(Bloomberg) -- Cheniere Energy Inc., the largest U.S. liquefied natural gas exporter, reported an unexpected loss due to derivatives meant to mitigate volatile commodity prices.
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The company said increased margins on delivered LNG and a higher volume of LNG delivered during the quarter weren’t sufficient to offset that loss. The derivatives are related to the agreements in which producers sell natural gas to Cheniere on a global LNG index price, the company said.
Cheniere reported a net loss of $3.41 per share, while analysts expected earnings of $3.51 per share.
(Updates with margins increase in second paragraph)
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