Cheniere narrows second-quarter loss

Cheniere narrows second-quarter loss
Image courtesy of Cheniere

US LNG export player Cheniere reported a net loss of $18 million for the second quarter of 2018, compared to a net loss of $285 million for the comparable 2017 period. 

The decrease in net loss was primarily due to increased income from operations as a result of additional trains in operation at the Sabine Pass LNG project, the company said in its quarterly report.

Net income for the first six months of the year rose to $339 million, after a $231 million net loss in the comparable period last year.

Total revenues rose 24 and 54 percent for the second quarter and the first six months periods, respectively, reaching $1.5 billion for the quarter and $3.8 billion for the first half of the year.

During the three and six months ended June 30, 61 and 128 LNG cargoes, respectively, were exported from the Sabine Pass LNG project, none of which were commissioning cargoes. One cargo exported from the facility and sold on a delivered basis was in transit as of June 30, 2018.

“Our results for the second quarter of 2018 reflect strong operational performance and continued robust and durable LNG market pricing,” Jack Fusco, Cheniere’s president and CEO.

He further noted the company a positive FID on the third train at the Corpus Christi liquefaction project.

 

Share this article

Follow LNG World News

Posted on August 10, 2018 with tags .

Events>

<< Aug 2018 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

Offshore Energy Exhibition & Conference 2018

Offshore Energy Exhibition & Conference (OEEC) is Europe’s leading offshore energy event.

read more >

Oil and Gas 2018

The conference will cover a wide range of topics and allow participants to discuss about the new technologies developed in Petroleum…

read more >

Gastech Exhibition & Conference 2018

The leading exhibition and conference for the global gas, LNG and energy industries.

read more >

Singapore International Bunkering Conference and Exhibition (SIBCON)

The 20th edition of the Singapore International Bunkering Conference and Exhibition (SIBCON) will be about inspiring change…

read more >