On May 8, 2008, Cheniere Energy, Inc. reported a net loss of $49.9 million, or $1.06 per share (basic and diluted), for the first quarter of 2008 compared with a net loss of $34.6 million, or $0.63 per share (basic and diluted), during the corresponding period in 2007. Results for the quarter were impacted by costs associated with the Sabine Pass LNG receiving terminal and Creole Trail pipeline. Loss from operations was $38.4 million for the first quarter of 2008 compared to $29.8 million for the first quarter of 2007. LNG receiving terminal and pipeline development expenses increased from $5.8 million during the first quarter of 2007 to $6.7 million in first three months of 2008. This increase was primarily due to the hiring in the second quarter of 2007 of the employees to operate the Sabine Pass LNG receiving terminal.

The stock dropped over $2.00 on the news.

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