The following table presents the components of property, plant and equipment, net and their estimated useful lives (in years):


	Estimated useful life	September 30, 2025		December 31, 2024

Terminal and interconnected pipeline facilities(a)	7-47	$	30,843	$	18,698
Construction in progress	N/A	6,955		10,773
Advanced equipment and construction payments	N/A	4,790		4,733
LNG tankers	25	1,504		630
Other(b)	2-35	661		633
Total property, plant and equipment at cost		44,753		35,467
Accumulated depreciation		(1,495)		(792)
Total property, plant and equipment, net		$	43,258	$	34,675

(a) During the nine months ended September 30, 2025, the Company extended the probable remaining terms of certain land leases and therefore extended the estimated useful lives of the terminal assets previously constrained by the terms of the land lease to which they are affixed. This resulted in a $88 million reduction to depreciation expense, or $0.04 and $0.03 increase in basic and diluted earnings per share, respectively, for the three and nine months ended September 30, 2025. See Note 6 – Leases for further discussion.

(b) Includes land, which does not depreciate, buildings, and finance lease assets. See Note 6 – Leases for further discussion.

The following table presents depreciation expense recognized on the condensed consolidated statements of operations:


	Three months ended September 30,				Nine months ended September 30,
	2025		2024		2025		2024

Depreciation expense	$	216	$	87	$	693	$	224