Sabine Pass Liquefaction S-4/A 2016 FY Registration of securities issued in business combination transactions (amended)

EXHIBIT 12.1

Sabine Pass Liquefaction, LLC

Computation of Ratio of Earnings to Fixed Charges

	Year Ended December 31,
	2016			2015			2014			2013			2012
	(in thousands, except ratio)
Earnings:
Pre-tax income (loss) from continuing operations	$	(193,465	)	$	(265,617	)	$	(376,853	)	$	(194,490	)	$	(85,157	)
Fixed charges		649,528			531,885			398,263			238,992			35,474
Amortization of capitalized interest		216			—			—			—			—
Interest capitalized		(463,090	)		(495,165	)		(374,041	)		(227,900	)		(35,114	)
Total earnings (loss) available for fixed charges	$	(6,811	)	$	(228,897	)	$	(352,631	)	$	(183,398	)	$	(84,797	)
Fixed Charges
Interest expense on indebtedness	$	185,825		$	36,330		$	23,909		$	10,796		$	139
Interest capitalized		463,090			495,165			374,041			227,900			35,114
Interest expense on portion of rent		613			390			313			296			221
Total fixed charges	$	649,528		$	531,885		$	398,263		$	238,992		$	35,474
Ratio of earnings to fixed charges (1)		—						—			—			—

(1) For the purposes of computing these ratios: (i) earnings meanspre-tax income from continuing operations before fixed charges and amortization of capitalized interest less capitalized interest and (ii) fixed charges means the sum of interest expensed and capitalized plus the portion of rental expense which we believe represents an interest factor. For the years ended December 31, 2016, 2015, 2014, 2013 and 2012, earnings were not adequate to cover fixed charges by $656.3 million, $760.8 million, $750.9 million, $422.4 million and $120.3 million, respectively.