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Cheniere Energy Partners, L.P.
Cheniere Energy Partners, L.P. Reports Second Quarter 2017 Results



Aug 11, 2017

Cheniere Energy Partners, L.P. ("Cheniere Partners") (NYSE American: CQP) reported net income of $46 million and $93 million for the three and six months ended June 30, 2017, respectively, compared to net losses of $100 million and $175 million for the comparable periods in 2016.  Adjusted EBITDA1 for the three and six months ended June 30, 2017 was $283 million and $602 million, respectively, compared to $51 million and $63 million for the comparable 2016 periods.

During the three and six months ended June 30, 2017, 48 and 91 LNG cargoes, respectively, were exported from the SPL Project, of which zero and 7, respectively, were commissioning cargoes.

Variances in results of operations for the three and six months ended June 30, 2017 as compared to the three and six months ended June 30, 2016 were primarily driven by the timing of completion of Trains and the length of each Train's operations within the periods being compared. Total revenues increased $841 million and $1.7 billion during the three and six months ended June 30, 2017, respectively, as compared to the three and six months ended June 30, 2016, respectively, primarily due to the increased volume of LNG sold that was recognized as revenues. LNG revenues in the second quarter of 2017 exceeded $900 million.

Total operating costs and expenses increased $654 million and $1.2 billion during the three and six months ended June 30, 2017, respectively, compared to the three and six months ended June 30, 2016. The increase in total operating costs and expenses was primarily due to an increase in cost of sales and, to a lesser extent, from increases in operating and maintenance expense and depreciation and amortization expense.

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For more information:

Organization:
Cheniere Energy Partners, L.P.

Address:
700 Milam Street, Suite 800
Houston, Texas
United States, 77002
www.cheniereenergypartners.com


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