J P M O R G A N Eli Jossen, CFA (1-212) 622-4113 eli.jossen@jpmchase.com Francina Kolluri (1-212) 270-5796 francina.kolluri@jpmchase.com North America Equity Research 23 July 2026 Cheniere Thoughts Into 2Q26: CCL3 Contributions, No Turnaround Activity Set Up Strong Quarter After speaking with the company and marking to market commodity prices, we model a $1,590mm 2Q26 adj EBITDA result, versus the $1,457mm prior JPMe and $1,700mm Street median. On the 1Q call, management noted 1Q as likely the lowest quarte ...