Cheniere Energy’s profits fell in 3Q


Cheniere Energy beat expectations of Wall Street analysts in its third quarter earnings.

The company, with the Midship natural gas pipeline running from Kingfisher to southern Oklahoma, had revenue of $4.2 billion in the quarter. But it was lower than the $8.9 billion posted a year ago. The profit also totaled $7.03 a share.

The company blamed the drop in revenue on lower natural gas prices at the U.S. benchmark Henry Hub. Still, Cheniere said it had a $1.4 billion gain related to the value of its erivative portfolio, reported Bloomberg.