Cheniere Energy SEC Filings

Cheniere Energy Partners, L.P. has entered into a lump-sum, turnkey EPC contract with Bechtel Energy, Inc. for Phase 1 of the Sabine Pass Expansion Project, under which its subsidiary SPLV will pay approximately $4.69 billion for Train 7 and a boil-off gas re-liquefaction unit at the Sabine Pass LNG terminal in Louisiana.

The contract covers engineering, procurement, construction, commissioning and start-up, and Bechtel has received a limited notice to proceed. Phase 1 is expected to provide over 6 mtpa of LNG production capacity and is supported by long-term commercial agreements, with a final investment decision targeted by early 2027, subject to regulatory approvals and financing. The filing also notes updated services agreements anticipating additional trains and a press release announcing the EPC contract and LNTP.

Cheniere Energy Partners, L.P. entered into a purchase agreement to issue $1 billion of 5.350% Senior Notes due 2036 and $750 million of 6.050% Senior Notes due 2056. The notes will be issued at 99.511% and 99.698% of par, respectively, with closing expected on June 9, 2026.

Cheniere Partners plans to use the proceeds for general partnership purposes, including potential repayment, refinancing or redemption of existing debt such as Sabine Pass Liquefaction, LLC’s 5.00% Senior Secured Notes due 2027. Sabine Pass Liquefaction issued an irrevocable notice to redeem $1.5 billion of these 2027 notes, to be funded with note proceeds and cash on hand.

Cheniere Energy Partners, L.P. reported first quarter 2026 results and reaffirmed its full-year 2026 distribution guidance. Revenue rose to $3.6 billion, up 20% from $2.99 billion a year earlier, while net income declined to $186 million from $641 million.

The net income drop was mainly driven by $677 million of non-cash unfavorable fair value changes on commodity derivatives tied to long-term Integrated Production Marketing agreements. Adjusted EBITDA increased 13% to $1.175 billion, reflecting higher total margins per MMBtu of LNG delivered.

The Partnership declared a first-quarter 2026 cash distribution of $0.790 per common unit, including a $0.775 base and $0.015 variable component, payable May 15, 2026. It reconfirmed full-year 2026 distribution guidance of $3.10–$3.40 per common unit, maintaining a $3.10 base distribution.

Cheniere Energy Partners, L.P. reported first‑quarter 2026 net income of $186 million, down from $641 million a year earlier, as non‑cash losses on long‑term derivative contracts outweighed stronger operations. Revenue rose to $3.6 billion from $3.0 billion, driven mainly by higher Henry Hub‑linked LNG pricing.

Total operating costs increased to $3.2 billion, reflecting an $826 million unfavorable fair value change on integrated production marketing agreements and higher natural gas feedstock prices, partly offset by savings on unutilized gas. Cash from operating activities improved to $910 million from $665 million, while capital spending remained modest at $31 million and $253 million of debt was repaid.

At quarter‑end, the partnership held $2.1 billion of available liquidity and $14.3 billion of senior notes outstanding. Approximately 413 TBtu of LNG was loaded and recognized as revenue, and contracted future LNG and regasification revenues totaled about $41.0 billion of unsatisfied transaction price.

Cheniere Energy Partners, L.P. declared a quarterly cash distribution of $0.790 per common unit, payable on May 15, 2026 to unitholders of record as of May 8, 2026.

The cash distribution consists of a base amount of $0.775 per common unit and a variable amount of $0.015 per common unit, plus a related distribution to its general partner. The company also reiterates that, as a publicly traded partnership, 100 percent of its distributions to foreign investors are treated as income effectively connected with a U.S. trade or business and are subject to federal income tax withholding at the highest applicable effective tax rate, with nominees acting as withholding agents.

Cheniere Energy Partners, L.P. director Matthew JK Runkle filed an initial Form 3, which is a statement of beneficial ownership for insiders. This filing lists him as a director but does not report any share transactions or derivative positions in this excerpt.

Cheniere Energy Partners, L.P. reports that Matthew Runkle has been appointed to the Board of Directors of its general partner, effective April 2, 2026, under CQP Holdco LP’s director appointment rights in the Amended LLC Agreement. He also joins the Board’s Executive Committee and is expected to join the CMI SPA Committee.

In connection with this change, Scott Peak resigned from the Board, the Executive Committee and the CMI SPA Committee, effective the same date. The company notes that Mr. Runkle is covered by the general partner’s standard Indemnification Agreement and is not involved in related-party transactions requiring disclosure under Item 404(a) of Regulation S-K.

Cheniere Energy Partners, L.P. reported strong growth for the fourth quarter and full year 2025. Quarterly revenue rose to $2.91 billion from $2.46 billion, with net income increasing to $1.29 billion from $623 million. For 2025, revenue reached $10.76 billion versus $8.70 billion, and net income improved to $2.99 billion from $2.51 billion. Adjusted EBITDA was $1.01 billion for the quarter and $3.66 billion for the year.

The partnership paid total 2025 cash distributions of $3.30 per common unit and declared a fourth‑quarter distribution of $0.830 per unit. It introduced 2026 distribution guidance of $3.10 to $3.40 per unit, maintaining a $3.10 base distribution. Liquidity as of December 31 2025 totaled $2.03 billion, and Sabine Pass Liquefaction redeemed $500 million of 2026 senior notes across December 2025 and February 2026. S&P Global Ratings upgraded the issuer credit rating to BBB+ with a stable outlook, while over 3,270 LNG cargoes have now been exported from Sabine Pass.

Cheniere Energy Partners, L.P. operates the Sabine Pass LNG Terminal in Louisiana, one of the world’s largest LNG facilities, with total production capacity of over 30 mtpa, five storage tanks and three marine berths. It also owns the 94‑mile Creole Trail Pipeline linking the terminal to major gas pipelines.

The partnership’s long-term SPAs and IPM agreements, with about 13 years of weighted average remaining life, cover roughly 85% of anticipated Liquefaction Project output through the mid‑2030s, providing stable fee-based cash flows. A two‑phased SPL Expansion Project of up to ~20 mtpa is being commercialized, targeting phased FID in 2026/2027, subject to FERC/DOE approvals, financing and contracts. The filing details major customer concentration, extensive federal and environmental regulation, exposure to storms, construction and financing risks, cyber and trade-policy risks, and outlines a strategy focused on disciplined, contracted growth and climate-related initiatives.