Annual report pursuant to Section 13 and 15(d)

Property, Plant and Equipment (Notes)

v2.4.1.9
Property, Plant and Equipment (Notes)
 12 Months Ended
Dec. 31, 2014
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, as follows (in thousands):
 
 
December 31,
 
 
2014
 
2013
LNG terminal costs
 
 
 
 
LNG terminal
 
$
2,240,233

 
$
2,225,412

LNG terminal construction-in-process
 
7,082,732

 
4,448,541

LNG site and related costs, net
 
141

 
149

Accumulated depreciation
 
(348,907
)
 
(291,265
)
Total LNG terminal costs, net
 
8,974,199

 
6,382,837

Fixed assets
 
 

 
 

Computer and office equipment
 
1,105

 
612

Vehicles
 
1,507

 
907

Machinery and equipment
 
1,508

 
1,490

Furniture and fixtures
 
1,375

 
373

Other
 
2,505

 
590

Accumulated depreciation
 
(3,843
)
 
(2,870
)
Total fixed assets, net
 
4,157

 
1,102

Property, plant and equipment, net
 
$
8,978,356

 
$
6,383,939



The Sabine Pass LNG terminal is depreciated using the straight-line depreciation method applied to groups of LNG terminal assets with varying useful lives. The identifiable components of the Sabine Pass LNG terminal with similar estimated useful lives have a depreciable range between 15 and 50 years, as follows:
Components
 
Useful life (yrs)
LNG storage tanks
 
50
Natural gas pipeline facilities
 
40
Marine berth, electrical, facility and roads
 
35
Regasification processing equipment (recondensers, vaporization and vents)
 
30
Sendout pumps
 
20
Others
 
15-30

Fixed Assets 

Our fixed assets are recorded at cost and are depreciated on a straight-line method based on estimated lives of the individual assets or groups of assets.