Cheniere Energy reported Q1-2014 net loss of $97.8 million, narrowing from a net loss $117.1 million in Q1-2013. The $19.3 million decrease in net loss was primarily a result of decreased G&A expenses and decreased LNG terminal development expenses.
The company also posted Q1-2014 revenue of $67.5 million, up 2% YoY.
Sabine Pass Liquefaction Project status
· Received FERC and DOE approvals for first four trains
· Project for Trains 1 and 2 is 63% complete; Train 1 to produce LNG in 2015
· Construction on Trains 3 and 4 is 27% complete; Trains 3 and 4 to come online in late 2016 and 2017, respectively
· Progressing on Trains 5 and 6 developments; received DOE authorizations to export 503 Bcf of LNG volumes from Trains 5 and 6 to FTA countries; Non-FTA authorization is pending
Corpus Christi Liquefaction Project status
· Received authorization from the DOE to export up to 2 Bcf/d
· Authorization to export LNG to non-FTA countries pending
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