Annual report pursuant to Section 13 and 15(d)

Property, Plant and Equipment, Net of Accumulated Depreciation (Tables)

v3.25.0.1
Property, Plant and Equipment, Net of Accumulated Depreciation (Tables)
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, Net of Accumulated Depreciation
Property, plant and equipment, net of accumulated depreciation consisted of the following (in millions):
December 31,
2024 2023
LNG terminal    
Terminal and interconnecting pipeline facilities $ 20,292  $ 20,176 
Construction-in-process 227  189 
Accumulated depreciation (4,835) (4,173)
Total LNG terminal, net of accumulated depreciation 15,684  16,192 
Fixed assets  
Fixed assets 30  29 
Accumulated depreciation (24) (26)
Total fixed assets, net of accumulated depreciation 6  3 
Assets under finance leases
Tug vessels 75  23 
Accumulated depreciation (5) (6)
Total assets under finance leases, net of accumulated depreciation 70  17 
Property, plant and equipment, net of accumulated depreciation $ 15,760  $ 16,212 
Schedule Of Depreciation And Offsets To LNG Terminal Costs
The following table shows depreciation expense and offsets to LNG terminal costs (in millions):
Year Ended December 31,
2024 2023 2022
Depreciation expense $ 675  $ 667  $ 630 
Offsets to LNG terminal costs (1) —  —  148 
(1)We recognize 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.
Property Plant and Equipment Estimated Useful Lives Table The identifiable components of the Sabine Pass LNG Terminal have depreciable lives between 6 and 50 years, as follows:
Components Useful life (years)
LNG storage tanks 50
Natural gas pipeline facilities 40
Marine berth, electrical, facility and roads 35
Water pipelines 30
Regasification processing equipment 30
Sendout pumps 20
Liquefaction processing equipment
6-50
Other
10-30