Cheniere Energy reports drop in net income

As it works toward completion of a nearly $1 billion new pipeline in Oklahoma’s STACK and SCOOP plays, Houston’s Cheniere Energy Partners L.P. reported a second quarter drop in net income of $232 million. The company had net income of $281 million in the second quarter of 2018.

The firm’s net income for the six months ending June 30, 2019 was $617 million compared to $616 million reported a year ago.

The company stated that the decrease in net income for the three months that ended June 30, 2019 was due to increased total operating costs and expenses as a result of additional Trains in operation and certain maintenance, lower margins per MMBtu ofLNG and increased interest expense.

Total revenues for the quarter were $1.7 billion up from the $1.4 billion reported at the end of the second quarter 2018. Total revenues for the first six months of 2019 were $3.4 billion, more than the $3 billion reported in the first six months of 2018.

Adjusted EBITDA was $591 million in the second quarter 2019, up from the $562 million a year earlier.

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

 

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