2025

% Change

Revenues

$

2,583

$

2,455

5

%

$

6,183

$

5,444

14

%

Net income

$

1,161

$

553

110

%

$

1,347

$

1,194

13

%

Adjusted EBITDA1

$

983

$

726

35

%

$

2,158

$

1,764

22

%

LNG exported:

Number of cargoes

108

98

10

%

220

210

5

%

Volumes (TBtu)

396

352

13

%

808

758

7

%

LNG volumes loaded and recognized (TBtu)

396

351

13

%

809

756

7

%

Net income increased approximately $608 million and $153 million during the three and six months ended June 30, 2026, respectively, as compared to the corresponding 2025 periods. The increases were primarily driven by higher total margins per MMBtu of liquefied natural gas (“LNG”) delivered, primarily due to higher volumes recognized in income. The increase for the three months ended June 30, 2026 was also attributable to approximately $367 million of favorable variances related to changes in the fair value of our derivative instruments, including those impacts related to our long-term Integrated Production Marketing (“IPM”) agreements, while reported net income for the six months ended June 30, 2026 reflected $233 million of unfavorable variances related to these changes in fair value.

Adjusted EBITDA1 increased by approximately $257 million and $394 million during the three and six months ended June 30, 2026, respectively, primarily driven by higher total margins per MMBtu of LNG delivered, primarily driven by higher volumes recognized in income.

During the three and six months ended June 30, 2026, we recognized in income 396 and 809 TBtu, respectively, of LNG loaded from the SPL Project (defined below).

Capital Resources The table below provides a summary of our available liquidity (in millions) as of June 30, 2026:

  June 30, 2026

Cash and cash equivalents

$

443

Restricted cash and cash equivalents

23

Available commitments under our credit facilities(1):

Sabine Pass Liquefaction, LLC (“SPL”) Revolving Credit Facility

871

Cheniere Partners Revolving Credit Facility

1,000

Total available commitments under our credit facilities

1,871

Total available liquidity

$

2,337

Recent Key Financial Transactions and Updates

In June 2026, we issued $1.0 billion aggregate principal amount of 5.350% Senior Notes due 2036 and $750 million aggregate principal amount of 6.050% Senior Notes due 2056, and a portion of the net proceeds were used to fully redeem $1.5 billion aggregate principal amount of SPL’s 5.00% Senior Secured Notes due 2027, as well as for general corporate purposes, including funding a portion of the LNTP related to the first phase of the SPL Expansion Project.

SABINE PASS OVERVIEW

We own natural gas liquefaction facilities with total production capacity of over 30 million tonnes per annum (“mtpa”) of LNG at the Sabine Pass LNG terminal in Cameron Parish, Louisiana (the “SPL Project”).

As of July 31, 2026, over 3,460 cumulative LNG cargoes totaling approximately 240 million tonnes of LNG have been produced, loaded, and exported from the SPL Project.

SPL Expansion Project

We are developing an expansion adjacent to the SPL Project with an expected total peak production capacity of up to approximately 20 mtpa of LNG (the “SPL Expansion Project”), inclusive of estimated debottlenecking opportunities. We expect to execute the SPL Expansion Project in a phased approach, and a positive Final Investment Decision (FID) is subject to, among other things, receipt of necessary regulatory approvals and acceptable commercial and financing arrangements. The Federal Energy Regulatory Commission (FERC) application for authorization to site, construct and operate the SPL Expansion Project, as well as the Department of Energy (DOE) application authorizing the export of LNG to non-free trade agreement countries, remain pending. In May 2026, the lump sum, turnkey EPC contract with Bechtel for the first phase of the SPL Expansion Project was signed, and Bechtel was released to commence early engineering and procurement under a LNTP. The first phase includes a single train, Train 7, and a boil-off gas re-liquefaction unit, along with supporting infrastructure and tie-ins to the existing Sabine Pass LNG terminal, and has an expected total production capacity of over 6 mtpa of LNG, inclusive of estimated debottlenecking opportunities.

DISTRIBUTIONS TO UNITHOLDERS

In July 2026, we declared a cash distribution of $0.820 per common unit to unitholders of record as of August 7, 2026, comprised of a base amount equal to $0.775 ($3.10 annualized) and a variable amount equal to $0.045, which takes into consideration, among other things, amounts reserved for annual debt repayment and capital allocation goals, anticipated capital expenditures to be funded with cash, and cash reserves to provide for the proper conduct of the business. The common unit distribution and the related general partner distribution will be paid on August 14, 2026.

INVESTOR CONFERENCE CALL AND WEBCAST

Cheniere Energy, Inc. (NYSE: LNG) will host a conference call to discuss its financial and operating results for the second quarter on Thursday, August 6, 2026, at 11 a.m. Eastern time / 10 a.m. Central time. A listen-only webcast of the call and an accompanying slide presentation may be accessed through our website at www.cheniere.com. Following the call, an archived recording will be made available on our website. The call and accompanying slide presentation will include financial and operating results or other information regarding Cheniere Partners.

About Cheniere Partners

Cheniere Partners owns the Sabine Pass LNG terminal located in Cameron Parish, Louisiana, which has natural gas liquefaction facilities with a total production capacity of over 30 mtpa of LNG, inclusive of debottlenecking opportunities. The Sabine Pass LNG terminal also has operational regasification facilities that include five LNG storage tanks, vaporizers, and three marine berths. Cheniere Partners also owns the Creole Trail Pipeline, which interconnects the Sabine Pass LNG terminal with a number of large interstate and intrastate pipelines.

For additional information, please refer to the Cheniere Partners website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, filed with the Securities and Exchange Commission.

Use of Non-GAAP Financial Measures

In addition to disclosing financial results in accordance with U.S. GAAP, the accompanying news release contains a non-GAAP financial measure. Adjusted EBITDA is a non-GAAP financial measure that is used to facilitate comparisons of operating performance across periods. This non-GAAP measure should be viewed as a supplement to and not a substitute for our U.S. GAAP measures of performance and the financial results calculated in accordance with U.S. GAAP, and the reconciliation from these results should be carefully evaluated.

Non-GAAP measures have limitations as an analytical tool and should not be considered in isolation or in lieu of an analysis of our results as reported under GAAP and should be evaluated only on a supplementary basis.

Forward-Looking Statements

This press release contains certain statements that may include “forward-looking statements.” All statements, other than statements of historical or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, (i) statements regarding Cheniere Partners’ financial and operational guidance, business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding Cheniere Partners’ anticipated quarterly distributions and ability to make quarterly distributions at the base amount or any amount, (iii) statements regarding regulatory authorization and approval expectations, (iv) statements expressing beliefs and expectations regarding the development of Cheniere Partners’ LNG terminal and liquefaction business, (v) statements regarding the business operations and prospects of third-parties, (vi) statements regarding potential financing arrangements, (vii) statements regarding future discussions and entry into contracts, and (viii) statements relating to our goals, commitments and strategies in relation to environmental matters. Although Cheniere Partners believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere Partners’ actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere Partners’ periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere Partners does not assume a duty to update these forward-looking statements.

Cheniere Energy Partners, L.P.

Consolidated Statements of Operations

(in millions, except per unit data)(1)

(unaudited)

  Three Months Ended

Six Months Ended

June 30,

June 30,

2026

2025

2026

2025

Revenues

LNG revenues

$

1,902

$

1,857

$

4,605

$

4,124

LNG revenues—affiliate

631

549

1,477

1,220

Regasification revenues

34

34

68

68

Other revenues

16

15

33

32

Total revenues

2,583

2,455

6,183

5,444

Operating costs and expenses

Cost of sales (excluding operating and maintenance expense and depreciation and amortization expense shown separately below)(2)

765

1,196

3,481

2,899

Cost of sales—affiliate

—

—

46

—

Operating and maintenance expense

230

289

456

492

Operating and maintenance expense—affiliate

45

42

93

86

Operating and maintenance expense—related party

—

13

—

28

General and administrative expense

3

2

6

6

General and administrative expense—affiliate

23

24

47

47

Depreciation and amortization expense

174

171

348

342

Other operating costs and expenses

2

2

4

2

Other operating costs and expenses—affiliate

1

1

1

1

Total operating costs and expenses

1,243

1,740

4,482

3,903

Income from operations

1,340

715

1,701

1,541

Other income (expense)

Interest expense, net of capitalized interest

(183

)

(188

)

(364

)

(378

)

Other income, net

2

4

7

9

Other income—affiliate

2

22

3

22

Total other expense

(179

)

(162

)

(354

)

(347

)

Net income

$

1,161

$

553

$

1,347

$

1,194

Basic and diluted net income per common unit(1)

$

2.14

$

0.91

$

2.33

$

1.99

Weighted average basic and diluted number of common units outstanding

484

484

484

484

Cheniere Energy Partners, L.P.

Consolidated Balance Sheets

(in millions, except unit data) (1)

(unaudited)

  June 30,

December 31,

2026

2025

ASSETS

Current assets

Cash and cash equivalents

$

443

$

182

Restricted cash and cash equivalents

23

19

Trade and other receivables, net of current expected credit losses

349

511

Trade and other receivables—affiliate

296

238

Advances to affiliates

165

145

Inventory

165

180

Prepaid expenses

62

42

Other current assets, net

16

21

Other current assets—affiliate

1

—

Total current assets

1,520

1,338

Property, plant and equipment, net of accumulated depreciation

15,034

15,259

Operating lease assets

74

76

Deferred NPNS assets

669

—

Derivative assets

5

541

Other non-current assets, net

377

223

Total assets

$

17,679

$

17,437

LIABILITIES AND PARTNERS’ EQUITY

Current liabilities

Accounts payable

$

82

$

53

Accrued liabilities

693

990

Current debt, net of unamortized discount and debt issuance costs

109

306

Due to affiliates

43

57

Deferred revenue

102

119

Current portion of deferred NPNS liabilities

103

—

Current derivative liabilities

93

164

Other current liabilities

12

15

Other current liabilities—affiliate

5

4

Total current liabilities

1,242

1,708

Long-term debt, net of unamortized discount and debt issuance costs

14,335

14,161

Deferred NPNS liabilities

1,081

—

Derivative liabilities

27

900

Other non-current liabilities

221

231

Other non-current liabilities—affiliate

19

23

Total liabilities

16,925

17,023

Partners’ equity

Common unitholders’ interest (484 million units issued and outstanding at both June 30, 2026 and December 31, 2025)

3,692

3,156

General partner’s interest (2% interest with 10 million units issued and outstanding at both June 30, 2026 and December 31, 2025)

(2,938

)

(2,742

)

Total partners’ equity

754

414

Total liabilities and partners’ equity

$

17,679

$

17,437

Reconciliation of Non-GAAP Measures

Regulation G Reconciliations

Adjusted EBITDA

The following table reconciles our Adjusted EBITDA to U.S. GAAP results for the three and six months ended June 30, 2026 and 2025 (in millions):

  Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

Net income

$

1,161

$

553

$

1,347

$

1,194

Interest expense, net of capitalized interest

183

188

364

378

Other income, net

(2

)

(4

)

(7

)

(9

)

Other income—affiliate

(2

)

(22

)

(3

)

(22

)

Income from operations

$

1,340

$

715

$

1,701

$

1,541

Adjustments to reconcile income from operations to Adjusted EBITDA:

Depreciation and amortization expense

174

171

348

342

Loss (gain) from changes in fair value of commodity derivatives, net (1)

(526

)

(160

)

114

(119

)

Amortization of deferred NPNS assets and liabilities

(5

)

—

(5

)

—

Adjusted EBITDA

$

983

$

726

$

2,158

$

1,764

Adjusted EBITDA is commonly used as a supplemental financial measure by our management and external users of our Consolidated Financial Statements to assess the financial performance of our assets without regard to financing methods, capital structures, or historical cost basis. Adjusted EBITDA is not intended to represent cash flows from operations or net income as defined by U.S. GAAP and is not necessarily comparable to similarly titled measures reported by other companies.

We believe Adjusted EBITDA provides relevant and useful information to management, investors and other users of our financial information in evaluating the effectiveness of our operating performance in a manner that is consistent with management’s evaluation of financial and operating performance.

Adjusted EBITDA is calculated by taking net income before interest expense, net of capitalized interest, depreciation and amortization, and adjusting for the effects of certain non-cash items, other non-operating income or expense items and other items not otherwise predictive or indicative of ongoing operating performance, including the effects of modification or extinguishment of debt, impairment expense, gain or loss on disposal of assets, changes in the fair value of our commodity derivatives prior to contractual delivery or termination, and amortization of deferred NPNS assets and liabilities. Changes in the fair value of commodity derivatives and amortization of deferred NPNS assets and liabilities are considered in determining Adjusted EBITDA given that the timing of recognizing gains and losses on these derivative contracts differs from the recognition of the related item economically hedged. We believe the exclusion of these items enables investors and other users of our financial information to assess our sequential and year-over-year performance and operating trends on a more comparable basis and is consistent with management’s own evaluation of performance.

More News From Cheniere Energy Partners, L.P.

The market expects Cheniere Energy (LNG - Free Report) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on August 6, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis natural gas company is expected to post quarterly earnings of $2.80 per share in its upcoming report, which represents a year-over-year change of -61.6%.

Revenues are expected to be $5.03 billion, up 8.4% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 1.91% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Cheniere Energy?For Cheniere Energy, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +3.69%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that Cheniere Energy will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Cheniere Energy would post earnings of $3.91 per share when it actually produced earnings of $4.77, delivering a surprise of +21.99%.

Over the last four quarters, the company has beaten consensus EPS estimates three times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Cheniere Energy appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

An Industry Player's Expected ResultsMagnolia Oil & Gas Corp (MGY - Free Report) , another stock in the Zacks Oil and Gas - Exploration and Production - United States industry, is expected to report earnings per share of $0.9 for the quarter ended June 2026. This estimate points to a year-over-year change of +109.3%. Revenues for the quarter are expected to be $438.34 million, up 37.4% from the year-ago quarter.

Over the last 30 days, the consensus EPS estimate for Magnolia Oil & Gas Corp has been revised 21.7% down to the current level. Nevertheless, the company now has an Earnings ESP of -2.04%, reflecting a lower Most Accurate Estimate.

This Earnings ESP, combined with its Zacks Rank #3 (Hold), makes it difficult to conclusively predict that Magnolia Oil & Gas Corp will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

While liquefied natural gas (LNG) stocks, such as Cheniere Energy (LNG 1.64%), have been traded as a proxy for negotiations over the immediate reopening of the Strait of Hormuz, the reality is that the impact will last longer than many think. In addition, Cheniere recently provided a positive update on the most important part of the stock's investment case.

The company recently told investors about "the substantial completion of Train 6 of the Corpus Christi Liquefaction (CCL) Stage 3 Project in Texas." LNG trains are "trains" of independent equipment that take natural gas and convert it into LNG for export. The more trains, the more LNG export capacity.

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Cheniere plans seven additional mid-scale trains for CCL, adding more than 10 million tonnes per annum (mtpa) and raising CCL's capacity above 25 mtpa, as well as the overall company capacity to 55 mtpa. Another two trains (8 & 9) will add 5 mtpa by the end of 2028, and expansion projects at Sabine Pass (SBL) mean the company has "line of sight to potentially surpass 100 mtpa of LNG production capacity by the mid-2030s."

For reference, Qatar exported about 110 mtpa via the Strait in 2025.

Why it matters to investors Cheniere de-risks its expansion projects by signing long-term offtake agreements before making an investment decision, so one of the greatest risks in its business is the execution and timing of expansions. As such, the news that CCL is on track is excellent.

Image source: Getty Images.

Moreover, thinking longer-term, a reopening of the Strait will obviously ease concerns about LNG supply. Still, it will take years for Qatar to fully restore the 17% of its capacity damaged by attacks. In addition, energy companies usually sign long-term LNG supply contracts, and they might not be as willing to do so with Qatar/UAE now, given the ongoing instability in the region and Iran's demonstrated ability and willingness to close the Strait. And there's the question of insurers charging extra premiums for shipping through the Strait.

As such, even if a ceasefire holds and the Strait is permanently reopened, the threat of future disruption may still confer a competitive advantage on Cheniere. It may also negatively affect Qatar's financial viability in pursuing its own expansion plans.

Lee Samaha has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Cheniere Energy. The Motley Fool has a disclosure policy.