13. | Intangible assets, net |
The following table summarizes the composition of intangible assets:
| | December 31, 2019 | | | | Gross Carrying Amount | | | Accumulated Amortization | | | Net Carrying Amount | | | Weighted Average Life | | Definite-lived intangible assets | | | | | | | | | | | | | Shannon LNG leases and permits | | $ | 42,157 | | | $ | 1,198 | | | $ | 40,959 | | | | 40 | | Easements | | | 1,559 | | | | 139 | | | | 1,420 | | | | 30 | | | | | | | | | | | | | | | | | | | Indefinite-lived intangible assets | | | | | | | | | | | | | | | | | Easements | | | 1,161 | | | | - | | | | 1,161 | | | | n/a | | Total intangible assets | | $ | 44,877 | | | $ | 1,337 | | | $ | 43,540 | | | | | |
| | December 31, 2018 | | | | Gross Carrying Amount | | | Accumulated Amortization | | | Net Carrying Amount | | | Weighted Average Life | | Definite-lived intangible assets | | | | | | | | | | | | | Shannon LNG leases and permits | | $ | 43,191 | | | $ | 134 | | | $ | 43,057 | | | | 40 | | Total intangible assets | | $ | 43,191 | | | $ | 134 | | | $ | 43,057 | | | | | |
As of December 31, 2019, the weighted average remaining amortization periods for the intangible assets is 38.8 years. Amortization for the years ended December 31, 2019 and 2018 totaled $1,114 and $134, respectively. The estimated aggregate amortization expense for each of the next five years is:
Year ending December 31: |
| | | 2020 |
| $ | 1,116 | | 2021 |
| | 1,116 | | 2022 |
| | 1,116 | | 2023 |
| | 1,116 | | 2024 |
| | 1,116 | | Thereafter |
| | 36,799 | | Total |
| $ | 42,379 | |
|