Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment

v2.4.0.8
Property, Plant and Equipment
 9 Months Ended
Sep. 30, 2013
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment
PROPERTY, PLANT AND EQUIPMENT
 
Property, plant and equipment consists of LNG terminal costs and fixed assets and other, as follows (in thousands):
 
September 30,
 
December 31,
 
2013
 
2012
LNG terminal costs
 
 
 
LNG terminal
$
2,233,748

 
$
2,233,595

LNG terminal construction-in-process
3,735,876

 
1,269,798

LNG site and related costs, net
5,766

 
5,398

Accumulated depreciation
(278,071
)
 
(235,275
)
Total LNG terminal costs, net
5,697,319

 
3,273,516

 
 
 
 
Fixed assets and other
 

 
 

Computer and office equipment
7,808

 
7,014

Furniture and fixtures
4,167

 
4,057

Computer software
13,125

 
13,012

Leasehold improvements
7,226

 
6,989

Other
7,552

 
6,844

Accumulated depreciation
(31,630
)
 
(29,127
)
Total fixed assets, net
8,248

 
8,789

Property, plant and equipment, net
$
5,705,567

 
$
3,282,305


 
LNG Terminal Costs
 
Depreciation expense related to the Sabine Pass LNG terminal totaled $14.4 million and $14.5 million for the three months ended September 30, 2013 and 2012, respectively. Depreciation expense related to the Sabine Pass LNG terminal totaled $43.0 million for each of the nine months ended September 30, 2013 and 2012.

In June 2012, we began capitalizing costs associated with Train 1 and Train 2 of the Liquefaction Project, and in May 2013, we began capitalizing costs associated with Train 3 and Train 4 of the Liquefaction Project. For the three months ended September 30, 2013 and 2012, we capitalized $30.2 million and $14.0 million of interest expense related to the construction of the Liquefaction Project, respectively. For the nine months ended September 30, 2013 and 2012, we capitalized $125.0 million and $14.0 million of interest expense related to the construction of the Liquefaction Project, respectively.

Fixed Assets and Other

Depreciation expense related to our fixed assets and other totaled $0.8 million for each of the three months ended September 30, 2013 and 2012. Depreciation expense related to our fixed assets and other totaled $2.5 million and $3.6 million for the nine months ended September 30, 2013 and 2012, respectively.