Summary
Cheniere Energy, Inc.'s (LNG) 10-Q filing for the period ending September 29, 2014, and filed on November 9, 2014, primarily addresses compliance with Section 13(r) of the Exchange Act concerning transactions with Iran. The company explicitly states that neither it nor its affiliates engaged in any such transactions during the quarter. However, the filing notes that an affiliate of The Blackstone Group, which holds a significant stake in Cheniere Partners, disclosed that one of its portfolio companies, Travelport, provided certain travel-related services to Iranian airlines (Iran Air and Iran Air Tours). These disclosed services by Travelport generated approximately $171,000 in gross revenue and $124,000 in net profit for the quarter. While Cheniere Energy itself had no direct dealings with Iran, this indirect disclosure through an affiliate is a key point for investors. The company has not independently verified Travelport's disclosure. Investors should note that this information is provided for disclosure purposes as required by the Iran Threat Reduction and Syria Human Rights Act of 2012, and does not represent direct engagement by Cheniere Energy.
Financial Highlights
48 data points| Revenue | $66.81M |
| R&D Expenses | $11.54M |
| Operating Expenses | $127.97M |
| Operating Income | -$61.16M |
| Interest Expense | $46.88M |
| Net Income | -$89.58M |
| EPS (Basic) | $-0.40 |
| Shares Outstanding (Basic) | 224.31M |
| Shares Outstanding (Diluted) | 224.31M |
Key Highlights
- 1Cheniere Energy, Inc. and its direct affiliates had no transactions with Iran or Iran-related entities during the quarter ending September 29, 2014.
- 2The filing discloses indirect Iranian business activity through an affiliate of a major shareholder in Cheniere Partners.
- 3Blackstone Group, a significant holder in Cheniere Partners, reported that its portfolio company, Travelport, provided services to Iran Air and Iran Air Tours.
- 4Travelport's disclosed gross revenues from these services were approximately $171,000 for the quarter.
- 5Travelport's disclosed net profits from these services were approximately $124,000 for the quarter.
- 6Cheniere Energy has not independently verified the disclosures made by Blackstone Group regarding Travelport's activities.
- 7The disclosure is made in compliance with Section 13(r) of the Exchange Act and the Iran Threat Reduction and Syria Human Rights Act of 2012.