Cheniere Energy reported a net loss of $154.8 million for the three months ended June 30, 2013, compared to a net loss of $73.0 million for the comparable 2012 period.
For the six months ended June 30, 2013, Cheniere reported a net loss of $271.9 million, compared to a net of $129.5 million during the corresponding period of 2012.
Liquefaction Projects Update
Sabine Pass Liquefaction Project
Cheniere Partners continues to make progress on the Sabine Pass Liquefaction Project, which is being developed for up to six natural gas liquefaction trains, each with a design production capacity of approximately 4.5 mtpa. The company has received all Federal Energy Regulatory Commission (FERC) and Department of Energy (DOE) approvals for Trains 1 through 4, and it is also seeking regulatory authorization to develop Trains 5 and 6. The Trains are in various stages of development.
Corpus Christi Liquefaction Project
As currently contemplated, the Corpus Christi Liquefaction Project is being designed for up to three Trains with aggregate design production capacity of up to 15 mtpa. Cheniere engaged Bechtel to complete front-end engineering and design work and the company expects to have project cost estimates in the second half of 2013.
In August 2012, Cheniere filed applications with the FERC for authorization to site, construct and operate the Corpus Christi Liquefaction Project and with the DOE requesting multi-contract authorization to export up to 767 Bcf per year (approximately 15 mtpa) of domestically produced LNG from the Corpus Christi Liquefaction Project to FTA and non-FTA countries. In October 2012, the DOE granted Cheniere authority to export 15 mtpa of domestically produced LNG to FTA countries from the Corpus Christi Liquefaction Project.
Cheniere said it will contemplate making a final investment decision to commence construction of the Corpus Christi Liquefaction Project based upon, among other things, entering into acceptable commercial arrangements, receiving all regulatory approvals and obtaining financing.
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LNG World News Staff, August 2, 2013; Image: Cheniere