For the quarter ended March 31, 2012, Cheniere Energy Partners reported a net loss of $19.3 million compared with a net loss of $2.2 million for the same period in 2011.
Results include development expenses for the Sabine Pass Liquefaction Project of $17.9 million for the quarter ended March 31, 2012 and $7.5 million for the comparable 2011 period.
Overview of Significant 2012 Events
Q1 2012 Results Cheniere Partners reported income from operations of $24.9 million for the quarter ended March 31, 2012, compared to income from operations of $41.1 million for the comparable 2011 period. The decrease in income from operations of $16.2 million quarter over quarter was primarily due to an increase in development expenses of $10.4 million and a decrease in revenues of $5.1 million. Development expenses include costs incurred to develop the Liquefaction Project.
[mappress] LNG World News Staff, May 4, 2012