Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment

v3.20.1
Property, Plant and Equipment
 3 Months Ended
Mar. 31, 2020
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment PROPERTY, PLANT AND EQUIPMENT
 
As of March 31, 2020 and December 31, 2019, property, plant and equipment, net consisted of the following (in millions):
 
 
March 31,
 
December 31,
 
 
2020
 
2019
LNG terminal costs
 
 
 
 
LNG terminal and interconnecting pipeline facilities
 
$
16,917

 
$
16,894

LNG terminal construction-in-process
 
1,495

 
1,275

Accumulated depreciation
 
(1,943
)
 
(1,807
)
Total LNG terminal costs, net
 
16,469

 
16,362

Fixed assets
 
 

 
 

Fixed assets
 
29

 
27

Accumulated depreciation
 
(22
)
 
(21
)
Total fixed assets, net
 
7

 
6

Property, plant and equipment, net
 
$
16,476

 
$
16,368

 

Depreciation expense was $137 million and $113 million during the three months ended March 31, 2020 and 2019, respectively.

We realized offsets to LNG terminal costs of $48 million during the three months ended March 31, 2019 that were related to the sale of commissioning cargoes because these amounts were earned or loaded prior to the start of commercial operations of the respective Trains of the Liquefaction Project, during the testing phase for its construction. We did not realize any offsets to LNG terminal costs during the three months ended March 31, 2020.