Additional liquefaction trains operating at its Sabine Pass LNG project drove net income higher for Houston-based Cheniere Energy Partners. Cheniere reported US$385M in net income for Q1 2019, compared to US$335M for the comparable 2018 period.
Cheniere Energy Partners reported adjusted EBITDA for Q1 2019 was US$607M, compared to US$659M for Q1 2018 primarily due to decreased adjustments for non-cash operating expenses.
Income from operations increased US$55M during Q1 2019 as compared to Q1 2018 due to increased net gain from changes in fair value of commodity derivatives and an increase in LNG volumes recognised in income due to additional trains in operation at the Sabine Pass LNG project.
During Q1 2019, 77 LNG cargoes were exported from the Sabine Pass LNG project, three of which were commissioning cargoes, and five cargoes were exported and sold on a delivered basis, none of which were commissioning cargoes.
Trains 1 to 5 are in operation at Sabine Pass LNG terminal located in Cameron Parish, Louisiana. Work is underway on train 6 in anticipation of a positive FID. Each train is expected to have a nominal production capacity of approximately 4.5 mta of LNG.