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 derivative gains and higher volumes
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Latest financial statements
From 10-Q filed Aug 6, 2026 (period ending Jun 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 June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Revenues | ||||
| LNG revenues | 1,902 | 1,857 | 4,605 | 4,124 |
| LNG revenues—affiliate | 631 | 549 | 1,477 | 1,220 |
| Regasification revenues | 34 | 34 | 68 | 68 |
| Other revenues | 16 | 15 | 33 | 32 |
| Total revenues | 2,583 | 2,455 | 6,183 | 5,444 |
| Operating costs and expenses | ||||
| Cost of sales (excluding operating and maintenance expense and depreciation and amortization expense shown separately below) | 765 | 1,196 | 3,481 | 2,899 |
| Cost of sales—affiliate | — | — | 46 | — |
| Operating and maintenance expense | 230 | 289 | 456 | 492 |
| Operating and maintenance expense—affiliate | 45 | 42 | 93 | 86 |
| Operating and maintenance expense—related party | — | 13 | — | 28 |
| General and administrative expense | 3 | 2 | 6 | 6 |
| General and administrative expense—affiliate | 23 | 24 | 47 | 47 |
| Depreciation and amortization expense | 174 | 171 | 348 | 342 |
| Other operating costs and expenses | 2 | 2 | 4 | 2 |
| Other operating costs and expenses—affiliate | 1 | 1 | 1 | 1 |
| Total operating costs and expenses | 1,243 | 1,740 | 4,482 | 3,903 |
| Income from operations | 1,340 | 715 | 1,701 | 1,541 |
| Other income (expense) | ||||
| Interest expense, net of capitalized interest | (183) | (188) | (364) | (378) |
| Other income, net | 2 | 4 | 7 | 9 |
| Other income—affiliate | 2 | 22 | 3 | 22 |
| Total other expense | (179) | (162) | (354) | (347) |
| Net income | 1,161 | 553 | 1,347 | 1,194 |
| Basic and diluted net income per common unit (1) | 2.14 | 0.91 | 2.33 | 1.99 |
| Weighted average basic and diluted number of common units outstanding | 484 | 484 | 484 | 484 |
Consolidated Balance Sheets (Unaudited)
(in millions, except unit data)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | 443 | 182 |
| Restricted cash and cash equivalents | 23 | 19 |
| Trade and other receivables, net of current expected credit losses | 349 | 511 |
| Trade and other receivables—affiliate | 296 | 238 |
| Advances to affiliates | 165 | 145 |
| Inventory | 165 | 180 |
| Prepaid expenses | 62 | 42 |
| Other current assets, net | 16 | 21 |
| Other current assets—affiliate | 1 | — |
| Total current assets | 1,520 | 1,338 |
| Property, plant and equipment, net of accumulated depreciation | 15,034 | 15,259 |
| Operating lease assets | 74 | 76 |
| Deferred NPNS assets | 669 | — |
| Derivative assets | 5 | 541 |
| Other non-current assets, net | 377 | 223 |
| Total assets | 17,679 | 17,437 |
| LIABILITIES AND PARTNERS’ EQUITY | ||
| Current liabilities | ||
| Accounts payable | 82 | 53 |
| Accrued liabilities | 693 | 990 |
| Current debt, net of unamortized discount and debt issuance costs | 109 | 306 |
| Due to affiliates | 43 | 57 |
| Deferred revenue | 102 | 119 |
| Current portion of deferred NPNS liabilities | 103 | — |
| Current derivative liabilities | 93 | 164 |
| Other current liabilities | 12 | 15 |
| Other current liabilities—affiliate | 5 | 4 |
| Total current liabilities | 1,242 | 1,708 |
| Long-term debt, net of unamortized discount and debt issuance costs | 14,335 | 14,161 |
| Deferred NPNS liabilities | 1,081 | — |
| Derivative liabilities | 27 | 900 |
| Other non-current liabilities | 221 | 231 |
| Other non-current liabilities—affiliate | 19 | 23 |
| Total liabilities | 16,925 | 17,023 |
| Partners’ equity | ||
| Common unitholders’ interest (484 million units issued and outstanding at both June 30, 2026 and December 31, 2025) | 3,692 | 3,156 |
| General partner’s interest (2% interest with 10 million units issued and outstanding at both June 30, 2026 and December 31, 2025) | (2,938) | (2,742) |
| Total partners’ equity | 754 | 414 |
| Total liabilities and partners’ equity | 17,679 | 17,437 |
Consolidated Statements of Cash Flows (Unaudited)
(in millions)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities | ||
| Net income | 1,347 | 1,194 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization expense | 348 | 342 |
| Amortization of discount and debt issuance costs | 11 | 12 |
| Total losses (gains) on derivative instruments, net | 142 | (121) |
| Net cash used for settlement of derivative instruments | (33) | (13) |
| Other, net | 8 | 9 |
| Changes in operating assets and liabilities: | ||
| Trade and other receivables | 162 | 119 |
| Trade and other receivables—affiliate | (58) | 16 |
| Trade receivables—related party | — | 1 |
| Advances to affiliates | (5) | (79) |
| Inventory | 15 | (3) |
| Accounts payable and accrued liabilities | (271) | (169) |
| Accounts payable and accrued liabilities—related party | — | (5) |
| Due to affiliates | (13) | (21) |
| Total deferred revenue | (23) | (16) |
| Other, net | (16) | (39) |
| Other, net—affiliate | (5) | (4) |
| Net cash provided by operating activities | 1,609 | 1,223 |
| Cash flows from investing activities | ||
| Property, plant and equipment | (297) | (128) |
| Other, net | (2) | (3) |
| Net cash used in investing activities | (299) | (131) |
| Cash flows from financing activities | ||
| Proceeds from issuances of debt and borrowings | 1,903 | 265 |
| Redemptions and repayments of debt and borrowings | (1,913) | (565) |
| Distributions | (1,007) | (1,025) |
| Other, net | (28) | (2) |
| Net cash used in financing activities | (1,045) | (1,327) |
| Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents | 265 | (235) |
| 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 | 466 | 144 |
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 ↗