Annual report pursuant to Section 13 and 15(d)

Schedule I - Condensed Financial Information of Registrant

v2.4.0.8
Schedule I - Condensed Financial Information of Registrant
 12 Months Ended
Dec. 31, 2011
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Financial Information of Parent Company Only Disclosure
SCHEDULE I—CONDENSED FINANCIAL INFORMATION OF REGISTRANT—

CHENIERE ENERGY PARTNERS, L.P.
CONDENSED BALANCE SHEET
(in thousands) 
 
 
December 31,
 
 
2013
 
2012 (1)
ASSETS
 
 

 
 

Current assets
 
 

 
 

Cash and cash equivalents
 
$
314,782

 
$
392,945

Prepaid expenses and other
 
112

 
134

Total current assets
 
314,894

 
393,079

 
 
 
 
 
Investment in affiliates
 
1,328,613

 
1,489,565

Non-current receivable—affiliates
 
—

 
940

Other
 
—

 
874

Total assets
 
$
1,643,507


$
1,884,458

 
 
 
 
 
 
 
 
 
 
LIABILITIES AND STOCKHOLDERS' EQUITY
 
 

 
 

Current liabilities
 
$
3,763

 
$
4,480

Commitments and contingencies
 
 
 
 
Unitholders' equity
 
1,639,744

 
1,879,978

Total liabilities and unitholders' equity
 
$
1,643,507

 
$
1,884,458


 
 
 
 
 
(1) Retrospectively adjusted as discussed in Note 1—"Summary of Significant Accounting Policies" in our Notes to Condensed Financial Statements.

























The accompanying notes are an integral part of these condensed financial statements.
CONDENSED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS
(in thousands) 
 
 
Year Ended December 31,
 
 
2013
 
2012 (1)
 
2011 (1)
Operating costs and expenses
 
$
14,417

 
$
18,262

 
$
13,104

Interest expense, net
 
—

 
12

 
—

Interest income
 
242

 
235

 
38

Equity loss of affiliates
 
(243,942
)
 
(157,416
)
 
(40,494
)
Net loss
 
$
(258,117
)
 
$
(175,431
)
 
$
(53,560
)
 
 
 
 
 
 
 
Other comprehensive income (loss) attributable to affiliates
 
27,240

 
(27,240
)
 
—

Comprehensive loss, net
 
$
(230,877
)
 
$
(202,671
)
 
$
(53,560
)
 
 
 
 
 
(1) Retrospectively adjusted as discussed in Note 1—"Summary of Significant Accounting Policies" in our Notes to Condensed Financial Statements.


































The accompanying notes are an integral part of these condensed financial statements.
CONDENSED STATEMENT OF CASH FLOWS
(in thousands) 
 
 
Year Ended December 31,
 
 
2013
 
2012 (1)
 
2011 (1)
Cash flows from operating activities
 
$
(13,056
)
 
$
(17,508
)
 
$
(13,948
)
 
 
 
 
 
 
 
Cash flows from investing activities
 
 
 
 
 
 
Investment in subsidiaries
 
(405,452
)
 
(1,785,866
)
 
(38,333
)
Distributions received from affiliates, net
 
369,726

 
61,529

 
59,910

Purchase of Creole Trail Pipeline Business, net
 
(313,892
)
 
—

 
—

Other
 
—

 
3

 
—

Net cash used in investing activities
 
(349,618
)
 
(1,724,334
)
 
21,577

 
 
 
 
 
 
 
Cash flows from financing activities:
 
 

 
 

 
 

Proceeds from sale of Class B units
 
—

 
1,887,342

 
—

Distributions to owners
 
(91,386
)
 
(57,821
)
 
(48,149
)
Proceeds from sale of partnership common and general partner units, net
 
375,897

 
250,021

 
70,157

Deferred financing costs
 
—

 
(874
)
 
—

Net cash provided by financing activities
 
284,511

 
2,078,668

 
22,008

 
 
 
 
 
 
 
Net increase in cash and cash equivalents
 
(78,163
)
 
336,826

 
29,637

Cash and cash equivalents—beginning of year
 
392,945

 
56,119

 
26,482

Cash and cash equivalents—end of year
 
$
314,782

 
$
392,945

 
$
56,119

 
 
 
 
 
(1) Retrospectively adjusted as discussed in Note 1—"Summary of Significant Accounting Policies" in our Notes to Condensed Financial Statements.























The accompanying notes are an integral part of these 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").
 
A substantial amount of Cheniere Partners' operating, investing, and financing activities are conducted by its affiliates. 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.

In May 2013, we acquired Cheniere Energy, Inc.'s ("Cheniere") ownership interest in Cheniere Creole Trail Pipeline, L.P. ("CTPL") and Cheniere Pipeline GP Interest, LLC (collectively, the "Creole Trail Pipeline Business"), thereby providing us with ownership of a 94-mile pipeline interconnecting the Sabine Pass LNG terminal with a number of large interstate pipelines. The effect on reported equity on including the prior results of the Creole Trail Pipeline Business is reported as Investment in affiliates in our Condensed Balance Sheet and Equity loss of affiliates in our Condensed Statement of Operations. The purchase has been accounted for as a transfer of net assets between entities under common control. We recognize transfers of net assets between entities under common control at Cheniere's historical basis in the net assets sold. In addition, transfers of net assets between entities under common control are accounted for as if the transfer occurred at the beginning of the period, and prior years are retroactively adjusted to furnish comparative information. We also revised the presentation in prior periods of distributions received from affiliates, net within our Condensed Statement of Cash Flows to conform to the presentation adopted in 2013. This reclassification had no effect on our overall consolidated financial position or results of operations.
 
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,
 
 
2013
 
2012
 
2011
 
 
(in thousands)
Non-cash capital contributions (1)
 
$
(243,942
)
 
$
(132,121
)
 
$
(17,953
)
Non-cash capital contributions related to the Creole Trail Pipeline Business (1)
 
(18,150
)
 
(25,295
)
 
(22,541
)
 
(1)
Amounts represent equity gains (losses) of affiliates not funded by Cheniere Partners.