Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment

v3.20.2
Property, Plant and Equipment
 9 Months Ended
Sep. 30, 2020
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment PROPERTY, PLANT AND EQUIPMENT
 
As of September 30, 2020 and December 31, 2019, property, plant and equipment, net consisted of the following (in millions):
September 30, December 31,
2020 2019
LNG terminal costs    
LNG terminal and interconnecting pipeline facilities $ 16,873  $ 16,894 
LNG terminal construction-in-process 2,001  1,275 
Accumulated depreciation (2,213) (1,807)
Total LNG terminal costs, net 16,661  16,362 
Fixed assets    
Fixed assets 28  27 
Accumulated depreciation (23) (21)
Total fixed assets, net 5  6 
Property, plant and equipment, net $ 16,666  $ 16,368 
The following table shows depreciation expense and offsets to LNG terminal costs during the three and nine months ended September 30, 2020 and 2019 (in millions):
Three Months Ended September 30, Nine Months Ended September 30,
2020 2019 2020 2019
Depreciation expense $ 135  $ 136  $ 409  $ 386 
Offsets to LNG terminal costs (1) —  —  —  48
(1)    We realize offsets to LNG terminal costs 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.