Houston-based LNG player Cheniere Energy reported a net loss of $70.8 million and $410 million for the three months and year ended December 31, 2014, compared to a net loss of $61.3 million and $258.1 million for the same periods in 2013,
Significant items contributing to losses of $29.8 million and $242.8 million for the three months and year ended December 31, 2014, are related to development expenses primarily for the fifth and sixth natural gas liquefaction trains the company is developing through Sabine Pass Liquefaction at the Sabine Pass LNG terminal adjacent to the existing regasification facilities, the company said in a statement.
Sabine Pass liquefaction project
Cheniere continues to make progress on the Liquefaction project, which is being developed for up to six Trains, each with a nominal production capacity of approximately 4.5 million tonnes per annum.
The Trains are in various stages of development.
The company will look into the possibility of making a final investment decision to commence construction of Train 5 and Train 6 based on, among other things, entering into engineering, procurement and construction contracts, entering into acceptable commercial arrangements, receiving all regulatory approvals and obtaining financing.
Corpus Christi Liquefaction Project
The company also continues to make progress on the commercialization and development of the Corpus Christi Liquefaction project, which is being designed for up to three Trains with expected aggregate nominal production capacity of approximately 13.5 mtpa of LNG.
The company 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 completing financing.
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Image: Cheniere