Annual report pursuant to Section 13 and 15(d)

Schedule I - Condensed Financial Information of Registrant

v2.4.0.6
Schedule I - Condensed Financial Information of Registrant
 12 Months Ended
Dec. 31, 2011
SCHEDULE I—CONDENSED FINANCIAL INFORMATION OF REGISTRANT—CHENIERE ENERGY PARTNERS, L.P. [Abstract]  
Condensed Financial Information of Parent Company Only Disclosure [Text Block]
SCHEDULE I—CONDENSED FINANCIAL INFORMATION OF REGISTRANT—

CHENIERE ENERGY PARTNERS, L.P.
CONDENSED BALANCE SHEET
(in thousands) 
 
 
December 31,
 
 
2011
 
2010
ASSETS
 
 

 
 

Current assets
 
 

 
 

Cash and cash equivalents
 
$
56,119

 
$
26,482

Advances to affiliate
 
136

 
 
Prepaid expenses and other
 
135

 
390

Total current assets
 
56,390

 
26,872

Non-current receivable—affiliates
 
47,238

 
8,905

Total assets
 
$
103,628

 
$
35,777

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
LIABILITIES AND STOCKHOLDERS’ DEFICIT
 
 

 
 

Current liabilities
 
$
3,806

 
$
4,805

Investment in and equity in losses of affiliates
 
644,841

 
566,980

Commitments and contingencies
 
—

 
—

Stockholders' deficit
 
(545,019
)
 
(536,008
)
Total liabilities and stockholders’ deficit
 
$
103,628

 
$
35,777

































See accompanying notes to condensed financial statements.
CONDENSED STATEMENT OF OPERATIONS
(in thousands) 
 
 
Year Ended December 31,
 
 
2011
 
2010
 
2009
Revenues 
 
$
—

 
$
—

 
$
—

Operating costs and expenses
 
13,104

 
14,723

 
12,286

Loss from operations
 
(13,104
)
 
(14,723
)
 
(12,286
)
Interest expense, net
 
—

 
—

 
(13
)
Interest income
 
38

 
51

 
406

Equity income (loss) of affiliates
 
(17,953
)
 
122,240

 
198,805

Net income (loss)
 
$
(31,019
)
 
$
107,568

 
$
186,912









































See accompanying notes to condensed financial statements.
CONDENSED STATEMENT OF CASH FLOWS
(in thousands)
 
 
 
Year Ended December 31,
 
 
2011
 
2010
 
2009
Cash flows from operating activities
 
$
(13,948
)
 
$
(10,193
)
 
$
(10,411
)
 
 
 
 
 
 
 
Cash flows from investing activities
 
 
 
 
 
 
Investment in subsidiaries
 
—

 
(20,918
)
 
—

Net cash used in investing activities
 
—

 
(20,918
)
 
—

 
 
 
 
 
 
 
Cash flows from financing activities:
 
 

 
 

 
 

Distributions received from affiliates, net
 
59,910

 
229,608

 
295,684

Distributions to owners
 
(48,149
)
 
(163,249
)
 
(280,674
)
Proceeds from sale of partnership units
 
70,157

 
—

 
—

Use of restricted cash and cash equivalents
 
—

 
—

 
32,757

Special rights adjustment
 
—

 
—

 
(34,879
)
Repayment of long-term note—affiliate
 
—

 
—

 
(2,467
)
Affiliate receivable
 
(38,333
)
 
(8,896
)
 
—

Borrowings under long-term note—affiliate
 
—

 
—

 
114

Net cash provided by financing activities
 
43,585

 
57,463

 
10,535

 
 
 
 
 
 
 
Net increase in cash and cash equivalents
 
29,637

 
26,352

 
124

Cash and cash equivalents—beginning of year
 
26,482

 
130

 
6

Cash and cash equivalents—end of year
 
$
56,119

 
$
26,482

 
$
130



























See accompanying notes to condensed financial statements.
NOTES TO CONDENSED FINANCIAL STATEMENTS
NOTE 1—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
The condensed financial statements represent the financial information required by Securities and Exchange Commission Regulation S-X 5-04 for Cheniere Energy Partners, L.P. ("Cheniere Partners").
 
In the condensed financial statements, Cheniere Partners’ investments in affiliates are presented under the equity method of accounting. Under this method, the assets and liabilities of affiliates are not consolidated. The investments in net assets of the affiliates are recorded in the balance sheets. The gain/(loss) from operations of the affiliates is reported on a net basis as equity in net gains/(losses) of affiliates.
 
A substantial amount of Cheniere Partners’ operating, investing, and financing activities are conducted by its affiliates. The condensed financial statements should be read in conjunction with Cheniere Partners’ Consolidated Financial Statements.
 NOTE 2—SUPPLEMENTAL CASH FLOW INFORMATION AND DISCLOSURES OF NON-CASH TRANSACTIONS
 
 
 
Year Ended December 31,
 
 
2011
 
2010
 
2009
 
 
(in thousands)
Non-cash capital contributions (1)
 
$
(17,953
)
 
$
122,240

 
$
198,805

 
(1)
Amounts represent equity gains (losses) of affiliates not funded by Cheniere Partners.