Cheniere Energy Partners, L.P.

Overview

Cheniere Energy Partners, L.P. is a publicly traded U.S. limited partnership that produces and exports liquefied natural gas (LNG). Its customers include integrated energy companies, utilities and energy traders around the world. The partnership states that it aims to provide clean, secure and affordable LNG while operating safely and responsibly.[1]

Its operations are centered on the Sabine Pass LNG terminal in Louisiana, which had more than 30 million tonnes per year of liquefaction capacity at the end of 2025. The partnership also owns and operates the 94-mile Creole Trail Pipeline, which connects the terminal to natural-gas pipelines. LNG produced at Sabine Pass is shipped to markets worldwide.[2][3] The partnership reported $10.758 billion in revenue for 2025.[4] [1]+3

Products & services

Cheniere Energy Partners’ principal product is liquefied natural gas (LNG) produced at its Sabine Pass facility in Louisiana. The facility has LNG production capacity of more than 30 million tonnes per year, five storage tanks with aggregate capacity of approximately 17 billion cubic feet of natural-gas equivalent, and three marine berths for loading LNG carriers. Two berths can accommodate vessels with nominal capacity of up to 266,000 cubic meters; the third can accommodate vessels of up to 200,000 cubic meters.[5]

The partnership sells LNG to third parties under long-term sale and purchase agreements and to affiliate Cheniere Marketing, which can market production not committed under long-term contracts. Third-party LNG sales are generally free on board at Sabine Pass, with prices comprising a fixed fee per MMBtu—generally payable even if a customer cancels a cargo—and a variable fee generally equal to 115% of the Henry Hub natural-gas price. The partnership also has integrated production marketing arrangements under which gas producers supply feedstock at a price linked to an LNG or natural-gas index, less liquefaction, shipping and other costs.[6][7]

Sabine Pass also provides LNG regasification services through vaporizers with capacity of approximately 4 billion cubic feet per day. A third party reserves approximately 1 billion cubic feet per day under a terminal use agreement requiring fixed monthly payments whether or not it uses the capacity. The partnership’s 94-mile Creole Trail Pipeline connects the terminal to interstate and intrastate natural-gas pipelines to supply feedstock.[8][5] LNG sales, including affiliate sales, accounted for approximately 98% of total revenue in 2025; regasification accounted for approximately 1%.[4] [5]+4

Geographic presence

Cheniere Energy Partners’ operating footprint is centered on the Sabine Pass LNG export terminal in Cameron Parish, Louisiana. It also owns the 94-mile Creole Trail Pipeline, which connects the terminal to interstate and intrastate natural gas pipelines. Its principal executive offices are in Houston, Texas.[5][9]

The partnership serves energy companies, utilities and traders around the world, but does not identify sales by customer country or region. LNG sales are generally made free on board at Sabine Pass, where customers take delivery; that delivery point does not indicate the cargo’s eventual destination.[10]+2 [5]+4

Business segments

Cheniere Energy Partners reports **one operating and reportable segment**; it does not report separate financial segments for LNG liquefaction and regasification. Its Sabine Pass operations include liquefying natural gas for sale as LNG, primarily under long-term sales agreements, and providing regasification capacity under terminal-use agreements. The regasification business includes capacity reserved by a third party and capacity reserved by the partnership’s liquefaction business; the latter’s associated revenue is eliminated on consolidation.[12]+2

Revenue categories provide an approximate breakdown of activity, rather than a breakdown by reportable segment. In 2025, LNG sales to non-affiliates accounted for about **76%** of consolidated revenue and LNG sales to affiliates for about **22%**. Regasification contributed about **1%**, with other revenue making up the remainder. Combined LNG sales therefore represented about **98%** of revenue.[14] [12]+8

Company history

Cheniere Energy Partners, L.P. was formed by Cheniere Energy in 2006 and began operations in March 2007 following its initial public offering. Its principal asset, the Sabine Pass LNG terminal in Louisiana, opened in 2008 as a facility for receiving and regasifying imported liquefied natural gas.[16]+2

In 2010, the partnership initiated a project to add liquefaction and export capability at Sabine Pass. It approved investment in the first two liquefaction trains in 2012 and two more in 2013. The terminal shipped its first LNG export cargo in February 2016. Expansion continued through the substantial completion of a sixth liquefaction train in February 2022.[19]+4 [16]+7

Sources

• Cheniere Energy Partners, L.P. — Full financial report (2025 Y)
  14 citations

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• www.sec.gov[14]
• www.sec.gov[16]
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• lngir.cheniere.com[18]
• cqpir.cheniere.com[19]
• cqpir.cheniere.com[20]
• cqpir.cheniere.com[21]
• cqpir.cheniere.com[22]
• lngir.cheniere.com[23]