Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions

v3.24.3
Related Party Transactions
 9 Months Ended
Sep. 30, 2024
Related Party Transactions [Abstract]  
Related Party Transactions RELATED PARTY TRANSACTIONS
 
Below is a summary of our transactions with our affiliates and other related parties, all in the ordinary course of business, as reported on our Consolidated Statements of Operations (in millions):
Three Months Ended September 30, Nine Months Ended September 30,
2024 2023 2024 2023
LNG revenues—affiliate
SPAs and Letter Agreements with Cheniere Marketing
$ 526  $ 513  $ 1,441  $ 1,742 
Contracts for Sale and Purchase of Natural Gas and LNG —  2  —  3 
Total LNG revenues—affiliate 526  515  1,441  1,745 
Cost of sales—affiliate
Cheniere Marketing Agreements —  —  4  — 
Contracts for Sale and Purchase of Natural Gas and LNG —  2  —  20 
Total cost of sales—affiliate —  2  4  20 
Operating and maintenance expense—affiliate
Services Agreements (see Note 1)
41  38  123  120 
Operating and maintenance expense—related party
Natural Gas Transportation and Storage Agreements (1) 15  14  44  44 
General and administrative expense—affiliate
Services Agreements (see Note 1)
23  20  68  66 
Other operating costs and expenses—affiliate
Services Agreements (see Note 1)
1  1  2  1 
(1)These arrangements are with a party who indirectly owns a portion of our limited partner interests.
Assets and liabilities arising from the agreements with affiliates and other related parties referenced in the above table are classified as affiliate and related party, respectively, on our Consolidated Balance Sheets.

Disclosures relating to future consideration under revenue contracts with affiliates is included in Note 9—Revenues.
See our annual report on Form 10-K for the fiscal year ended December 31, 2023 for additional information regarding the agreements referenced in the above table, as well as a description of other agreements we have with our affiliates, including the Terminal Marine Services Agreement. Under this agreement, Tug Services distributed $4 million during each of the three months ended September 30, 2024 and 2023 and $8 million during each of the nine months ended September 30, 2024 and 2023 to Cheniere Terminals, which is recognized as part of the distributions to our general partner interest holders on our Consolidated Statements of Partners’ Deficit.