3Q losses reported by Cheniere Energy

The third quarter 2019 resulted in a net loss of $318 million or $1.25 a share for Houston’s Cheniere Energy, Inc. the firm with a $1 billion Midship natural gas pipeline running across Oklahoma.

The loss compared to net income of $65 million or 26 cents a share a year earlier. The company blamed the loss on increased total operating costs and expenses primarily as a result of additional Trains in operation and maintenance.

Cheniere also reported a net loss of $291 million, or $1.13 per share for the nine months ended September 30, 2019, compared to net income of $404 million, or $1.67 per share – basic and $1.65 per share – diluted, for the comparable 2018 period.

Consolidated Adjusted EBITDA for the three months ended September 30, 2019 was $694 million, compared to $569 million for the comparable 2018 period. The increase in Consolidated Adjusted EBITDA was primarily due to additional volumes of LNG recognized in income primarily due to additional Trains in operation, partially offset by decreased margin per MMBtu of LNG recognized in income primarily as a result of decreased pricing on LNG sold by our marketing affiliate, and increased operating costs and expenses primarily as a result of additional Trains in operation and certain maintenance and related activities at the SPL Project.

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