Cheniere Energy Partners reported net income of US$47 million for the three months ended 31 March 2017, compared to a net loss of US$75 million for the same period in 2016. Adjusted EBITDA for the three months ended 31 March 2017 was US$319 million, compared to US$12 million for the comparable 2016 period.
During the three months ended 31 March 2017, a total of 43 LNG cargoes were loaded from the Sabine Pass Liquefaction Project (SPL), seven of which were commissioning cargoes.
Total operating costs and expenses increased US$595 million during the three months ended 31 March 2017, compared to the three months ended 31 March 2016 generally as a result of the commencement of operations at the SPL Project in May 2016 upon the substantial completion of Train 1, followed by the substantial completion of Train 2 and Train 3 in September 2016 and March 2017, respectively.
Depreciation and amortization expense increased during the three months ended 31 March 2017, compared to the three months ended 31 March 2016 as the company began depreciation of assets related to Trains 1 through 3 of the SPL Project upon reaching substantial completion.