Cheniere Partners posts second-quarter profit drop

Cheniere Partners, a partnership established by the Houston-based LNG exporter Cheniere Energy reported lower second-quarter net profit as operating expenses increased. 

The partnership reported a net income of $232 million and $617 million, respectively, for the three and six months ended June 30, 2019, compared to net income of $281 million and $616 million for the comparable 2018 periods.

The decrease in net income for the three months ended June 30, 2019, as compared to the comparable 2018 period was primarily due to increased total operating costs and expenses as a result of additional Trains in operation and certain maintenance and related activities at the Sabine Pass liquefaction project.

This was partially offset by increased volumes of LNG recognized in income primarily as a result of additional trains in operation.

Income from operations increased $55 million during the six months ended June 30, 2019, as compared to the six months ended June 30, 2018.

During the three months ended June 30, 2019, 85 LNG cargoes were exported from Sabine Pass, none of which were commissioning cargoes. During the six months ended June 30, 2019, 162 LNG cargoes were exported from the Sabine Pass LNG plant, of which three were commissioning cargoes.