Financial research concept

LNG Short-Term Delivered Volume

measures LNG from the issuer's liquefaction projects delivered through its integrated marketing function under short-term arrangements.

By Lee BaileyPublished Sep 25, 2026

Research context

See what supports this page, how current it is, and where comparable or historical context is available.

Research date: Sep 25, 2026Use the dated article and cited sources for the definition, examples, and stated limitations.
Operating-model context: 18 connected conceptsPart of the reviewed LNG Export & Liquefaction Economics; issuer definitions remain distinct where disclosed.
Company examples: 1 reviewed companyRelationships reflect supported examples, not a normalized cross-company KPI ranking.

Short-term marketing represented about 13.3% of project-sourced delivered volume
Short-term volume carried much higher revenue per TBtu in 2025
Marketing exposure adds both flexibility and volatility
Part of the LNG Export & Liquefaction Economics
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LNG Short-Term Delivered Volume measures LNG from Cheniere's liquefaction projects delivered through its marketing function under short-term arrangements.

Cheniere reported 321 TBtu in 2025.

Short-term marketing represented about 13.3% of project-sourced delivered volume

Long-term agreement volume was 2,095 TBtu.

The combined project-sourced total was 2,416 TBtu, putting short-term deliveries at approximately 13.3%.

Short-term volume carried much higher revenue per TBtu in 2025

Short-term sales revenue was $3.794 billion.

Dividing by 321 TBtu gives roughly $11.82 million per TBtu, versus about $7.07 million per TBtu for long-term agreements.

That spread is not a pure price comparison because contract structures, destinations, timing, and fee components differ.

Marketing exposure adds both flexibility and volatility

Short-term cargoes can capture favorable global pricing but are more exposed to spot-market conditions and basis movements.

Use LNG Short-Term Sales Revenue to connect volume with realized revenue.

Primary source: Cheniere Energy 2025 Form 10-K.

Part of the LNG Export & Liquefaction Economics

Connect liquefaction capacity, cargo timing, long-term contract coverage, Henry Hub-linked fee structure, marketing volumes, and remaining contracted revenue across an LNG export platform.

Browse the full operating model in Company Analysis →

Where this concept fits

Physical loading, delivery, and revenue recognitionCurrent relationship
Loaded, in-transit, and recognized volumes bridge physical cargo activity to accounting timing, while long-term, short-term, and third-party procured volumes and revenues separate owned-project contract sales from marketing and externally sourced LNG.
LNG In-Transit Volume LNG Loaded Volume LNG Long-Term Agreement Delivered Volume LNG Long-Term Agreement Revenue LNG Recognized VolumeLNG Short-Term Delivered VolumeCurrent conceptLNG Short-Term Sales Revenue LNG Third-Party Procured Revenue LNG Third-Party Procured Volume
Capacity and contract coverage
Total and under-construction liquefaction capacity show the physical production envelope, while contracted-production percentage and weighted-average contract life show how much anticipated output is covered by long-duration customer agreements.
LNG Capacity Under Construction LNG Contract Weighted-Average Remaining Life LNG Long-Term Contracted Production Percentage LNG Total Production Capacity
Fee structure and remaining contract value
Fixed liquefaction fees provide capacity-linked contractual economics, variable fees primarily track Henry Hub-linked feedgas costs, and remaining fixed and variable fee revenue show the scale of future contractual consideration under Cheniere's stated assumptions. Regasification capacity remains a separate import-terminal capability.
LNG Fixed Liquefaction Fee LNG Regasification Capacity LNG Remaining Fixed-Fee Revenue LNG Remaining Variable-Fee Revenue LNG Variable Liquefaction Fee

See It in Company Research

These companies are examples of how the concept is reported or discussed in public filings. Definitions can differ by issuer; these links open company research rather than a normalized metric comparison.

LNGOpen operating-model research →18 of 18 reviewed concepts in LNG Export & Liquefaction EconomicsPhysical loading, delivery, and revenue recognition9 of 9 bridge concepts supportedContinue through this bridge:LNG In-Transit Volume LNG Loaded Volume LNG Long-Term Agreement Delivered Volume LNG Long-Term Agreement Revenue LNG Recognized Volume LNG Short-Term Sales Revenue LNG Third-Party Procured Revenue LNG Third-Party Procured Volume

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Compare public companies

Compare marketing volume with long-term delivered volume and the much higher 2025 revenue intensity per TBtu.

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