NYSE: CQP
Cheniere Energy Partners, L.P.CIK 0001383650 · SIC 4924 · Natural Gas Distribution
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Cheniere Energy Partners files 424B3 for exchange offer of new senior notes; no new equity offering
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Cheniere Energy Partners Q2 net income more than doubles to $1.16B on higher volumes and derivative gains
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Latest financial statements
From 10-Q filed Oct 29, 2026 (period ending Sep 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Operations (Unaudited)
(in millions, except per unit data)
| Description | Three months ended September 30, 2026 | Three months ended September 30, 2025 | Nine months ended September 30, 2026 | Nine months ended September 30, 2025 |
|---|---|---|---|---|
| Revenues | ||||
| LNG revenues | 1,956 | 1,837 | 6,561 | 5,961 |
| LNG revenues—affiliate | 567 | 518 | 2,044 | 1,738 |
| Regasification revenues | 34 | 34 | 102 | 102 |
| Other revenues | 17 | 15 | 50 | 47 |
| Total revenues | 2,574 | 2,404 | 8,757 | 7,848 |
| Operating costs and expenses | ||||
| Cost of sales (excluding operating and maintenance expense and depreciation and amortization expense shown separately below) | 1,276 | 1,278 | 4,757 | 4,177 |
| Cost of sales—affiliate | — | — | 46 | — |
| Operating and maintenance expense | 236 | 191 | 692 | 683 |
| Operating and maintenance expense—affiliate | 43 | 40 | 136 | 126 |
| Operating and maintenance expense—related party | — | — | — | 28 |
| General and administrative expense | 3 | 3 | 9 | 9 |
| General and administrative expense—affiliate | 25 | 23 | 72 | 70 |
| Depreciation and amortization expense | 174 | 173 | 522 | 515 |
| Other operating costs and expenses | 2 | — | 6 | 2 |
| Other operating costs and expenses—affiliate | — | — | 1 | 1 |
| Total operating costs and expenses | 1,759 | 1,708 | 6,241 | 5,611 |
| Income from operations | 815 | 696 | 2,516 | 2,237 |
| Other income (expense) | ||||
| Interest expense, net of capitalized interest | (182) | (189) | (546) | (567) |
| Other income (expense), net | 6 | (2) | 13 | 7 |
| Other income—affiliate | — | 1 | 3 | 23 |
| Total other expense | (176) | (190) | (530) | (537) |
| Net income | 639 | 506 | 1,986 | 1,700 |
| Basic and diluted net income per common unit(1) | 1.01 | 0.80 | 3.34 | 2.79 |
| Weighted average basic and diluted number of common units outstanding | 484 | 484 | 484 | 484 |
Consolidated Balance Sheets (Unaudited)
(in millions, except unit data)
| Description | September 30, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | 569 | 182 |
| Restricted cash and cash equivalents | 35 | 19 |
| Trade and other receivables, net of current expected credit losses | 327 | 511 |
| Trade and other receivables—affiliate | 290 | 238 |
| Advances to affiliates | 152 | 145 |
| Inventory | 165 | 180 |
| Prepaid expenses | 50 | 42 |
| Other current assets, net | 16 | 21 |
| Total current assets | 1,604 | 1,338 |
| Property, plant and equipment, net of accumulated depreciation | 15,087 | 15,259 |
| Operating lease assets | 73 | 76 |
| Deferred NPNS assets | 669 | — |
| Derivative assets | 1 | 541 |
| Other non-current assets, net | 405 | 223 |
| Total assets | 17,839 | 17,437 |
| LIABILITIES AND PARTNERS’ EQUITY | ||
| Current liabilities | ||
| Accounts payable | 97 | 53 |
| Accrued liabilities | 738 | 990 |
| Current debt, net of unamortized discount and debt issuance costs | 112 | 306 |
| Due to affiliates | 50 | 57 |
| Deferred revenue | 144 | 119 |
| Current portion of deferred NPNS liabilities | 103 | — |
| Current derivative liabilities | 84 | 164 |
| Other current liabilities | 14 | 15 |
| Other current liabilities—affiliate | 6 | 4 |
| Total current liabilities | 1,348 | 1,708 |
| Long-term debt, net of unamortized discount and debt issuance costs | 14,283 | 14,161 |
| Deferred NPNS liabilities | 1,055 | — |
| Derivative liabilities | 41 | 900 |
| Other non-current liabilities | 216 | 231 |
| Other non-current liabilities—affiliate | 17 | 23 |
| Total liabilities | 16,960 | 17,023 |
| Partners’ equity | ||
| Common unitholders’ interest (484 million units issued and outstanding at both September 30, 2026 and December 31, 2025) | 3,921 | 3,156 |
| General partner’s interest (2% interest with 10 million units issued and outstanding at both September 30, 2026 and December 31, 2025) | (3,042) | (2,742) |
| Total partners’ equity | 879 | 414 |
| Total liabilities and partners’ equity | 17,839 | 17,437 |
Consolidated Statements of Cash Flows (Unaudited)
(in millions)
| Description | Nine months ended September 30, 2026 | Nine months ended September 30, 2025 |
|---|---|---|
| Cash flows from operating activities | ||
| Net income | 1,986 | 1,700 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization expense | 522 | 515 |
| Total losses (gains) on derivative instruments, net | 140 | (109) |
| Net cash provided by (used for) settlement of derivative instruments | (22) | 6 |
| Other, net | 6 | 37 |
| Changes in operating assets and liabilities: | ||
| Trade and other receivables | 184 | 21 |
| Trade and other receivables—affiliate | (53) | (47) |
| Trade receivables—related party | — | 1 |
| Inventory | 15 | 3 |
| Accounts payable and accrued liabilities | (211) | (130) |
| Accounts payable and accrued liabilities—related party | — | (5) |
| Due to affiliates | (5) | (22) |
| Other, net | (17) | (39) |
| Other, net—affiliate | 5 | (50) |
| Net cash provided by operating activities | 2,550 | 1,881 |
| Cash flows from investing activities | ||
| Property, plant and equipment | (526) | (176) |
| Other, net | (5) | (4) |
| Net cash used in investing activities | (531) | (180) |
| Cash flows from financing activities | ||
| Proceeds from issuances of debt and borrowings | 1,903 | 1,262 |
| Redemptions and repayments of debt and borrowings | (1,967) | (1,617) |
| Distributions | (1,521) | (1,539) |
| Other, net | (31) | (22) |
| Net cash used in financing activities | (1,616) | (1,916) |
| Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents | 403 | (215) |
| Cash, cash equivalents and restricted cash and cash equivalents—beginning of period | 201 | 379 |
| Cash, cash equivalents and restricted cash and cash equivalents—end of period | 604 | 164 |
Amounts as printed on the EDGAR/iXBRL face — (in millions, except per unit data); (in millions, except unit data); (in millions). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗