For the nine months ended September 30, 2007, Cheniere reported a loss of $129.1 million, or $2.48 per share, compared to a net loss of $52.5 million, or $0.97 per share, for the comparable period in 2006.
The primary reasons for the $20.4 million increase in the net loss between corresponding quarters in 2006 and 2007 included general and administrative expenses increasing by $22.9 million, principally related to personnel costs necessary for the expansion of Cheniere’s business.
The loss also included LNG terminal and pipeline development expenses increasing by $7.1 million due to the hiring of employees who will ultimately be operating and maintaining the Sabine Pass LNG receiving terminal and the Creole Trail pipeline, and an increase in interest expense of $17.1 million primarily related to the Sabine Pass LNG senior notes.
These increases were partially offset by increased interest income of $9.9 million and by the effect in 2006 of a $15.1 million income tax provision.
