Quarterly report pursuant to Section 13 or 15(d)

Note 5 - LNG Inventory

v2.3.0.15
Note 5 - LNG Inventory
 9 Months Ended
Sep. 30, 2011
LNG Inventory [Abstract]  
Inventory Disclosure [Text Block]
LNG Inventory

LNG inventory is recorded at cost and is subject to lower of cost or market ("LCM") adjustments at the end of each period.  Inventory cost is determined using the average cost method. Recoveries of losses resulting from interim period LCM adjustments are recorded when market price recoveries occur on the same inventory in the same fiscal year.  These recoveries are recognized as gains in later interim periods with such gains not exceeding previously recognized losses.  As of September 30, 2011, we had 1,699,000 MMBtu of LNG inventory recorded at $6.9 million, and at December 31, 2010, we had 326,000 MMBtu of LNG inventory recorded at $1.2 million on our Consolidated Balance Sheets.