HOUSTON, Oct. 30, 2015 /PRNewswire/ -- Cheniere Energy, Inc. ("Cheniere") (NYSE MKT: LNG) reported a net loss attributable to common stockholders of $297.8 million, or $1.31 per share (basic and diluted), for the three months ended September 30, 2015, compared to a net loss attributable to common stockholders of $89.6 million, or $0.40 per share (basic and diluted), for the comparable 2014 period. For the nine months ended September 30, 2015, Cheniere reported a net loss attributable to common stockholders of $684.0 million, or $3.02 per share (basic and diluted), compared to a net loss attributable to common stockholders of $389.3 million, or $1.74 per share (basic and diluted), during the corresponding period of 2014.

Significant items for the three months ended September 30, 2015 resulted in a loss of $134.2 million and are related to derivative loss primarily associated with the changes in long-term LIBOR during the period, and development expense, partially offset by changes in operating and maintenance expense associated with the increase in fair value of certain natural gas purchase agreements related to gas procurement for the liquefaction project currently under construction at the Sabine Pass LNG terminal adjacent to the existing regasification facilities (the "Sabine Pass Liquefaction Project"). Significant items for the nine months ended September 30, 2015 resulted in a loss of $343.8 million and are related to derivative loss, loss on early extinguishment of debt, and development expense, partially offset by changes in operating and maintenance expense described above.

Included in general and administrative expense were non-cash compensation expenses of $27.1 million and $85.2 million for the three and nine months ended September 30, 2015, respectively, compared to $21.2 million and $80.4 million for the comparable 2014 periods, respectively.

Results are reported on a consolidated basis and include our ownership interest in Cheniere Energy Partners, L.P. ("Cheniere Partners") (NYSE MKT: CQP), which is based on our 100% ownership of the general partner of Cheniere Partners and 80.1% ownership interest in Cheniere Energy Partners LP Holdings, LLC (NYSE MKT: CQH) which owns a 55.9% limited partner interest in Cheniere Partners.

Recent Significant Events


    --  In July 2015, we entered into a liquefied natural gas ("LNG") Sale and
        Purchase Agreement ("SPA") with Central El Campesino for approximately
        0.6 million tonnes per annum ("mtpa") through our subsidiary, Cheniere
        Marketing International LLP ("Cheniere Marketing"). Volumes are to be
        delivered ex-ship ("DES") for 20 years beginning in 2019 from the
        liquefaction project currently under construction near Corpus Christi,
        Texas (the "Corpus Christi Liquefaction Project").
    --  Cheniere Marketing entered into LNG sales arrangements with
        Électricité de France, S.A. ("EDF") for the delivery of LNG cargoes on
        a DES basis. The sales arrangements with EDF cover the delivery of up to
        approximately 189 million MMBtus total through 2018.
    --  Sabine Pass Liquefaction, LLC ("SPL") entered into a $1.2 billion
        working capital facility that will be used primarily for certain working
        capital requirements related to developing and placing into operation
        the Sabine Pass Liquefaction Project.

Liquefaction Projects Update

Sabine Pass Liquefaction Project

Through Cheniere Partners, we are developing up to six natural gas liquefaction trains ("Trains"), each with an expected nominal production capacity of approximately 4.5 mtpa of LNG, at the Sabine Pass LNG terminal adjacent to the existing regasification facilities.

The Trains are in various stages of development:


    --  Construction on Trains 1 and 2 began in August 2012, and as of September
        30, 2015, the overall project completion percentage for Trains 1 and 2
        was approximately 95.2%, which is ahead of the contractual schedule.
        Based on our current construction schedule, we anticipate that Train 1
        will produce LNG as early as late 2015.
    --  Construction on Trains 3 and 4 began in May 2013, and as of September
        30, 2015, the overall project completion percentage for Trains 3 and 4
        was approximately 73.6%, which is ahead of the contractual schedule. We
        expect Trains 3 and 4 to become operational in late 2016 and 2017,
        respectively.
    --  The permitting process for Trains 5 and 6 has been completed. In April
        2015, Cheniere Partners received U.S. Federal Energy Regulatory
        Commission ("FERC") authorization to site, construct, and operate Trains
        5 and 6. In June 2015, Cheniere Partners received authorization from the
        U.S. Department of Energy ("DOE") to export LNG to non-free trade
        agreement ("non-FTA") countries.
    --  Construction on Train 5 began on June 30, 2015, and we expect Train 5 to
        commence operations as early as 2018. We expect to commence construction
        on Train 6 upon entering into acceptable commercial arrangements and
        obtaining adequate financing.

Corpus Christi Liquefaction Project

We are developing up to five Trains, each with an expected nominal production capacity of approximately 4.5 mtpa of LNG, as part of the Corpus Christi Liquefaction Project.

The Trains are in various stages of development:


    --  Construction on Trains 1 and 2 began in May 2015. As of September 30,
        2015, the overall project completion percentage for Trains 1 and 2 was
        approximately 22.8%, with engineering, procurement and construction
        approximately 82.0%, 32.0% and less than 1% complete, respectively. The
        construction of the Corpus Christi Pipeline is planned to commence in
        2016.
    --  We have entered into an SPA for approximately 0.8 mtpa of LNG volumes
        that commence with Train 3 and will contemplate making an FID to
        commence construction upon entering into additional SPAs. To date, we
        have obtained sufficient financing commitments and all necessary
        regulatory permits required to support the development of Trains 1
        through 3.
    --  Trains 4 and 5 are under development. We have initiated the regulatory
        process by filing the NEPA pre-filing request with the FERC and
        requesting authorization from the DOE to export LNG to both FTA and
        non-FTA countries. In August, the DOE granted authorization to export
        LNG from Trains 4 and 5 to FTA countries.

Timelines for Liquefaction Projects



                           Target Date
                           -----------

                          SPL               CCL
                          ---               ---

    Milestone           Trains             Trains                 Trains               Trains
                         1 - 4             5 & 6                  1 - 3                4 & 5
    ---                  -----             -----                  -----                -----

    DOE export
     authorization     Received           Received               Received                     2017

    Definitive
     commercial
     agreements        Completed       T5: Completed              T1-T2:
                                                  T6: 2015/2016 Completed
                       16.0 mtpa
                                                                         T3: 2015/2016

    -BG Gulf Coast
     LNG, LLC          5.5 mtpa

    -Gas Natural
     Fenosa            3.5 mtpa

    - KOGAS             3.5 mtpa

    -GAIL (India)
     Ltd.               3.5 mtpa

    -Total Gas &
     Power N.A.                           2.0 mtpa

    - Centrica plc                       1.75 mtpa

    -PT Pertamina
     (Persero)                                                  1.52 mtpa

    - Endesa, S.A.                                              2.25 mtpa

    - Iberdrola, S.A.                                           0.76 mtpa

    -Gas Natural
     Fenosa LNG SL                                              1.50 mtpa

    -Woodside Energy
     Trading
     Singapore                                                  0.85 mtpa

    -Électricité de
     France, S.A.                                               0.77 mtpa

    -EDP Energias de
     Portugal S.A.                                              0.77 mtpa

    EPC contracts      Completed       T5: Completed            Completed
                                                  T6: 2015/2016

    Financing          Completed       T5: Completed            Completed
                                                  T6: 2015/2016

    FERC
     authorization     Completed         Completed              Completed                     2017

    Issue Notice to
     Proceed           Completed       T5: Completed              T1-T2:                      2017
                                                  T6: 2015/2016 Completed
                                                                         T3: 2015/2016

    Commence
     operations       2015 - 2017                     2018/2019              2018/2019        2021

Cheniere Energy, Inc. is a Houston-based energy company primarily engaged in LNG-related businesses and owns and operates the Sabine Pass LNG terminal and Creole Trail Pipeline in Louisiana. Cheniere is pursuing related business opportunities both upstream and downstream of the Sabine Pass LNG terminal. Through its subsidiary, Cheniere Partners, Cheniere is developing a liquefaction project at the Sabine Pass LNG terminal adjacent to the existing regasification facilities for up to six Trains, each of which is expected to have a nominal production capacity of approximately 4.5 mtpa of LNG. Construction has begun on Trains 1 through 5 of the Sabine Pass Liquefaction Project. Cheniere is also developing liquefaction facilities near Corpus Christi, Texas. The Corpus Christi Liquefaction Project is being designed for up to five Trains, with expected aggregate nominal production capacity of approximately 22.5 mtpa of LNG, four LNG storage tanks with capacity of approximately 13.5 Bcfe and two LNG carrier docks. Construction has begun on the first two Trains of the Corpus Christi Liquefaction Project. Cheniere has agreed in principle to partner with Parallax Enterprises, LLC for the development of up to 11 mtpa of LNG production capacity through Parallax's two mid-scale natural gas liquefaction projects, Live Oak LNG and Louisiana LNG.

For additional information, please refer to the Cheniere website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended September 30, 2015, filed with the Securities and Exchange Commission.

This press release contains certain statements that may include "forward-looking statements" within the meanings of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Included among "forward-looking statements" are, among other things, (i) statements regarding Cheniere's business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding expectations regarding regulatory authorizations and approvals, (iii) statements expressing beliefs and expectations regarding the development of Cheniere's LNG terminal and pipeline businesses, including liquefaction facilities, (iv) statements regarding the business operations and prospects of third parties, (v) statements regarding potential financing arrangements and (vi) statements regarding future discussions and entry into contracts. Although Cheniere believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere's periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere does not assume a duty to update these forward-looking statements.

(Financial Tables Follow)



                                                                             Cheniere Energy, Inc.

                                                                     Consolidated Statements of Operations

                                                                   (in thousands, except per share data)(1)

                                                                                  (unaudited)


                                              Three Months Ended                                            Nine Months Ended

                                               September 30,                                           September 30,
                                               -------------                                           -------------

                                        2015                    2014                      2015                               2014
                                        ----                    ----                      ----                               ----

    Revenues

    LNG terminal revenues                       $67,212                                           $66,983                             $202,698       $200,243

    Marketing and trading revenues
     (losses)                        (1,557)                              (499)                              (1,601)                     482

    Other                                404                                 323                                 1,356                    1,277
                                         ---                                 ---                                 -----                    -----

    Total revenues                    66,059                              66,807                               202,453                  202,002


    Operating costs and expenses

    Operating and maintenance
     expense (income)                (6,251)                             25,908                                49,319                   69,262

    Depreciation expense              21,638                              16,189                                59,561                   48,962

    Development expense                4,935                              11,544                                37,640                   38,919

    General and administrative
     expense                          97,332                              74,255                               263,205                  215,783

    Other                                479                                  75                                   920                      245
                                         ---                                 ---                                   ---                      ---

    Total operating costs and
     expenses                        118,133                             127,971                               410,645                  373,171
                                     -------                             -------                               -------                  -------


    Loss from operations            (52,074)                           (61,164)                            (208,192)                (171,169)


    Other income (expense)

    Interest expense, net of
     capitalized interest           (93,566)                           (46,884)                            (238,664)                (130,943)

    Loss on early extinguishment
     of debt                               -                                  -                             (96,273)               (114,335)

    Derivative gain (loss), net    (161,482)                              5,379                             (242,123)                 (89,222)

    Other income (expense)              (39)                              (160)                                  616                     (39)
                                         ---                                ----                                   ---                      ---

    Total other expense            (255,087)                           (41,665)                            (576,444)                (334,539)
                                    --------                             -------                              --------                 --------


    Loss before income taxes and
     non-controlling interest      (307,161)                          (102,829)                             (784,636)                (505,708)

    Income tax benefit (expense)          69                             (1,971)                                (102)                 (2,147)
                                         ---                              ------                                  ----                   ------

    Net loss                       (307,092)                          (104,800)                             (784,738)                (507,855)

    Less: net loss attributable to
     non-controlling interest        (9,284)                           (15,219)                            (100,726)                (118,536)
                                      ------                             -------                              --------                 --------

    Net loss attributable to
     common stockholders                     $(297,808)                                        $(89,581)                          $(684,012)    $(389,319)
                                              =========                                          ========                            =========      =========


    Net loss per share
     attributable to common
     stockholders-basic and
     diluted                                    $(1.31)                                          $(0.40)                             $(3.02)       $(1.74)
                                                 ======                                            ======                               ======         ======


    Weighted average number of
     common shares outstanding-
     basic and diluted               227,126                             224,309                               226,648                  223,710


    _______________________

             (1)    Please refer to the Cheniere Energy, Inc. Quarterly
                     Report on Form 10-Q for the quarter ended
                     September 30, 2015, filed with the Securities and
                     Exchange Commission.


                                                        Cheniere Energy, Inc.

                                                     Consolidated Balance Sheets

                                                (in thousands, except share data)(1)


                                                        September 30,                December 31,

                                                                 2015                             2014
                                                                 ----                             ----

                         ASSETS                          (unaudited)

    Current assets

    Cash and cash equivalents                                             $1,340,262                      $1,747,583

    Restricted cash                                           652,225                            481,737

    Accounts and interest receivable                            6,645                              4,419

    LNG inventory                                               9,032                              4,294

    Other current assets                                       78,108                             20,844
                                                               ------                             ------

    Total current assets                                    2,086,272                          2,258,877


    Non-current restricted cash                               118,909                            550,811

    Property, plant and equipment,
     net                                                   15,225,250                          9,246,753

    Debt issuance costs, net                                  640,399                            242,323

    Non-current derivative assets                              30,770                             11,744

    Goodwill                                                   76,819                             76,819

    Other non-current assets                                  273,840                            186,356
                                                              -------                            -------

    Total assets                                                         $18,452,259                     $12,573,683
                                                                         ===========                     ===========


                 LIABILITIES AND STOCKHOLDERS' EQUITY

    Current liabilities

    Accounts payable                                                         $11,558                         $13,426

    Accrued liabilities                                       457,901                            169,129

    Deferred revenue                                           26,653                             26,655

    Derivative liabilities                                     33,839                             23,247

    Other current liabilities                                     268                                 18
                                                                  ---                                ---

    Total current liabilities                                 530,219                            232,475


    Long-term debt, net                                    15,835,910                          9,806,084

    Non-current deferred revenue                               10,500                             13,500

    Non-current derivative
     liabilities                                              125,473                                267

    Other non-current liabilities                              85,226                             19,840


    Commitments and contingencies


    Stockholders' equity

    Preferred stock, $0.0001 par
     value, 5.0 million shares
     authorized, none issued                                        -                                 -

    Common stock, $0.003 par value

    Authorized: 480.0 million shares at September 30,
     2015 and December 31, 2014

    Issued and outstanding: 236.0
     million shares and 236.7 million
     shares at September 30, 2015 and
     December 31, 2014, respectively                              708                                712

    Treasury stock: 11.2 million
     shares and 10.6 million shares
     at September 30, 2015 and
     December 31, 2014, respectively,
     at cost                                                (337,057)                         (292,752)

    Additional paid-in-capital                              3,029,317                          2,776,702

    Accumulated deficit                                   (3,332,851)                       (2,648,839)
                                                           ----------                         ----------

    Total stockholders' deficit                             (639,883)                         (164,177)

    Non-controlling interest                                2,504,814                          2,665,694
                                                            ---------                          ---------

    Total equity                                            1,864,931                          2,501,517
                                                            ---------                          ---------

    Total liabilities and equity                                         $18,452,259                     $12,573,683
                                                                         ===========                     ===========


    __________________________

             (1)    Please refer to the Cheniere Energy, Inc. Quarterly Report
                     on Form 10-Q for the quarter ended September 30, 2015,
                     filed with the Securities and Exchange Commission.

As of September 30, 2015, we had cash and cash equivalents of $1,340.3 million available to Cheniere. In addition, we had current and non-current restricted cash and cash equivalents of $771.1 million (which included current and non-current restricted cash and cash equivalents available to Cheniere Partners, SPL, Sabine Pass LNG, L.P., and Cheniere Corpus Christi Holdings, LLC.) designated for the following purposes: $327.2 million for the Sabine Pass Liquefaction Project, $11.3 million for Cheniere Creole Trail Pipeline, L.P., $129.1 million for interest payments related to the Sabine Pass LNG, L.P. senior secured notes, $71.3 million for the Corpus Christi Liquefaction Project, and $232.2 million for other restricted purposes.

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SOURCE Cheniere Energy, Inc.