EXHIBIT 99.1

CHENIERE ENERGY PARTNERS, L.P. NEWS RELEASE
Cheniere Partners Reports Second Quarter Results and Reconfirms Full Year 2021 Distribution Guidance
HOUSTON--(BUSINESS WIRE)-- Cheniere Energy Partners, L.P. (“Cheniere Partners”) (NYSE American: CQP) today announced its financial results for the second quarter of 2021.
HIGHLIGHTS
•Net income of $395 million and $742 million for the three and six months ended June 30, 2021, respectively.
•Adjusted EBITDA1 of $690 million and $1,469 million for the three and six months ended June 30, 2021, respectively.
•Declared a distribution of $0.665 per common unit that will be paid on August 13, 2021 to unitholders of record as of August 6, 2021.
•Reconfirmed full year 2021 distribution guidance.
•S&P Global Ratings changed the outlook on Cheniere Partners credit rating to positive from negative in April 2021.
2021 FULL YEAR DISTRIBUTION GUIDANCE
2021
Distribution per Unit$2.60 -$2.70 
SUMMARY AND REVIEW OF FINANCIAL RESULTS
(in millions, except LNG data)Three Months Ended June 30,Six Months Ended June 30,
 20212020% Change20212020% Change
Revenues$1,889 $1,470 29 %$3,852 $3,188 21 %
Net income$395 $406 (3)%$742 $841 (12)%
Adjusted EBITDA1
$690 $846 (18)%$1,469 $1,638 (10)%
LNG exported:
Number of cargoes87 58 50 %176 150 17 %
Volumes (TBtu)311 205 52 %632 530 19 %
LNG volumes loaded (TBtu)313 207 51 %630 534 18 %
Net income decreased $11 million during the three months ended June 30, 2021 as compared to the three months ended June 30, 2020, primarily as a result of decreased total margins2 due primarily to the non-recurrence of net accelerated revenues recognized from cancelled LNG cargoes during the three months ended June 30, 2020 of $228 million, which was partially offset by increased revenue from increased volume of LNG delivered between the periods. Additionally, the decrease in net income was partially offset by decreased loss on modification or extinguishment of debt and decreased interest expense, net of capitalized interest.
Net income decreased by $99 million during the six months ended June 30, 2021 from the comparable period in 2020, primarily as a result of decreased total margins2 due primarily to the non-recurrence of accelerated revenues recognized from cancelled LNG cargoes during the six months ended June 30, 2020 of $244 million, which were partially offset by increased revenue from increased volume of LNG delivered between the periods. Net income also
___________________________
1 Non-GAAP financial measure. See “Reconciliation of Non-GAAP Measures” for further details.
2 Total margins as used herein refers to total revenues less cost of sales.

decreased due to increased loss on extinguishment of debt, which was partially offset by decreased interest expense, net of capitalized interest.
During the three and six months ended June 30, 2021, we recognized in income 313 and 630 TBtu, respectively, of LNG loaded from the SPL Project (defined below). Additionally, in the six months ended June 30, 2021, we recognized in income 8 TBtu of LNG which was procured by Sabine Pass Liquefaction, LLC (“SPL”) from Cheniere Energy, Inc.’s Corpus Christi liquefaction facility.
During the three and six months ended June 30, 2020, we recognized $388 million and $404 million, respectively, in LNG revenues associated with cancelled LNG cargoes, of which $244 million would have been recognized subsequent to June 30, 2020 had the cargoes been lifted pursuant to the delivery schedules with the customers. LNG revenues during the three months ended June 30, 2020 excluded $16 million that would have otherwise been recognized during the quarter if the cargoes were lifted pursuant to the delivery schedules with the customers. We did not have any such revenue timing impacts during the three and six months ended June 30, 2021.
KEY FINANCIAL TRANSACTIONS
Year to date, SPL has entered into a series of note purchase agreements for the sale of approximately $347 million aggregate principal amount of Senior Secured Notes due 2037 (the “2037 SPL Private Placement Senior Secured Notes”) on a private placement basis. The 2037 SPL Private Placement Senior Secured Notes are expected to be issued in the second half of 2021, subject to customary closing conditions, and the net proceeds are expected to be used to refinance a portion of SPL’s outstanding 6.25% SPL Senior Secured Notes due 2022 and related fees, costs, and expenses. The 2037 SPL Private Placement Senior Secured Notes will be fully amortizing, with a weighted average life of over 10 years.

SABINE PASS LIQUEFACTION PROJECT UPDATE
As of July 31, 2021, approximately 1,350 cumulative LNG cargoes totaling over 90 million tonnes of LNG have been produced, loaded, and exported from the SPL Project.
Construction Progress as of June 30, 2021
SPL Project
Train 6
Project StatusUnder Construction
Project Completion Percentage (1)
89.6% (1)
Expected Substantial Completion1H 2022
(1) Engineering 99.7% complete, procurement 99.9% complete, and construction 79.3% complete
SPL Project Overview
We own natural gas liquefaction facilities consisting of five operational liquefaction Trains and one additional Train under construction, with a total production capacity of approximately 30 million tonnes per annum (“mtpa”) of LNG at the Sabine Pass LNG terminal (the “SPL Project”).
DISTRIBUTIONS TO UNITHOLDERS
We declared a cash distribution of $0.665 per common unit to unitholders of record as of August 6, 2021 and the related general partner distribution to be paid on August 13, 2021.
INVESTOR CONFERENCE CALL AND WEBCAST
Cheniere Energy, Inc. will host a conference call to discuss its financial and operating results for the second quarter 2021 on Thursday, August 5, 2021, at 11 a.m. Eastern time / 10 a.m. Central time. A listen-only webcast of the call and an accompanying slide presentation may be accessed through our website at www.cheniere.com. Following the


call, an archived recording will be made available on our website. The call and accompanying slide presentation may include financial and operating results or other information regarding Cheniere Partners.

About Cheniere Partners
Cheniere Partners owns the Sabine Pass LNG terminal located in Cameron Parish, Louisiana, which has natural gas liquefaction facilities consisting of five operational liquefaction Trains and one additional Train under construction, with a total production capacity of approximately 30 mtpa of LNG. The Sabine Pass LNG terminal also has operational regasification facilities that include five LNG storage tanks, vaporizers, and two marine berths with a third marine berth under construction. Cheniere Partners also owns the Creole Trail Pipeline, which interconnects the Sabine Pass LNG terminal with a number of large interstate pipelines.

For additional information, please refer to the Cheniere Partners website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, filed with the Securities and Exchange Commission.

Use of Non-GAAP Financial Measures
In addition to disclosing financial results in accordance with U.S. GAAP, the accompanying news release contains a non-GAAP financial measure. Adjusted EBITDA is a non-GAAP financial measure that is used to facilitate comparisons of operating performance across periods. This non-GAAP measure should be viewed as a supplement to and not a substitute for our U.S. GAAP measures of performance and the financial results calculated in accordance with U.S. GAAP, and the reconciliation from these results should be carefully evaluated.

Forward-Looking Statements
This press release contains certain statements that may include “forward-looking statements.” All statements, other than statements of historical or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, (i) statements regarding Cheniere Partners’ financial and operational guidance, business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding expectations regarding regulatory authorizations and approvals, (iii) statements expressing beliefs and expectations regarding the development of Cheniere Partners’ LNG terminal and liquefaction business, (iv) statements regarding the business operations and prospects of third parties, (v) statements regarding potential financing arrangements, (vi) statements regarding future discussions and entry into contracts, and (vii) statements regarding the COVID-19 pandemic and its impact on our business and operating results. Although Cheniere Partners believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere Partners’ actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere Partners’ periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere Partners does not assume a duty to update these forward-looking statements.

 (Financial Tables Follow)


Cheniere Energy Partners, L.P.
Consolidated Statements of Income
(in millions, except per unit data)(1)
(unaudited)
 Three Months EndedSix Months Ended
June 30,June 30,
 2021202020212020
Revenues
LNG revenues$1,597 $1,332 $3,266 $2,781 
LNG revenues—affiliate211 61 425 249 
Regasification revenues67 68 134 135 
Other revenues14 9 27 23 
Total revenues1,889 1,470 3,852 3,188 
Operating costs and expenses
Cost of sales (excluding items shown separately below)888 398 1,836 1,097 
Cost of sales—affiliate12 5 54 5 
Cost of sales—related party1 — 1 — 
Operating and maintenance expense168 165 317 317 
Operating and maintenance expense—affiliate35 48 69 81 
Operating and maintenance expense—related party12 — 22 — 
Development expense1 — 1 — 
General and administrative expense3 8 5 10 
General and administrative expense—affiliate21 24 42 49 
Depreciation and amortization expense138 138 277 276 
Impairment expense and loss on disposal of assets6 — 6 5 
Total operating costs and expenses1,285 786 2,630 1,840 
Income from operations604 684 1,222 1,348 
Other income (expense)
Interest expense, net of capitalized interest(209)(236)(426)(470)
Loss on modification or extinguishment of debt— (42)(54)(43)
Other income, net— — — 6 
Total other expense(209)(278)(480)(507)
Net income$395 $406 $742 $841 
Basic and diluted net income per common unit$0.73 $0.78 $1.38 $1.62 
Weighted average number of common units outstanding used for basic and diluted net income per common unit calculation484.0 348.6 484.0 348.6 
(1)Please refer to the Cheniere Energy Partners, L.P. Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, filed with the Securities and Exchange Commission.






Cheniere Energy Partners, L.P.
Consolidated Balance Sheets
(in millions, except unit data) (1)
June 30,December 31,
20212020
ASSETS(unaudited) 
Current assets
Cash and cash equivalents$1,239 $1,210 
Restricted cash65 97 
Accounts and other receivables, net of current expected credit losses285 318 
Accounts receivable—affiliate65 184 
Advances to affiliate154 144 
Inventory116 107 
Current derivative assets23 14 
Other current assets97 61 
Other current assets—affiliate1 — 
Total current assets2,045 2,135 
Property, plant and equipment, net of accumulated depreciation16,789 16,723 
Operating lease assets, net of accumulated amortization95 99 
Debt issuance costs, net of accumulated amortization14 17 
Derivative assets21 11 
Other non-current assets, net159 160 
Total assets$19,123 $19,145 
LIABILITIES AND PARTNERS’ EQUITY  
Current liabilities  
Accounts payable$16 $12 
Accrued liabilities649 658 
Accrued liabilities—related party4 4 
Current debt, net of discount and debt issuance costs654 — 
Due to affiliates38 53 
Deferred revenue105 137 
Deferred revenue—affiliate11 1 
Current operating lease liabilities8 7 
Current derivative liabilities21 11 
Total current liabilities1,506 883 
Long-term debt, net of premium, discount and debt issuance costs16,935 17,580 
Operating lease liabilities87 90 
Derivative liabilities8 35 
Other non-current liabilities— 1 
Other non-current liabilities—affiliate16 17 
Partners’ equity
Common unitholders’ interest (484.0 million units issued and outstanding at both June 30, 2021 and December 31, 2020)805 714 
General partner’s interest (2% interest with 9.9 million units issued and outstanding at June 30, 2021 and December 31, 2020)(234)(175)
Total partners’ equity571 539 
Total liabilities and partners’ equity$19,123 $19,145 
(1)Please refer to the Cheniere Energy Partners, L.P. Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, filed with the Securities and Exchange Commission.



Reconciliation of Non-GAAP Measures
Regulation G Reconciliations
Adjusted EBITDA
The following table reconciles our Adjusted EBITDA to U.S. GAAP results for the three and six months ended June 30, 2021 and 2020 (in millions):
Three Months Ended June 30,Six Months Ended June 30,
 2021202020212020
Net income$395 $406 $742 $841 
Interest expense, net of capitalized interest209 236 426 470 
Loss on modification or extinguishment of debt— 42 54 43 
Other income, net— — — (6)
Income from operations$604 $684 $1,222 $1,348 
Adjustments to reconcile income from operations to Adjusted EBITDA:
Depreciation and amortization expense138 138 277 276 
Gain from changes in fair value of commodity derivatives, net (1)
(58)(9)(36)(26)
Impairment expense and loss on disposal of assets6 — 6 5 
Incremental costs associated with COVID-19 response— 33 — 35 
Adjusted EBITDA$690 $846 $1,469 $1,638 
(1) Change in fair value of commodity derivatives prior to contractual delivery or termination
Adjusted EBITDA is commonly used as a supplemental financial measure by our management and external users of our consolidated financial statements to assess the financial performance of our assets without regard to financing methods, capital structures, or historical cost basis. Adjusted EBITDA is not intended to represent cash flows from operations or net income as defined by U.S. GAAP and is not necessarily comparable to similarly titled measures reported by other companies.
We believe Adjusted EBITDA provides relevant and useful information to management, investors and other users of our financial information in evaluating the effectiveness of our operating performance in a manner that is consistent with management’s evaluation of financial and operating performance.
Adjusted EBITDA is calculated by taking net income before interest expense, net of capitalized interest, depreciation and amortization, and adjusting for the effects of certain non-cash items, other non-operating income or expense items and other items not otherwise predictive or indicative of ongoing operating performance, including the effects of modification or extinguishment of debt, impairment expense and loss on disposal of assets, changes in the fair value of our commodity derivatives prior to contractual delivery or termination, and non-recurring costs related to our response to the COVID-19 outbreak which are incremental to and separable from normal operations. The change in fair value of commodity derivatives is considered in determining Adjusted EBITDA given that the timing of recognizing gains and losses on these derivative contracts differs from the recognition of the related item economically hedged. We believe the exclusion of these items enables investors and other users of our financial information to assess our sequential and year-over-year performance and operating trends on a more comparable basis and is consistent with management’s own evaluation of performance.


Contacts
Cheniere Partners
Investors
Randy Bhatia713-375-5479
Media Relations
Eben Burnham-Snyder
713-375-5764
Jenna Palfrey
713-375-5491