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Global LNG markets are on fire right now as the Iran War continues.

Cheniere Energy's Train 5 at its Corpus Christi liquefied natural gas expansion project is now operating ​at full capacity, the company said on Friday.

Markets have been rallying lately on optimism about a possible end to the war in Iran. However, lasting damage to the world's supply of liquified natural gas could leave prices elevated long after a resolution is reached—and room to rise for some producers' stocks, according to Goldman Sachs.

Prices spikes could actually encourage customers to wean themselves off liquified natural gas over the long run.

Iran damaged two LNG trains in Qatar, taking 17% of its capacity offline for the next three to five years. Cheniere Energy and Venture Global could capitalize on opportunities to supply the world with more LNG following the war.

U.S. LNG exporter Cheniere Energy's Asian customers ‌are asking for more liquefied natural gas amid the ongoing conflict in the Middle East that has cut supplies from Qatar, CEO Jack Fusco told the CERAWeek conference in Houston on ​Wednesday, adding that his company is already running at full capacity.

Cheniere Energy (NYSE:LNG) has been one of the market's strongest performers in 2026, with shares up 51.94% year-to-date with shares currently trading at $294, approaching the 52-week high of $299.49.