Cheniere Energy reported a net loss of $109.0 million for the three months ended September 30, compared to a net loss of $53.9 million for the comparable 2011 period.
For the nine months ended September 30, Cheniere reported a net loss of $238.5 million, compared to a net loss of $140.9 million during the comparable 2011 period.
For the three months ended September 30 results include significant items of $23.8 million, related to other expenses that primarily consisted of the write-down of a royalty interest and to liquefied natural gas (LNG) terminal and pipeline development expenses primarily for the liquefaction facilities Cheniere Energy Partners is developing and constructing adjacent to the Sabine Pass LNG terminal.
For the nine months ended September 30, results include significant items of $81.2 million, related to LNG terminal and pipeline development expenses for the Sabine Pass Liquefaction Project, losses due to the early extinguishment of debt, and other expenses that primarily consisted of the write-down of a royalty interest.
Results for the three and nine months ended September 30 were also impacted by increases in general and administrative expenses of $63.2 million and $63.1 million, respectively, compared to the comparable 2011 periods primarily due to the August 2012 vesting of awards under the long-term incentive plan related to LNG trains 1 and 2 of the Sabine Pass Liquefaction Project.
Cheniere recorded non-cash compensation expense of $49.8 million and $54.0 million, respectively, for the three and nine months ended September 30, compared to $2.3 million and $16.6 million for the comparable periods in 2011.
These increases were partially offset by a decrease in interest expense of $19.6 million and $34.1 million, respectively, as compared to the comparable 2011 periods.
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LNG World News Staff, November 4, 2012