Cheniere Energy Partners, L.P. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Related Party Transactions (Tables)

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2024

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):


	Year Ended December 31,
		2024		2023		2022
LNG revenues—affiliate
SPAs and Letter Agreements with Cheniere Marketing (1)		$	1,954	$	2,472	$	4,565
Contracts for Sale and Purchase of Natural Gas and LNG (2)		—		3		3
Total LNG revenues—affiliate		1,954		2,475		4,568










Cost of sales—affiliate
Cheniere Marketing Agreements (1)		4		—		—
Contracts for Sale and Purchase of Natural Gas and LNG (2)		—		22		213
Total cost of sales—affiliate		4		22		213






Operating and maintenance expense—affiliate

Services Agreements (see Note 1) (3)		172		166		166



Operating and maintenance expense—related party
Natural Gas Transportation and Storage Agreements (4)		58		62		72

General and administrative expense—affiliate
Services Agreements (see Note 1) (3)		90		89		92

Other operating costs and expenses—affiliate
Services Agreements (see Note 1) (3)		2		1		—

(1)SPL primarily sells LNG to Cheniere Marketing under SPAs and letter agreements at a price equal to 115% of Henry Hub plus a fixed fee, except for an SPA associated with an IPM agreement for which pricing is linked to international natural gas prices. SPL also has a master SPA agreement with Cheniere Marketing that allows us to sell and purchase LNG with Cheniere Marketing by executing and delivering confirmations under this agreement. As of December 31, 2024 and 2023, SPL had $161 million and $272 million of trade and other receivables—affiliate, respectively, under these agreements with Cheniere Marketing. In addition, SPL has an arrangement with Cheniere Marketing to provide the ability, in limited circumstances, to potentially fulfill commitments to LNG buyers in the event operational conditions impact operations at either the Sabine Pass or Corpus Christi liquefaction facilities. The purchase price for such cargoes would be the greater of: (a) 115% of the applicable natural gas feedstock purchase price or (b) an FOB U.S. Gulf Coast LNG market price.

(2)SPL has an agreement with CCL that allows them to sell and purchase natural gas and LNG from each other. Natural gas purchased under these agreements is initially recorded as inventory and then to cost of sales—affiliate upon its sale, except for purchases related to commissioning activities which are capitalized as LNG terminal construction-in-process. Additionally, SPLNG is able to sell and purchase natural gas and LNG under agreements with Cheniere Marketing. As of December 31, 2024 and 2023, the amount of trade and other receivables—affiliate associated with these agreements was immaterial.

(3)We do not have employees and thus we and our subsidiaries have various services agreements with affiliates of Cheniere in the ordinary course of business, including services required to construct, operate and maintain the Liquefaction Project, and administrative services. Prior to the substantial completion of each Train of the Liquefaction Project, our payments under the services agreements were primarily based on a cost reimbursement structure, and following the completion of each Train, our payments include a fixed monthly fee (indexed for inflation) per mtpa in addition to the reimbursement of costs. As of December 31, 2024 and 2023, we had $101 million and $84 million of advances to affiliates, respectively, under the services agreements. The non-reimbursement amounts incurred under these agreements are recorded in general and administrative expense—affiliate.

(4)SPL is party to various natural gas transportation and storage agreements and CTPL is party to an operational balancing agreement with a related party in the ordinary course of business for the operation of the Liquefaction

Project. This related party is partially owned by Brookfield, who indirectly owns a portion of our limited partner interests. SPL recorded accrued liabilities—related party of $5 million as of both December 31, 2024 and 2023, respectively, with this related party.