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CQP Cheniere Energy Partners

Document and Entity Information

Document and Entity Information - shares3 Months Ended
Mar. 31, 2021Apr. 30, 2021
Cover [Abstract]
Document Type10-Q
Document Quarterly Reporttrue
Document Period End DateMar. 31,
2021
Document Transition Reportfalse
Entity File Number001-33366
Entity Registrant NameCheniere Energy Partners, L.P.
Entity Incorporation, State or Country CodeDE
Entity Tax Identification Number20-5913059
Entity Address, Address Line One700 Milam Street
Entity Address, Address Line TwoSuite 1900
Entity Address, City or TownHouston
Entity Address, State or ProvinceTX
Entity Address, Postal Zip Code77002
City Area Code713
Local Phone Number375-5000
Title of 12(b) SecurityCommon Units Representing Limited Partner Interests
Trading SymbolCQP
Security Exchange NameNYSEAMER
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryLarge Accelerated Filer
Entity Small Businessfalse
Entity Emerging Growth Companyfalse
Entity Shell Companyfalse
Entity Units, Units Outstanding484,021,123
Entity Central Index Key0001383650
Amendment Flagfalse
Current Fiscal Year End Date--12-31
Document Fiscal Year Focus2021
Document Fiscal Period FocusQ1

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Revenues
Revenues $ 1,963 $ 1,718
Operating costs and expenses
Cost of sales (excluding items shown separately below)948 699
Cost of sales—affiliate42 0
Operating and maintenance expense149 152
Operating and maintenance expense—affiliate34 33
Operating and maintenance expense—related party10 0
General and administrative expense2 2
General and administrative expense—affiliate21 25
Depreciation and amortization expense139 138
Impairment expense and loss on disposal of assets0 5
Total operating costs and expenses1,345 1,054
Income from operations618 664
Other income (expense)
Interest expense, net of capitalized interest(217)(234)
Loss on modification or extinguishment of debt(54)(1)
Other income, net0 6
Total other expense(271)(229)
Net income $ 347 $ 435
Basic and diluted net income per common unit $ 0.64 $ 0.84
Weighted average number of common units outstanding used for basic and diluted net income per common unit calculation484 348.6
LNG [Member]
Revenues
Revenues $ 1,669 $ 1,449
Revenues from contracts with customers[1]1,669 1,449
LNG—affiliate [Member]
Revenues
Revenues from contracts with customers214 188
Regasification [Member]
Revenues
Revenues from contracts with customers67 67
Other [Member]
Revenues
Revenues from contracts with customers $ 13 $ 14
[1]LNG revenues include revenues for LNG cargoes in which our customers exercised their contractual right to not take delivery but remained obligated to pay fixed fees irrespective of such election. During the three months ended March 31, 2020, we recognized $16 million in LNG revenues associated with LNG cargoes for which customers notified us that they would not take delivery, which would have been recognized subsequent to March 31, 2020 had the cargoes been lifted pursuant to the delivery schedules with the customers. We did not have such revenues during the three months ended March 31, 2021. Revenue is generally recognized upon receipt of irrevocable notice that a customer will not take delivery because our customers have no contractual right to take delivery of such LNG cargo in future periods and our performance obligations with respect to such LNG cargo have been satisfied.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
Current assets
Cash and cash equivalents $ 1,219 $ 1,210
Restricted cash123 97
Accounts and other receivables, net373 318
Accounts receivable—affiliate98 184
Advances to affiliate127 144
Inventory103 107
Derivative assets16 14
Other current assets59 61
Other current assets—affiliate2 0
Total current assets2,120 2,135
Property, plant and equipment, net16,734 16,723
Operating lease assets, net97 99
Debt issuance costs, net16 17
Non-current derivative assets9 11
Other non-current assets, net177 160
Total assets19,153 19,145
Current liabilities
Accounts payable11 12
Accrued liabilities704 658
Accrued liabilities—related party3 4
Current debt850 0
Due to affiliates31 53
Deferred revenue101 137
Deferred revenue—affiliate5 1
Current operating lease liabilities8 7
Derivative liabilities26 11
Total current liabilities1,739 883
Long-term debt, net16,732 17,580
Non-current operating lease liabilities89 90
Non-current derivative liabilities42 35
Other non-current liabilities0 1
Other non-current liabilities—affiliate16 17
Partners’ equity
Common unitholders’ interest (484.0 million units issued and outstanding at both March 31, 2021 and December 31, 2020)738 714
General partner’s interest (2% interest with 9.9 million units issued and outstanding at March 31, 2021 and December 31, 2020)(203)(175)
Total partners’ equity535 539
Total liabilities and partners’ equity $ 19,153 $ 19,145

Consolidated Balance Sheets Par

Consolidated Balance Sheets Parentheticals - shares shares in Millions3 Months Ended12 Months Ended
Mar. 31, 2021Dec. 31, 2020Mar. 31, 2020Dec. 31, 2019
Cheniere Partners [Member]
General Partner Ownership Interest Percentage2.00%2.00%
Common Units [Member]
Limited Partners' Capital Account, Units Outstanding484 484 348.6 348.6
General Partner [Member]
General Partners' Capital Account, Units Outstanding9.9 9.9 9.9 9.9

Consolidated Statements of Part

Consolidated Statements of Partners' Equity - USD ($) shares in Millions, $ in MillionsTotalCommon Units [Member]Subordinated Units [Member]General Partner [Member]
Units, Outstanding, beginning of period at Dec. 31, 2019348.6 135.4
Partners' equity, beginning of period at Dec. 31, 2019 $ 715 $ 1,792 $ (996) $ (81)
General partner units, Outstanding, beginning of period at Dec. 31, 20199.9
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income435 307 119 $ 9
Distributions $ (220) $ (85)(25)
Units, Outstanding, end of period at Mar. 31, 2020348.6 135.4
Partners' equity, end of period at Mar. 31, 2020820 $ 1,879 $ (962) $ (97)
General partner units, Outstanding, end of period at Mar. 31, 20209.9
Units, Outstanding, beginning of period at Dec. 31, 2020484 0
Partners' equity, beginning of period at Dec. 31, 2020539 $ 714 $ 0 $ (175)
General partner units, Outstanding, beginning of period at Dec. 31, 20209.9
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income347 340 $ 0 $ 7
Distributions $ (316)(35)
Units, Outstanding, end of period at Mar. 31, 2021484 0
Partners' equity, end of period at Mar. 31, 2021 $ 535 $ 738 $ 0 $ (203)
General partner units, Outstanding, end of period at Mar. 31, 20219.9

Consolidated Statements of Pa_2

Consolidated Statements of Partners' Equity Parentheticals - $ / shares3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Common Units [Member]
Distributions Paid, Per Unit $ 0.655 $ 0.63
Subordinated Units [Member]
Distributions Paid, Per Unit $ 0.63

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Cash flows from operating activities
Net Income $ 347 $ 435
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense139 138
Amortization of debt issuance costs, premium and discount8 9
Loss on modification or extinguishment of debt54 1
Total losses (gains) on derivatives, net2 (21)
Net cash provided by settlement of derivative instruments20 5
Impairment expense and loss on disposal of assets0 5
Other3 3
Changes in operating assets and liabilities:
Accounts and other receivables, net(56)38
Accounts receivable—affiliate86 67
Advances to affiliate18 17
Inventory4 19
Accounts payable and accrued liabilities24 (100)
Accrued liabilities—related party(1)0
Due to affiliates(20)(13)
Deferred revenue(36)(61)
Other, net(6)(3)
Other, net—affiliate2 (4)
Net cash provided by operating activities588 535
Cash flows from investing activities
Property, plant and equipment, net(146)(317)
Net cash used in investing activities(146)(317)
Cash flows from financing activities
Proceeds from issuances of debt1,500 0
Repayments of debt(1,500)0
Debt issuance and other financing costs(19)(7)
Debt extinguishment costs(40)0
Distributions to owners(351)(330)
Other3 0
Net cash used in financing activities(407)(337)
Net increase (decrease) in cash, cash equivalents and restricted cash35 (119)
Cash, cash equivalents and restricted cash—beginning of period1,307 1,962
Cash, cash equivalents and restricted cash—end of period $ 1,342 $ 1,843

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows - Balances per Consolidated Balance Sheets - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020Mar. 31, 2020Dec. 31, 2019
Balances per Consolidated Balance Sheets:
Cash and cash equivalents $ 1,219 $ 1,210
Restricted cash123 97
Total cash, cash equivalents and restricted cash $ 1,342 $ 1,307 $ 1,843 $ 1,962

Nature of Operations and Basis

Nature of Operations and Basis of Presentation3 Months Ended
Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Basis of PresentationNATURE OF OPERATIONS AND BASIS OF PRESENTATION The Sabine Pass LNG terminal is located in Cameron Parish, Louisiana, on the Sabine-Neches Waterway less than four miles from the Gulf Coast. Through our subsidiary, SPL, we are currently operating five natural gas liquefaction Trains and are constructing one additional Train that is expected to be substantially completed in the first half of 2022, for a total production capacity of approximately 30 mtpa of LNG (the “Liquefaction Project”) at the Sabine Pass LNG terminal. Through our subsidiary, SPLNG, we own and operate regasification facilities at the Sabine Pass LNG terminal, which includes pre-existing infr astructure of five LNG storage tanks, two marine berths and vaporizers and an additional marine berth that is under construction. We also own a 94-mile pipeline through our subsidiary, CTPL, that interconnects the Sabine Pass LNG terminal with a number of large interstate pipelines (the “Creole Trail Pipeline”). Basis of Presentation The accompanying unaudited Consolidated Financial Statements of Cheniere Partners have been prepared in accordance with GAAP for interim financial information and with Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the Consolidated Financial Statements and accompanying notes included in our annual report on Form 10-K for the fiscal year ended D e ce mber 31, 2020 . Results of operations for the three months ended March 31, 2021 are not necessarily indicative of the results of operations that will be realized for the year ending December 31, 2021. We are not subject to either federal or state income tax, as our partners are taxed individually on their allocable share of our taxable income. Recent Accounting Standards In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . This guidance primarily provides temporary optional expedients which simplify the accounting for contract modifications to existing debt agreements expected to arise from the market transition from LIBOR to alternative reference rates. The optional expedients were available to be used upon issuance of this guidance but we have not yet applied the guidance because we have not yet modified any of our existing contracts for reference rate reform. Once we apply an optional expedient to a modified contract and adopt this standard, the guidance will be applied to all subsequent applicable contract modifications until December 31, 2022, at which time the optional expedients are no longer available.

Unitholders' Equity

Unitholders' Equity3 Months Ended
Mar. 31, 2021
Partners' Capital Notes [Abstract]
Unitholders' EquityUNITHOLDERS’ EQUITY The common units represent limited partner interests in us. The holders of the units are entitled to participate in partnership distributions and exercise the rights and privileges available to limited partners under our partnership agreement. Our partnership agreement requires that, within 45 days after the end of each quarter, we distribute all of our available cash (as defined in our partnership agreement). Generally, our available cash is our cash on hand at the end of a quarter less the amount of any reserves established by our general partner. All distributions paid to date have been made from accumulated operating surplus as defined in the partnership agreement. Although common unitholders are not obligated to fund losses of the Partnership, its capital account, which would be considered in allocating the net assets of the Partnership were it to be liquidated, continues to share in losses. The general partner interest is entitled to at least 2% of all distributions made by us. In addition, the general partner holds incentive distribution rights (“IDRs”), which allow the general partner to receive a higher percentage of quarterly distributions of available cash from operating surplus as additional target levels are met, but may transfer these rights separately from its general partner interest. The higher percentages range from 15% to 50%, inclusive of the general partner interest. As of March 31, 2021, our total securities beneficially owned in the form of common units were held 48.6% by Cheniere, 41.4% by BX CQP Target Holdco L.L.C. (“BX CQP Target Holdco”) and other affiliates of The Blackstone Group

Restricted Cash

Restricted Cash3 Months Ended
Mar. 31, 2021
Restricted Cash [Abstract]
Restricted CashRESTRICTED CASH Restricted cash consists of funds that are contractually or legally restricted as to usage or withdrawal and have been presented separately from cash and cash equivalents on our Consolidated Balance Sheets. As of March 31, 2021 and December 31, 2020, we had $123 million and $97 million of restricted cash, respectively.

Accounts and Other Receivables

Accounts and Other Receivables3 Months Ended
Mar. 31, 2021
Receivables [Abstract]
Accounts and Other ReceivablesACCOUNTS AND OTHER RECEIVABLES As of March 31, 2021 and December 31, 2020, accounts and other receivables, net consisted of the following (in millions): March 31, December 31, 2021 2020 SPL trade receivable $ 349 $ 300 Other accounts receivable 24 18 Total accounts and other receivables, net $ 373 $ 318

Inventory

Inventory3 Months Ended
Mar. 31, 2021
Inventory Disclosure [Abstract]
InventoryINVENTORY As of March 31, 2021 and December 31, 2020, inventory consisted of the following (in millions): March 31, December 31, 2021 2020 Materials $ 82 $ 81 LNG 11 8 Natural gas 9 17 Other 1 1 Total inventory $ 103 $ 107

Property, Plant and Equipment

Property, Plant and Equipment3 Months Ended
Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Property, Plant and EquipmentPROPERTY, PLANT AND EQUIPMENT As of March 31, 2021 and December 31, 2020, property, plant and equipment, net consisted of the following (in millions): March 31, December 31, 2021 2020 LNG terminal costs LNG terminal and interconnecting pipeline facilities $ 16,909 $ 16,908 LNG terminal construction-in-process 2,300 2,154 Accumulated depreciation (2,481) (2,344) Total LNG terminal costs, net 16,728 16,718 Fixed assets Fixed assets 30 29 Accumulated depreciation (24) (24) Total fixed assets, net 6 5 Property, plant and equipment, net $ 16,734 $ 16,723 The following table shows depreciation expense during the three months ended March 31, 2021 and 2020 (in millions): Three Months Ended March 31, 2021 2020 Depreciation expense $ 138 $ 137

Derivative Instruments

Derivative Instruments3 Months Ended
Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative InstrumentsDERIVATIVE INSTRUMENTS We have entered into commodity derivatives consisting of natural gas supply contracts for the commissioning and operation of the Liquefaction Project (“Physical Liquefaction Supply Derivatives”) and associated economic hedges (“Financial Liquefaction Supply Derivatives,” and collectively with the Physical Liquefaction Supply Derivatives, the “Liquefaction Supply Derivatives”). We recognize our derivative instruments as either assets or liabilities and measure those instruments at fair value. None of our derivative instruments are designated as cash flow or fair value hedging instruments, and changes in fair value are recorded within our Consolidated Statements of Income to the extent not utilized for the commissioning process. The following table shows the fair value of our derivative instruments that are required to be measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020, which are classified as derivative assets, non-current derivative assets, derivative liabilities or non-current derivative liabilities in our Consolidated Balance Sheets (in millions). Fair Value Measurements as of March 31, 2021 December 31, 2020 Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Total Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Total Liquefaction Supply Derivatives asset (liability) $ (4) $ (3) $ (36) $ (43) $ 1 $ (1) $ (21) $ (21) We value our Liquefaction Supply Derivatives using a market-based approach incorporating present value techniques, as needed, using observable commodity price curves, when available, and other relevant data. The fair value of our Physical Liquefaction Supply Derivatives is predominantly driven by observable and unobservable market commodity prices and, as applicable to our natural gas supply contracts, our assessment of the associated events deriving fair value, including evaluating whether the respective market is available as pipeline infrastructure is developed. The fair value of our Physical Liquefaction Supply Derivatives incorporates risk premiums related to the satisfaction of conditions precedent, such as completion and placement into service of relevant pipeline infrastructure to accommodate marketable physical gas flow. As of March 31, 2021 and December 31, 2020, some of our Physical Liquefaction Supply Derivatives existed within markets for which the pipeline infrastructure was under development to accommodate marketable physical gas flow. We include a portion of our Physical Liquefaction Supply Derivatives as Level 3 within the valuation hierarchy as the fair value is developed through the use of internal models which incorporate significant unobservable inputs. In instances where observable data is unavailable, consideration is given to the assumptions that market participants would use in valuing the asset or liability. This includes assumptions about market risks, such as future prices of energy units for unobservable periods, liquidity, volatility and contract duration. The Level 3 fair value measurements of natural gas positions within our Physical Liquefaction Supply Derivatives could be materially impacted by a significant change in certain natural gas prices. The following table includes quantitative information for the unobservable inputs for our Level 3 Physical Liquefaction Supply Derivatives as of March 31, 2021: Net Fair Value Liability Valuation Approach Significant Unobservable Input Range of Significant Unobservable Inputs / Weighted Average (1) Physical Liquefaction Supply Derivatives $(36) Market approach incorporating present value techniques Henry Hub basis spread $(0.350) - $0.168 / $(0.001) (1) Unobservable inputs were weighted by the relative fair value of the instruments. Increases or decreases in basis, in isolation, would decrease or increase, respectively, the fair value of our Physical Liquefaction Supply Derivatives. The following table shows the changes in the fair value of our Level 3 Physical Liquefaction Supply Derivatives during the three months ended March 31, 2021 and 2020 (in millions): Three Months Ended March 31, 2021 2020 Balance, beginning of period $ (21) $ 24 Realized and mark-to-market gains (losses): Included in cost of sales (12) 25 Purchases and settlements: Purchases 1 1 Settlements (4) (3) Transfers into Level 3, net (1) — 2 Balance, end of period $ (36) $ 49 Change in unrealized gains (losses) relating to instruments still held at end of period $ (12) $ 25 (1) Transferred into Level 3 as a result of unobservable market, or out of Level 3 as a result of observable market for the underlying natural gas purchase agreements. All counterparty derivative contracts provide for the unconditional right of set-off in the event of default. We have elected to report derivative assets and liabilities arising from our derivative contracts with the same counterparty on a net basis. The use of derivative instruments exposes us to counterparty credit risk, or the risk that a counterparty will be unable to meet its commitments in instances when our derivative instruments are in an asset position. Additionally, counterparties are at risk that we will be unable to meet our commitments in instances where our derivative instruments are in a liability position. We incorporate both our own nonperformance risk and the respective counterparty’s nonperformance risk in fair value measurements. In adjusting the fair value of our derivative contracts for the effect of nonperformance risk, we have considered the impact of any applicable credit enhancements, such as collateral postings, set-off rights and guarantees. Liquefaction Supply Derivatives SPL has entered into primarily index-based physical natural gas supply contracts and associated economic hedges to purchase natural gas for the commissioning and operation of the Liquefaction Project. The remaining terms of the physical natural gas supply contracts range up to 10 years, some of which commence upon the satisfaction of certain events or states of affairs. The terms of the Financial Liquefaction Supply Derivatives range up to approximately three years. The notional natural gas position of our Liquefaction Supply Derivatives was approximately 5,023 TBtu and 4,970 TBtu as of March 31, 2021 and December 31, 2020, respectively, of which 91 TBtu for each of the periods were for a natural gas supply contract that SPL has with a related party. The following table shows the fair value and location of our Liquefaction Supply Derivatives on our Consolidated Balance Sheets (in millions): Fair Value Measurements as of (1) Consolidated Balance Sheets Location March 31, 2021 December 31, 2020 Derivative assets $ 16 $ 14 Non-current derivative assets 9 11 Total derivative assets 25 25 Derivative liabilities (26) (11) Non-current derivative liabilities (42) (35) Total derivative liabilities (68) (46) Derivative liability, net $ (43) $ (21) (1) Does not include collateral posted with counterparties by us of $11 million and $4 million, which are included in other current assets in our Consolidated Balance Sheets as of March 31, 2021 and December 31, 2020, respectively. Includes a natural gas supply contract that SPL has with a related party, which had a fair value of zero as of both March 31, 2021 and December 31, 2020. The following table shows the gain (loss) from changes in the fair value, settlements and location of our Liquefaction Supply Derivatives recorded on our Consolidated Statements of Income during the three months ended March 31, 2021 and 2020 (in millions): Consolidated Statements of Income Location (1) Three Months Ended March 31, 2021 2020 Liquefaction Supply Derivatives Cost of sales $ (2) $ 21 (1) Does not include the realized value associated with derivative instruments that settle through physical delivery. Fair value fluctuations associated with commodity derivative activities are classified and presented consistently with the item economically hedged and the nature and intent of the derivative instrument. Consolidated Balance Sheets Presentation Our derivative instruments are presented on a net basis on our Consolidated Balance Sheets as described above. The following table shows the fair value of our derivatives outstanding on a gross and net basis (in millions): Liquefaction Supply Derivatives As of March 31, 2021 Gross assets $ 68 Offsetting amounts (43) Net assets $ 25 Gross liabilities $ (76) Offsetting amounts 8 Net liabilities $ (68) As of December 31, 2020 Gross assets $ 69 Offsetting amounts (44) Net assets $ 25 Gross liabilities $ (48) Offsetting amounts 2 Net liabilities $ (46)

Other Non-Current Assets

Other Non-Current Assets3 Months Ended
Mar. 31, 2021
Other Assets, Noncurrent [Abstract]
Other Non-Current AssetsOTHER NON-CURRENT ASSETS As of March 31, 2021 and December 31, 2020, other non-current assets, net consisted of the following (in millions): March 31, December 31, 2021 2020 Advances made to municipalities for water system enhancements $ 83 $ 84 Advances and other asset conveyances to third parties to support LNG terminal 33 33 Advances made under EPC and non-EPC contracts 22 9 Tax-related prepayments and receivables 17 17 Information technology service prepayments 5 6 Other 17 11 Total other non-current assets, net $ 177 $ 160

Accrued Liabilities

Accrued Liabilities3 Months Ended
Mar. 31, 2021
Accrued Liabilities, Current [Abstract]
Accrued LiabilitiesACCRUED LIABILITIES As of March 31, 2021 and December 31, 2020, accrued liabilities consisted of the following (in millions): March 31, December 31, 2021 2020 Interest costs and related debt fees $ 226 $ 203 Accrued natural gas purchases 382 374 LNG terminal and related pipeline costs 80 71 Other accrued liabilities 16 10 Total accrued liabilities $ 704 $ 658

Debt

Debt3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]
DebtDEBT As of March 31, 2021 and December 31, 2020, our debt consisted of the following (in millions): March 31, December 31, 2021 2020 Long-term debt: SPL — 4.200% to 6.25% senior secured notes due between March 2022 and September 2037 and working capital facility (“2020 SPL Working Capital Facility”) $ 12,797 $ 13,650 Cheniere Partners — 4.000% to 5.625% senior notes due between October 2025 and March 2031 and credit facilities (“2019 CQP Credit Facilities”) 4,100 4,100 Unamortized premium, discount and debt issuance costs, net (165) (170) Total long-term debt, net 16,732 17,580 Current debt: SPL — current portion of 6.25% senior secured notes due March 2022 (“2022 SPL Senior Notes”) (1) 853 — Unamortized premium, discount and debt issuance costs, net (3) — Total current debt 850 — Total debt, net $ 17,582 $ 17,580 (1) $147 million of the 2022 SPL Senior Notes is categorized as long-term debt because the proceeds from the expected sale of approximately $147 million aggregate principal amount of 2.95% Senior Secured Notes due 2037, expected to be issued in the second half of 2021 pursuant to a note purchase agreement entered into by SPL in February 2021, are expected to be used to refinance a portion of 2022 SPL Senior Notes. Issuances and Redemptions The following table shows the issuances and redemptions of long-term debt during the three months ended March 31, 2021 (in millions): Issuances Principal Amount Issued CQP — 4.000% Senior Notes due 2031 (the “2031 CQP Senior Notes”) (1) $ 1,500 Redemptions Amount Redeemed CQP — 5.250% Senior Notes due 2025 (the “2025 CQP Senior Notes”) (1) $ 1,500 (1) Proceeds of the 2031 CQP Senior Notes, together with cash on hand, were used to redeem all of our outstanding 2025 CQP Senior Notes, resulting in the recognition of debt extinguishment costs of $54 million for the three months ended March 31, 2021 relating to the payment of early redemption fees and write off of unamortized debt premium and issuance costs. Credit Facilities Below is a summary of our credit facilities outstanding as of March 31, 2021 (in millions): 2020 SPL Working Capital Facility (1) 2019 CQP Credit Facilities Original facility size $ 1,200 $ 1,500 Less: Outstanding balance — — Commitments prepaid or terminated — 750 Letters of credit issued 413 — Available commitment $ 787 $ 750 Priority ranking Senior secured Senior secured Interest rate on available balance LIBOR plus 1.125% - 1.750% or base rate plus 0.125% - 0.750% LIBOR plus 1.25% - 2.125% or base rate plus 0.25% - 1.125% Weighted average interest rate of outstanding balance n/a n/a Maturity date March 19, 2025 May 29, 2024 (1) The 2020 SPL Working Capital Facility contains customary conditions precedent for extensions of credit, as well as customary affirmative and negative covenants. SPL pays a commitment fee equal to an annual rate of 0.1% to 0.3% (depending on the then-current rating of SPL), which accrues on the daily amount of the total commitment less the sum of (1) the outstanding principal amount of loans, (2) letters of credit issued and (3) the outstanding principal amount of swing line loans. Restrictive Debt Covenants The indentures governing our senior notes and other agreements underlying our debt contain customary terms and events of default and certain covenants that, among other things, may limit us and our restricted subsidiaries’ ability to make certain investments or pay dividends or distributions. As of March 31, 2021, we and SPL were in compliance with all covenants related to our respective debt agreements. Interest Expense Total interest expense, net of capitalized interest consisted of the following (in millions): Three Months Ended March 31, 2021 2020 Total interest cost $ 247 $ 254 Capitalized interest (30) (20) Total interest expense, net of capitalized interest $ 217 $ 234 Fair Value Disclosures The following table shows the carrying amount and estimated fair value of our debt (in millions): March 31, 2021 December 31, 2020 Carrying Estimated Carrying Estimated Senior notes — Level 2 (1) $ 16,950 $ 18,680 $ 16,950 $ 19,113 Senior notes — Level 3 (2) 800 953 800 1,036 Credit facilities (3) — — — — (1) The Level 2 estimated fair value was based on quotes obtained from broker-dealers or market makers of these senior notes and other similar instruments. (2) The Level 3 estimated fair value was calculated based on inputs that are observable in the market or that could be derived from, or corroborated with, observable market data, including interest rates based on debt issued by parties with comparable credit ratings to us and inputs that are not observable in the market.

Revenues from Contracts with Cu

Revenues from Contracts with Customers3 Months Ended
Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenues from Contracts with CustomersREVENUES FROM CONTRACTS WITH CUSTOMERS The following table represents a disaggregation of revenue earned from contracts with customers during the three months ended March 31, 2021 and 2020 (in millions): Three Months Ended March 31, 2021 2020 LNG revenues (1) $ 1,669 $ 1,449 LNG revenues—affiliate 214 188 Regasification revenues 67 67 Other revenues 13 14 Total revenues $ 1,963 $ 1,718 (1) LNG revenues include revenues for LNG cargoes in which our customers exercised their contractual right to not take delivery but remained obligated to pay fixed fees irrespective of such election. During the three months ended March 31, 2020, we recognized $16 million in LNG revenues associated with LNG cargoes for which customers notified us that they would not take delivery, which would have been recognized subsequent to March 31, 2020 had the cargoes been lifted pursuant to the delivery schedules with the customers. We did not have such revenues during the three months ended March 31, 2021. Revenue is generally recognized upon receipt of irrevocable notice that a customer will not take delivery because our customers have no contractual right to take delivery of such LNG cargo in future periods and our performance obligations with respect to such LNG cargo have been satisfied. Contract Assets The following table shows our contract assets, net, which are classified as other current assets and other non-current assets, net on our Consolidated Balance Sheets (in millions): March 31, December 31, 2021 2020 Contract assets, net $ 1 $ — Contract assets represent our right to consideration for transferring goods or services to the customer under the terms of a sales contract when the associated consideration is not yet due. Changes in contract assets during the three months ended March 31, 2021 were primarily attributable to revenue recognized due to the delivery of LNG under certain SPAs for which the associated consideration was not yet due. Deferred Revenue Reconciliation The following table reflects the changes in our contract liabilities, which we classify as deferred revenue on our Consolidated Balance Sheets (in millions): Three Months Ended March 31, 2021 Deferred revenues, beginning of period $ 137 Cash received but not yet recognized in revenue 101 Revenue recognized from prior period deferral (137) Deferred revenues, end of period $ 101 The following table reflects the changes in our contract liabilities to affiliate, which we classify as deferred revenue—affiliate on our Consolidated Balance Sheets (in millions): Three Months Ended March 31, 2021 Deferred revenues—affiliate, beginning of period $ 1 Cash received but not yet recognized in revenue 5 Revenue recognized from prior period deferral (1) Deferred revenues—affiliate, end of period $ 5 Transaction Price Allocated to Future Performance Obligations Because many of our sales contracts have long-term durations, we are contractually entitled to significant future consideration which we have not yet recognized as revenue. The following table discloses the aggregate amount of the transaction price that is allocated to performance obligations that have not yet been satisfied as of March 31, 2021 and December 31, 2020: March 31, 2021 December 31, 2020 Unsatisfied Weighted Average Recognition Timing (years) (1) Unsatisfied Weighted Average Recognition Timing (years) (1) LNG revenues $ 51.4 9 $ 52.1 9 LNG revenues—affiliate 0.2 3 0.1 1 Regasification revenues 2.1 5 2.1 5 Total revenues $ 53.7 $ 54.3 (1) The weighted average recognition timing represents an estimate of the number of years during which we shall have recognized half of the unsatisfied transaction price. We have elected the following exemptions which omit certain potential future sources of revenue from the table above: (1) We omit from the table above all performance obligations that are part of a contract that has an original expected duration of one year or less. (2) The table above excludes substantially all variable consideration under our SPAs and TUAs. We omit from the table above all variable consideration that is allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service that forms part of a single performance obligation when that performance obligation qualifies as a series. The amount of revenue from variable fees that is not included in the transaction price will vary based on the future prices of Henry Hub throughout the contract terms, to the extent customers elect to take delivery of their LNG, and adjustments to the consumer price index. Certain of our contracts contain additional variable consideration based on the outcome of contingent events and the movement of various indexes. We have not included such variable consideration in the transaction price to the extent the consideration is considered constrained due to the uncertainty of ultimate pricing and receipt. Approximately 51% and 44% of our LNG revenues from contracts included in the table above during the three months ended March 31, 2021 and 2020, respectively, were related to variable consideration received from customers. During each of the three months ended March 31, 2021 and 2020, approximately 3% of our regasification revenues were related to variable consideration received from customers. We may enter into contracts to sell LNG that are conditioned upon one or both of the parties achieving certain milestones such as reaching a final investment decision on a certain liquefaction Train, obtaining financing or achieving substantial completion of a Train and any related facilities. These contracts are considered completed contracts for revenue recognition purposes and are included in the transaction price above when the conditions are considered probable of being met.

Related Party Transactions

Related Party Transactions3 Months Ended
Mar. 31, 2021
Related Party Transactions [Abstract]
Related Party TransactionsRELATED PARTY TRANSACTIONS Below is a summary of our related party transactions as reported on our Consolidated Statements of Income for the three months ended March 31, 2021 and 2020 (in millions): Three Months Ended March 31, 2021 2020 LNG revenues—affiliate Cheniere Marketing Agreements $ 210 $ 182 Contracts for Sale and Purchase of Natural Gas and LNG 4 6 Total LNG revenues—affiliate 214 188 Cost of sales—affiliate Cheniere Marketing Agreements 34 — Contracts for Sale and Purchase of Natural Gas and LNG 8 — Total Cost of sales—affiliate 42 — Operating and maintenance expense—affiliate Services Agreements 34 33 Operating and maintenance expense—related party Natural Gas Transportation and Storage Agreements 10 — General and administrative expense—affiliate Services Agreements 21 25 As of March 31, 2021 and December 31, 2020, we had $98 million and $184 million, respectively, of accounts receivable—affiliate, under the agreements described below. Cheniere Marketing Agreements Cheniere Marketing SPA Cheniere Marketing has an SPA (“Base SPA”) with SPL to purchase, at Cheniere Marketing’s option, any LNG produced by SPL in excess of that required for other customers at a price of 115% of Henry Hub plus $3.00 per MMBtu of LNG. In May 2019, SPL and Cheniere Marketing entered into an amendment to the Base SPA to remove certain conditions related to the sale of LNG from Trains 5 and 6 of the Liquefaction Project and provide that cargoes rejected by Cheniere Marketing under the Base SPA can be sold by SPL to Cheniere Marketing at a contract price equal to a portion of the estimated net profits from the sale of such cargo. Cheniere Marketing Master SPA SPL has an agreement with Cheniere Marketing that allows the parties to sell and purchase LNG with each other by executing and delivering confirmations under this agreement. SPL executed a confirmation with Cheniere Marketing that obligated Cheniere Marketing in certain circumstances to buy LNG cargoes produced during the period while Bechtel Oil, Gas and Chemicals, Inc. (“Bechtel”) had control of, and was commissioning, Train 5 of the Liquefaction Project. Cheniere Marketing Letter Agreements In February 2021, SPL and Cheniere Marketing entered into a letter agreement for the sale of up to 31 cargoes to be delivered between 2021 and 2026 at a price of 115% of Henry Hub plus $1.72 per MMBtu. In December 2020, SPL and Cheniere Marketing entered into a letter agreement for the sale of up to 30 cargoes scheduled for delivery in 2021 at a price of 115% of Henry Hub plus $0.728 per MMBtu. In December 2019, SPL and Cheniere Marketing entered into a letter agreement for the sale of up to 43 cargoes that were delivered in 2020 at a price of 115% of Henry Hub plus $1.67 per MMBtu. Facility Swap Agreement In August 2020, SPL entered into an arrangement with subsidiaries of Cheniere 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 (i) 115% of the applicable natural gas feedstock purchase price or (ii) a free-on-board U.S. Gulf Coast LNG market price, whichever is greater. Natural Gas Transportation and Storage Agreements 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, with initial primary terms of up to 10 years with extension rights. This related party is partially owned by Brookfield, who acquired a portion of our limited partner interests in September 2020 through its purchase of a portion of BX CQP Target Holdco’s equity interests. We recorded operating and maintenance expense—related party of $10 million in the three months ended March 31, 2021 and accrued liabilities—related party of $3 million and $4 million as of March 31, 2021 and December 31, 2020, respectively, with this related party. Services Agreements As of March 31, 2021 and December 31, 2020, we had $127 million and $144 million of advances to affiliates, respectively, under the services agreements described below. The non-reimbursement amounts incurred under these agreements are recorded in general and administrative expense—affiliate. Cheniere Partners Services Agreement We have a services agreement with Cheniere Terminals, a subsidiary of Cheniere, pursuant to which Cheniere Terminals is entitled to a quarterly non-accountable overhead reimbursement charge of $3 million (adjusted for inflation) for the provision of various general and administrative services for our benefit. In addition, Cheniere Terminals is entitled to reimbursement for all audit, tax, legal and finance fees incurred by Cheniere Terminals that are necessary to perform the services under the agreement. Cheniere Investments Information Technology Services Agreement Cheniere Investments has an information technology services agreement with Cheniere, pursuant to which Cheniere Investments’ subsidiaries receive certain information technology services. On a quarterly basis, the various entities receiving the benefit are invoiced by Cheniere Investments according to the cost allocation percentages set forth in the agreement. In addition, Cheniere is entitled to reimbursement for all costs incurred by Cheniere that are necessary to perform the services under the agreement. SPLNG O&M Agreement SPLNG has a long-term operation and maintenance agreement (the “SPLNG O&M Agreement”) with Cheniere Investments pursuant to which SPLNG receives all necessary services required to operate and maintain the Sabine Pass LNG receiving terminal. SPLNG pays a fixed monthly fee of $130,000 (indexed for inflation) under the SPLNG O&M Agreement and the cost of a bonus equal to 50% of the salary component of labor costs in certain circumstances to be agreed upon between SPLNG and Cheniere Investments at the beginning of each operating year. In addition, SPLNG is required to reimburse Cheniere Investments for its operating expenses, which consist primarily of labor expenses. Cheniere Investments provides the services required under the SPLNG O&M Agreement pursuant to a secondment agreement with a wholly owned subsidiary of Cheniere. All payments received by Cheniere Investments under the SPLNG O&M Agreement are required to be remitted to such subsidiary. SPLNG MSA SPLNG has a long-term management services agreement (the “SPLNG MSA”) with Cheniere Terminals, pursuant to which Cheniere Terminals manages the operation of the Sabine Pass LNG receiving terminal, excluding those matters provided for under the SPLNG O&M Agreement. SPLNG pays a monthly fixed fee of $520,000 (indexed for inflation) under the SPLNG MSA. SPL O&M Agreement SPL has an operation and maintenance agreement (the “SPL O&M Agreement”) with Cheniere Investments pursuant to which SPL receives all of the necessary services required to construct, operate and maintain the Liquefaction Project. Before each Train of the Liquefaction Project is operational, the services to be provided include, among other services, obtaining governmental approvals on behalf of SPL, preparing an operating plan for certain periods, obtaining insurance, preparing staffing plans and preparing status reports. After each Train is operational, the services include all necessary services required to operate and maintain the Train. Prior to the substantial completion of each Train of the Liquefaction Project, in addition to reimbursement of operating expenses, SPL is required to pay a monthly fee equal to 0.6% of the capital expenditures incurred in the previous month. After substantial completion of each Train, for services performed while the Train is operational, SPL will pay, in addition to the reimbursement of operating expenses, a fixed monthly fee of $83,333 (indexed for inflation) for services with respect to the Train. Cheniere Investments provides the services required under the SPL O&M Agreement pursuant to a secondment agreement with a wholly owned subsidiary of Cheniere. All payments received by Cheniere Investments under the SPL O&M Agreement are required to be remitted to such subsidiary. SPL MSA SPL has a management services agreement (the “SPL MSA”) with Cheniere Terminals pursuant to which Cheniere Terminals manages the construction and operation of the Liquefaction Project, excluding those matters provided for under the SPL O&M Agreement. The services include, among other services, exercising the day-to-day management of SPL’s affairs and business, managing SPL’s regulatory matters, managing bank and brokerage accounts and financial books and records of SPL’s business and operations, entering into financial derivatives on SPL’s behalf and providing contract administration services for all contracts associated with the Liquefaction Project. Prior to the substantial completion of each Train of the Liquefaction Project, SPL pays a monthly fee equal to 2.4% of the capital expenditures incurred in the previous month. After substantial completion of each Train, SPL will pay a fixed monthly fee of $541,667 (indexed for inflation) for services with respect to such Train. CTPL O&M Agreement CTPL has an amended long-term operation and maintenance agreement (the “CTPL O&M Agreement”) with Cheniere Investments pursuant to which CTPL receives all necessary services required to operate and maintain the Creole Trail Pipeline. CTPL is required to reimburse Cheniere Investments for its operating expenses, which consist primarily of labor expenses. Cheniere Investments provides the services required under the CTPL O&M Agreement pursuant to a secondment agreement with a wholly owned subsidiary of Cheniere. All payments received by Cheniere Investments under the CTPL O&M Agreement are required to be remitted to such subsidiary. CTPL MSA CTPL has a management services agreement (the “CTPL MSA”) with Cheniere Terminals pursuant to which Cheniere Terminals manages the operations and business of the Creole Trail Pipeline, excluding those matters provided for under the CTPL O&M Agreement. The services include, among other services, exercising the day-to-day management of CTPL’s affairs and business, managing CTPL’s regulatory matters, managing bank and brokerage accounts and financial books and records of CTPL’s business and operations, providing contract administration services for all contracts associated with the Creole Trail Pipeline and obtaining insurance. CTPL is required to reimburse Cheniere Terminals for the aggregate of all costs and expenses incurred in the course of performing the services under the CTPL MSA. Natural Gas Supply Agreement SPL is party to a natural gas supply agreement with a related party in the ordinary course of business, to obtain a fixed minimum daily volume of feed gas for the operation of the Liquefaction Project. This related party is partially owned by Blackstone, who also partially owns our limited partner interests. The term of the agreement is for five years, which can commence no earlier than November 1, 2021 and no later than November 1, 2022, following the achievement of contractually-defined conditions precedent. Agreement to Fund SPLNG’s Cooperative Endeavor Agreements SPLNG has executed Cooperative Endeavor Agreements (“CEAs”) with various Cameron Parish, Louisiana taxing authorities that allowed them to collect certain advanced payments of annual ad valorem taxes from SPLNG from 2007 through 2016. This initiative represented an aggregate commitment of $25 million over 10 years in order to aid in their reconstruction efforts following Hurricane Rita. In exchange for SPLNG’s advance payments of annual ad valorem taxes, Cameron Parish shall grant SPLNG a dollar-for-dollar credit against future ad valorem taxes to be levied against the Sabine Pass LNG terminal as early as 2019. Beginning in September 2007, SPLNG entered into various agreements with Cheniere Marketing, pursuant to which Cheniere Marketing would pay SPLNG additional TUA revenues equal to any and all amounts payable by SPLNG to the Cameron Parish taxing authorities under the CEAs. In exchange for such amounts received as TUA revenues from Cheniere Marketing, SPLNG will make payments to Cheniere Marketing equal to the dollar-for-dollar credit applied to the ad valorem tax levied against the Sabine Pass LNG terminal in the given year. On a consolidated basis, these advance tax payments were recorded to other non-current assets, and payments from Cheniere Marketing that SPLNG utilized to make the ad valorem tax payments were recorded as obligations. We had $3 million and $2 million in due to affiliates and $16 million and $17 million of other non-current liabilities—affiliate resulting from these payments received from Cheniere Marketing as of March 31, 2021 and December 31, 2020, respectively. Contracts for Sale and Purchase of Natural Gas and LNG SPLNG is able to sell and purchase natural gas and LNG under agreements with Cheniere Marketing. Under these agreements, SPLNG purchases natural gas or LNG from Cheniere Marketing at a sales price equal to the actual purchase price paid by Cheniere Marketing to suppliers of the natural gas or LNG, plus any third-party costs incurred by Cheniere Marketing with respect to the receipt, purchase and delivery of natural gas or LNG to the Sabine Pass LNG terminal. SPL has an agreement with CCL that allows them to sell and purchase natural gas from each other. Natural gas purchased under this agreement 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. Natural gas sold under this agreement is recorded as LNG revenues—affiliate. Terminal Marine Services Agreement In connection with its tug boat lease, Tug Services entered into an agreement with Cheniere Terminals to provide its LNG cargo vessels with tug boat and marine services at the Sabine Pass LNG terminal. The agreement also provides that Tug Services shall contingently pay Cheniere Terminals a portion of its future revenues. Accordingly, Tug Services distributed $1 million during each of the three months ended March 31, 2021 and 2020 to Cheniere Terminals, which is recognized as part of the distributions to our general partner interest holders on our Consolidated Statements of Partners’ Equity. LNG Terminal Export Agreement SPLNG and Cheniere Marketing have an LNG terminal export agreement that provides Cheniere Marketing the ability to export LNG from the Sabine Pass LNG terminal. SPLNG did not record any revenues associated with this agreement during the three months ended March 31, 2021 and 2020. State Tax Sharing Agreements SPLNG has a state tax sharing agreement with Cheniere. Under this agreement, Cheniere has agreed to prepare and file all state and local tax returns which SPLNG and Cheniere are required to file on a combined basis and to timely pay the combined state and local tax liability. If Cheniere, in its sole discretion, demands payment, SPLNG will pay to Cheniere an amount equal to the state and local tax that SPLNG would be required to pay if its state and local tax liability were calculated on a separate company basis. There have been no state and local taxes paid by Cheniere for which Cheniere could have demanded payment from SPLNG under this agreement; therefore, Cheniere has not demanded any such payments from SPLNG. The agreement is effective for tax returns due on or after January 1, 2008. SPL has a state tax sharing agreement with Cheniere. Under this agreement, Cheniere has agreed to prepare and file all state and local tax returns which SPL and Cheniere are required to file on a combined basis and to timely pay the combined state and local tax liability. If Cheniere, in its sole discretion, demands payment, SPL will pay to Cheniere an amount equal to the state and local tax that SPL would be required to pay if SPL’s state and local tax liability were calculated on a separate company basis. There have been no state and local taxes paid by Cheniere for which Cheniere could have demanded payment from SPL under this agreement; therefore, Cheniere has not demanded any such payments from SPL. The agreement is effective for tax returns due on or after August 2012. CTPL has a state tax sharing agreement with Cheniere. Under this agreement, Cheniere has agreed to prepare and file all state and local tax returns which CTPL and Cheniere are required to file on a combined basis and to timely pay the combined state and local tax liability. If Cheniere, in its sole discretion, demands payment, CTPL will pay to Cheniere an amount equal to the state and local tax that CTPL would be required to pay if CTPL’s state and local tax liability were calculated on a separate company basis. There have been no state and local taxes paid by Cheniere for which Cheniere could have demanded payment from CTPL under this agreement; therefore, Cheniere has not demanded any such payments from CTPL. The agreement is effective for tax returns due on or after May 2013.

Net Income per Common Unit

Net Income per Common Unit3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]
Net Income per Common UnitNET INCOME PER COMMON UNIT Net income per common unit for a given period is based on the distributions that will be made to the unitholders with respect to the period plus an allocation of undistributed net income (loss) based on provisions of the partnership agreement, divided by the weighted average number of common units outstanding. Distributions paid by us are presented on the Consolidated Statements of Partners’ Equity. On April 26, 2021, we declared a $0.660 distribution per common unit and the related distribution to our general partner and IDR holders that will be paid on May 14, 2021 to unitholders of record as of May 6, 2021 for the period from January 1, 2021 to March 31, 2021. The two-class method dictates that net income for a period be reduced by the amount of available cash that will be distributed with respect to that period and that any residual amount representing undistributed net income to be allocated to common unitholders and other participating unitholders to the extent that each unit may share in net income as if all of the net income for the period had been distributed in accordance with the partnership agreement. Undistributed income is allocated to participating securities based on the distribution waterfall for available cash specified in the partnership agreement. Undistributed losses (including those resulting from distributions in excess of net income) are allocated to common units and other participating securities on a pro rata basis based on provisions of the partnership agreement. Distributions are treated as distributed earnings in the computation of earnings per common unit even though cash distributions are not necessarily derived from current or prior period earnings. The following table provides a reconciliation of net income and the allocation of net income to the common units, the subordinated units, the general partner units and IDRs for purposes of computing basic and diluted net income per unit (in millions, except per unit data). Limited Partner Units Total Common Units Subordinated Units General Partner Units IDR Three Months Ended March 31, 2021 Net income $ 347 Declared distributions 356 320 — 7 29 Assumed allocation of undistributed net loss (1) $ (9) (8) — — — Assumed allocation of net income $ 312 $ — $ 7 $ 29 Weighted average units outstanding 484.0 — Basic and diluted net income per unit $ 0.64 $ — Three Months Ended March 31, 2020 Net income $ 435 Declared distributions 336 223 87 6 20 Assumed allocation of undistributed net income (1) $ 99 70 27 2 — Assumed allocation of net income $ 293 $ 114 $ 8 $ 20 Weighted average units outstanding 348.6 135.4 Basic and diluted net income per unit $ 0.84 $ 0.84 (1) Under our partnership agreement, the IDRs participate in net income only to the extent of the amount of cash distributions actually declared, thereby excluding the IDRs from participating in undistributed net income or loss.

Customer Concentration

Customer Concentration3 Months Ended
Mar. 31, 2021
Risks and Uncertainties [Abstract]
Customer ConcentrationCUSTOMER CONCENTRATION The following table shows external customers with revenues of 10% or greater of total revenues from external customers and external customers with accounts receivable, net and contract assets, net balances of 10% or greater of total accounts receivable, net and contract assets, net from external customers: Percentage of Total Revenues from External Customers Percentage of Accounts Receivable, Net from External Customers Three Months Ended March 31, March 31, December 31, 2021 2020 2021 2020 Customer A 27% 28% 23% 31% Customer B 15% 15% 15% 21% Customer C 18% 15% 25% * Customer D 14% 16% * 22% Customer E * * 19% * Customer F * 11% * * * Less than 10%

Supplemental Cash Flow Informat

Supplemental Cash Flow Information3 Months Ended
Mar. 31, 2021
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow InformationSUPPLEMENTAL CASH FLOW INFORMATION The following table provides supplemental disclosure of cash flow information (in millions): Three Months Ended March 31, 2021 2020 Cash paid during the period for interest on debt, net of amounts capitalized $ 185 $ 211 The balance in property, plant and equipment, net funded with accounts payable and accrued liabilities (including affiliate) was $229 million and $219 million as of March 31, 2021 and 2020, respectively.

Nature of Operations and Basi_2

Nature of Operations and Basis of Presentation (Policies)3 Months Ended
Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation, PolicyBasis of Presentation The accompanying unaudited Consolidated Financial Statements of Cheniere Partners have been prepared in accordance with GAAP for interim financial information and with Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the Consolidated Financial Statements and accompanying notes included in our annual report on Form 10-K for the fiscal year ended D e ce mber 31, 2020 .
Income Taxes, PolicyWe are not subject to either federal or state income tax, as our partners are taxed individually on their allocable share of our taxable income.
Recent Accounting StandardsRecent Accounting Standards In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . This guidance primarily provides temporary optional expedients which simplify the accounting for contract modifications to existing debt agreements expected to arise from the market transition from LIBOR to alternative reference rates. The optional expedients were available to be used upon issuance of this guidance but we have not yet applied the guidance because we have not yet modified any of our existing contracts for reference rate reform. Once we apply an optional expedient to a modified contract and adopt this standard, the guidance will be applied to all subsequent applicable contract modifications until December 31, 2022, at which time the optional expedients are no longer available.

Accounts and Other Receivables

Accounts and Other Receivables (Tables)3 Months Ended
Mar. 31, 2021
Receivables [Abstract]
Schedule of Accounts and Other ReceivablesAs of March 31, 2021 and December 31, 2020, accounts and other receivables, net consisted of the following (in millions): March 31, December 31, 2021 2020 SPL trade receivable $ 349 $ 300 Other accounts receivable 24 18 Total accounts and other receivables, net $ 373 $ 318

Inventory (Tables)

Inventory (Tables)3 Months Ended
Mar. 31, 2021
Inventory Disclosure [Abstract]
Schedule of InventoryAs of March 31, 2021 and December 31, 2020, inventory consisted of the following (in millions): March 31, December 31, 2021 2020 Materials $ 82 $ 81 LNG 11 8 Natural gas 9 17 Other 1 1 Total inventory $ 103 $ 107

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)3 Months Ended
Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Property, Plant and EquipmentAs of March 31, 2021 and December 31, 2020, property, plant and equipment, net consisted of the following (in millions): March 31, December 31, 2021 2020 LNG terminal costs LNG terminal and interconnecting pipeline facilities $ 16,909 $ 16,908 LNG terminal construction-in-process 2,300 2,154 Accumulated depreciation (2,481) (2,344) Total LNG terminal costs, net 16,728 16,718 Fixed assets Fixed assets 30 29 Accumulated depreciation (24) (24) Total fixed assets, net 6 5 Property, plant and equipment, net $ 16,734 $ 16,723
Schedule of Depreciation and Offsets to LNG Terminal CostsThe following table shows depreciation expense during the three months ended March 31, 2021 and 2020 (in millions): Three Months Ended March 31, 2021 2020 Depreciation expense $ 138 $ 137

Derivative Instruments (Tables)

Derivative Instruments (Tables)3 Months Ended
Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Derivative Assets and LiabilitiesThe following table shows the fair value of our derivative instruments that are required to be measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020, which are classified as derivative assets, non-current derivative assets, derivative liabilities or non-current derivative liabilities in our Consolidated Balance Sheets (in millions). Fair Value Measurements as of March 31, 2021 December 31, 2020 Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Total Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Total Liquefaction Supply Derivatives asset (liability) $ (4) $ (3) $ (36) $ (43) $ 1 $ (1) $ (21) $ (21)
Fair Value Measurement Inputs and Valuation TechniquesThe following table includes quantitative information for the unobservable inputs for our Level 3 Physical Liquefaction Supply Derivatives as of March 31, 2021: Net Fair Value Liability Valuation Approach Significant Unobservable Input Range of Significant Unobservable Inputs / Weighted Average (1) Physical Liquefaction Supply Derivatives $(36) Market approach incorporating present value techniques Henry Hub basis spread $(0.350) - $0.168 / $(0.001) (1) Unobservable inputs were weighted by the relative fair value of the instruments.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input ReconciliationThe following table shows the changes in the fair value of our Level 3 Physical Liquefaction Supply Derivatives during the three months ended March 31, 2021 and 2020 (in millions): Three Months Ended March 31, 2021 2020 Balance, beginning of period $ (21) $ 24 Realized and mark-to-market gains (losses): Included in cost of sales (12) 25 Purchases and settlements: Purchases 1 1 Settlements (4) (3) Transfers into Level 3, net (1) — 2 Balance, end of period $ (36) $ 49 Change in unrealized gains (losses) relating to instruments still held at end of period $ (12) $ 25 (1) Transferred into Level 3 as a result of unobservable market, or out of Level 3 as a result of observable market for the underlying natural gas purchase agreements.
Fair Value of Derivative Instruments by Balance Sheet LocationThe following table shows the fair value and location of our Liquefaction Supply Derivatives on our Consolidated Balance Sheets (in millions): Fair Value Measurements as of (1) Consolidated Balance Sheets Location March 31, 2021 December 31, 2020 Derivative assets $ 16 $ 14 Non-current derivative assets 9 11 Total derivative assets 25 25 Derivative liabilities (26) (11) Non-current derivative liabilities (42) (35) Total derivative liabilities (68) (46) Derivative liability, net $ (43) $ (21) (1) Does not include collateral posted with counterparties by us of $11 million and $4 million, which are included in other current assets in our Consolidated Balance Sheets as of March 31, 2021 and December 31, 2020, respectively. Includes a natural gas supply contract that SPL has with a related party, which had a fair value of zero as of both March 31, 2021 and December 31, 2020.
Derivative Instruments, Gain (Loss)The following table shows the gain (loss) from changes in the fair value, settlements and location of our Liquefaction Supply Derivatives recorded on our Consolidated Statements of Income during the three months ended March 31, 2021 and 2020 (in millions): Consolidated Statements of Income Location (1) Three Months Ended March 31, 2021 2020 Liquefaction Supply Derivatives Cost of sales $ (2) $ 21 (1) Does not include the realized value associated with derivative instruments that settle through physical delivery. Fair value fluctuations associated with commodity derivative activities are classified and presented consistently with the item economically hedged and the nature and intent of the derivative instrument.
Derivative Net Presentation on Consolidated Balance SheetsThe following table shows the fair value of our derivatives outstanding on a gross and net basis (in millions): Liquefaction Supply Derivatives As of March 31, 2021 Gross assets $ 68 Offsetting amounts (43) Net assets $ 25 Gross liabilities $ (76) Offsetting amounts 8 Net liabilities $ (68) As of December 31, 2020 Gross assets $ 69 Offsetting amounts (44) Net assets $ 25 Gross liabilities $ (48) Offsetting amounts 2 Net liabilities $ (46)

Other Non-Current Assets (Table

Other Non-Current Assets (Tables)3 Months Ended
Mar. 31, 2021
Other Assets, Noncurrent [Abstract]
Schedule of Other Non-Current AssetsAs of March 31, 2021 and December 31, 2020, other non-current assets, net consisted of the following (in millions): March 31, December 31, 2021 2020 Advances made to municipalities for water system enhancements $ 83 $ 84 Advances and other asset conveyances to third parties to support LNG terminal 33 33 Advances made under EPC and non-EPC contracts 22 9 Tax-related prepayments and receivables 17 17 Information technology service prepayments 5 6 Other 17 11 Total other non-current assets, net $ 177 $ 160

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)3 Months Ended
Mar. 31, 2021
Accrued Liabilities, Current [Abstract]
Schedule of Accrued LiabilitiesAs of March 31, 2021 and December 31, 2020, accrued liabilities consisted of the following (in millions): March 31, December 31, 2021 2020 Interest costs and related debt fees $ 226 $ 203 Accrued natural gas purchases 382 374 LNG terminal and related pipeline costs 80 71 Other accrued liabilities 16 10 Total accrued liabilities $ 704 $ 658

Debt (Tables)

Debt (Tables)3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]
Schedule of Debt InstrumentsAs of March 31, 2021 and December 31, 2020, our debt consisted of the following (in millions): March 31, December 31, 2021 2020 Long-term debt: SPL — 4.200% to 6.25% senior secured notes due between March 2022 and September 2037 and working capital facility (“2020 SPL Working Capital Facility”) $ 12,797 $ 13,650 Cheniere Partners — 4.000% to 5.625% senior notes due between October 2025 and March 2031 and credit facilities (“2019 CQP Credit Facilities”) 4,100 4,100 Unamortized premium, discount and debt issuance costs, net (165) (170) Total long-term debt, net 16,732 17,580 Current debt: SPL — current portion of 6.25% senior secured notes due March 2022 (“2022 SPL Senior Notes”) (1) 853 — Unamortized premium, discount and debt issuance costs, net (3) — Total current debt 850 — Total debt, net $ 17,582 $ 17,580 (1) $147 million of the 2022 SPL Senior Notes is categorized as long-term debt because the proceeds from the expected sale of approximately $147 million aggregate principal amount of 2.95% Senior Secured Notes due 2037, expected to be issued in the second half of 2021 pursuant to a note purchase agreement entered into by SPL in February 2021, are expected to be used to refinance a portion of 2022 SPL Senior Notes.
Schedule of Debt Issuances And RedemptionsThe following table shows the issuances and redemptions of long-term debt during the three months ended March 31, 2021 (in millions): Issuances Principal Amount Issued CQP — 4.000% Senior Notes due 2031 (the “2031 CQP Senior Notes”) (1) $ 1,500 Redemptions Amount Redeemed CQP — 5.250% Senior Notes due 2025 (the “2025 CQP Senior Notes”) (1) $ 1,500 (1) Proceeds of the 2031 CQP Senior Notes, together with cash on hand, were used to redeem all of our outstanding 2025 CQP Senior Notes, resulting in the recognition of debt extinguishment costs of $54 million for the three months ended March 31, 2021 relating to the payment of early redemption fees and write off of unamortized debt premium and issuance costs.
Schedule of Line of Credit FacilitiesBelow is a summary of our credit facilities outstanding as of March 31, 2021 (in millions): 2020 SPL Working Capital Facility (1) 2019 CQP Credit Facilities Original facility size $ 1,200 $ 1,500 Less: Outstanding balance — — Commitments prepaid or terminated — 750 Letters of credit issued 413 — Available commitment $ 787 $ 750 Priority ranking Senior secured Senior secured Interest rate on available balance LIBOR plus 1.125% - 1.750% or base rate plus 0.125% - 0.750% LIBOR plus 1.25% - 2.125% or base rate plus 0.25% - 1.125% Weighted average interest rate of outstanding balance n/a n/a Maturity date March 19, 2025 May 29, 2024 (1) The 2020 SPL Working Capital Facility contains customary conditions precedent for extensions of credit, as well as customary affirmative and negative covenants. SPL pays a commitment fee equal to an annual rate of 0.1% to 0.3% (depending on the then-current rating of SPL), which accrues on the daily amount of the total commitment less the sum of (1) the outstanding principal amount of loans, (2) letters of credit issued and (3) the outstanding principal amount of swing line loans.
Schedule of Interest ExpenseTotal interest expense, net of capitalized interest consisted of the following (in millions): Three Months Ended March 31, 2021 2020 Total interest cost $ 247 $ 254 Capitalized interest (30) (20) Total interest expense, net of capitalized interest $ 217 $ 234
Schedule of Carrying Values and Estimated Fair Values of Debt InstrumentsThe following table shows the carrying amount and estimated fair value of our debt (in millions): March 31, 2021 December 31, 2020 Carrying Estimated Carrying Estimated Senior notes — Level 2 (1) $ 16,950 $ 18,680 $ 16,950 $ 19,113 Senior notes — Level 3 (2) 800 953 800 1,036 Credit facilities (3) — — — — (1) The Level 2 estimated fair value was based on quotes obtained from broker-dealers or market makers of these senior notes and other similar instruments. (2) The Level 3 estimated fair value was calculated based on inputs that are observable in the market or that could be derived from, or corroborated with, observable market data, including interest rates based on debt issued by parties with comparable credit ratings to us and inputs that are not observable in the market.

Revenues from Contracts with _2

Revenues from Contracts with Customers (Tables)3 Months Ended
Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of RevenueThe following table represents a disaggregation of revenue earned from contracts with customers during the three months ended March 31, 2021 and 2020 (in millions): Three Months Ended March 31, 2021 2020 LNG revenues (1) $ 1,669 $ 1,449 LNG revenues—affiliate 214 188 Regasification revenues 67 67 Other revenues 13 14 Total revenues $ 1,963 $ 1,718
Contract with Customer, AssetThe following table shows our contract assets, net, which are classified as other current assets and other non-current assets, net on our Consolidated Balance Sheets (in millions): March 31, December 31, 2021 2020 Contract assets, net $ 1 $ —
Contract Balances ReconciliationThe following table reflects the changes in our contract liabilities, which we classify as deferred revenue on our Consolidated Balance Sheets (in millions): Three Months Ended March 31, 2021 Deferred revenues, beginning of period $ 137 Cash received but not yet recognized in revenue 101 Revenue recognized from prior period deferral (137) Deferred revenues, end of period $ 101 The following table reflects the changes in our contract liabilities to affiliate, which we classify as deferred revenue—affiliate on our Consolidated Balance Sheets (in millions): Three Months Ended March 31, 2021 Deferred revenues—affiliate, beginning of period $ 1 Cash received but not yet recognized in revenue 5 Revenue recognized from prior period deferral (1) Deferred revenues—affiliate, end of period $ 5
Transaction Price Allocated to Future Performance ObligationsThe following table discloses the aggregate amount of the transaction price that is allocated to performance obligations that have not yet been satisfied as of March 31, 2021 and December 31, 2020: March 31, 2021 December 31, 2020 Unsatisfied Weighted Average Recognition Timing (years) (1) Unsatisfied Weighted Average Recognition Timing (years) (1) LNG revenues $ 51.4 9 $ 52.1 9 LNG revenues—affiliate 0.2 3 0.1 1 Regasification revenues 2.1 5 2.1 5 Total revenues $ 53.7 $ 54.3 (1) The weighted average recognition timing represents an estimate of the number of years during which we shall have recognized half of the unsatisfied transaction price.

Related Party Transactions (Tab

Related Party Transactions (Tables)3 Months Ended
Mar. 31, 2021
Related Party Transactions [Abstract]
Schedule of Related Party TransactionsBelow is a summary of our related party transactions as reported on our Consolidated Statements of Income for the three months ended March 31, 2021 and 2020 (in millions): Three Months Ended March 31, 2021 2020 LNG revenues—affiliate Cheniere Marketing Agreements $ 210 $ 182 Contracts for Sale and Purchase of Natural Gas and LNG 4 6 Total LNG revenues—affiliate 214 188 Cost of sales—affiliate Cheniere Marketing Agreements 34 — Contracts for Sale and Purchase of Natural Gas and LNG 8 — Total Cost of sales—affiliate 42 — Operating and maintenance expense—affiliate Services Agreements 34 33 Operating and maintenance expense—related party Natural Gas Transportation and Storage Agreements 10 — General and administrative expense—affiliate Services Agreements 21 25

Net Income per Common Unit (Tab

Net Income per Common Unit (Tables)3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of Net Income per Common UnitThe following table provides a reconciliation of net income and the allocation of net income to the common units, the subordinated units, the general partner units and IDRs for purposes of computing basic and diluted net income per unit (in millions, except per unit data). Limited Partner Units Total Common Units Subordinated Units General Partner Units IDR Three Months Ended March 31, 2021 Net income $ 347 Declared distributions 356 320 — 7 29 Assumed allocation of undistributed net loss (1) $ (9) (8) — — — Assumed allocation of net income $ 312 $ — $ 7 $ 29 Weighted average units outstanding 484.0 — Basic and diluted net income per unit $ 0.64 $ — Three Months Ended March 31, 2020 Net income $ 435 Declared distributions 336 223 87 6 20 Assumed allocation of undistributed net income (1) $ 99 70 27 2 — Assumed allocation of net income $ 293 $ 114 $ 8 $ 20 Weighted average units outstanding 348.6 135.4 Basic and diluted net income per unit $ 0.84 $ 0.84 (1) Under our partnership agreement, the IDRs participate in net income only to the extent of the amount of cash distributions actually declared, thereby excluding the IDRs from participating in undistributed net income or loss.

Customer Concentration (Tables)

Customer Concentration (Tables)3 Months Ended
Mar. 31, 2021
Risks and Uncertainties [Abstract]
Schedule of Revenue and Accounts Receivable by Major CustomersThe following table shows external customers with revenues of 10% or greater of total revenues from external customers and external customers with accounts receivable, net and contract assets, net balances of 10% or greater of total accounts receivable, net and contract assets, net from external customers: Percentage of Total Revenues from External Customers Percentage of Accounts Receivable, Net from External Customers Three Months Ended March 31, March 31, December 31, 2021 2020 2021 2020 Customer A 27% 28% 23% 31% Customer B 15% 15% 15% 21% Customer C 18% 15% 25% * Customer D 14% 16% * 22% Customer E * * 19% * Customer F * 11% * * * Less than 10%

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)3 Months Ended
Mar. 31, 2021
Supplemental Cash Flow Information [Abstract]
Schedule of Cash Flow, Supplemental DisclosuresThe following table provides supplemental disclosure of cash flow information (in millions): Three Months Ended March 31, 2021 2020 Cash paid during the period for interest on debt, net of amounts capitalized $ 185 $ 211

Nature of Operations and Basi_3

Nature of Operations and Basis of Presentation (Details)3 Months Ended
Mar. 31, 2021itemmilliontonnes / yrunitmitrains
Sabine Pass LNG Terminal [Member]
Nature of Operations and Basis of Presentation [Line Items]
Number of Liquefaction LNG Trains Operating | trains5
Number of Liquefaction LNG Trains Constructing | trains1
Total Production Capability | milliontonnes / yr30
Number Of LNG Storage Tanks | unit5
Number of Marine Berths Operating | item2
Number of Marine Berths Constructing | item1
Creole Trail Pipeline [Member]
Nature of Operations and Basis of Presentation [Line Items]
Length of Natural Gas Pipeline | mi94

Unitholders' Equity (Details)

Unitholders' Equity (Details)3 Months Ended12 Months Ended
Mar. 31, 2021Dec. 31, 2020
Maximum [Member]
Other Ownership Interests [Line Items]
Number of days after quarter end distribution is paid45 days
General Partner [Member] | Minimum [Member]
Other Ownership Interests [Line Items]
Distributions entitled by General Partner, Percentage2.00%
Incentive Distribution, Quarterly Distribution Additional Target Percentage15.00%
General Partner [Member] | Maximum [Member]
Other Ownership Interests [Line Items]
Incentive Distribution, Quarterly Distribution Additional Target Percentage50.00%
Cheniere Partners [Member]
Other Ownership Interests [Line Items]
General Partner Ownership Interest Percentage2.00%2.00%
Cheniere [Member] | Cheniere Partners [Member]
Other Ownership Interests [Line Items]
Limited Partner Ownership Percentage48.60%
General Partner Ownership Interest Percentage100.00%
BX CQP Target Holdco LLC and Other Blackstone and Brookfield Affiliates [Member] | Cheniere Partners [Member]
Other Ownership Interests [Line Items]
Limited Partner Ownership Percentage41.40%
Public [Member] | Cheniere Partners [Member]
Other Ownership Interests [Line Items]
Limited Partner Ownership Percentage8.00%
BIP Chinook Holdco LLC [Member] | BX CQP Target Holdco LLC [Member]
Other Ownership Interests [Line Items]
Limited Partner Ownership Percentage50.01%
BIF IV Cypress Aggregator (Delaware) LLC [Member] | BX CQP Target Holdco LLC [Member]
Other Ownership Interests [Line Items]
Limited Partner Ownership Percentage49.99%

Restricted Cash (Details)

Restricted Cash (Details) - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
Restricted Cash and Cash Equivalents Items [Line Items]
Current restricted cash $ 123 $ 97
SPL Project [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Current restricted cash $ 123 $ 97

Accounts and Other Receivable_2

Accounts and Other Receivables (Details) - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
Receivables [Abstract]
SPL trade receivable $ 349 $ 300
Other accounts receivable24 18
Total accounts and other receivables, net $ 373 $ 318

Inventory (Details)

Inventory (Details) - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
Inventory [Line Items]
Inventory $ 103 $ 107
Materials [Member]
Inventory [Line Items]
Inventory82 81
LNG [Member]
Inventory [Line Items]
Inventory11 8
Natural gas [Member]
Inventory [Line Items]
Inventory9 17
Other [Member]
Inventory [Line Items]
Inventory $ 1 $ 1

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net $ 16,734 $ 16,723
LNG terminal costs [Member]
Property, Plant and Equipment [Line Items]
Accumulated depreciation(2,481)(2,344)
Property, plant and equipment, net16,728 16,718
LNG terminal and interconnecting pipeline facilities [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross16,909 16,908
LNG terminal construction-in-process [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross2,300 2,154
Fixed assets [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross30 29
Accumulated depreciation(24)(24)
Property, plant and equipment, net $ 6 $ 5

Property, Plant and Equipment_2

Property, Plant and Equipment - Schedule of Depreciation and Offsets to LNG Terminal Costs (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation $ 138 $ 137

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - tbtu3 Months Ended
Mar. 31, 2021Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Nonmonetary Notional Amount5,023 4,970
Physical Liquefaction Supply Derivatives [Member] | Maximum [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Term of Contract10 years
Financial Liquefaction Supply Derivatives | Maximum [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Term of Contract3 years
SPL [Member] | Natural Gas Supply Agreement [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Nonmonetary Notional Amount91 91

Derivative Instruments - Fair V

Derivative Instruments - Fair Value of Derivative Assets and Liabilities (Details) - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net $ (43) $ (21)
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net(4)1
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net(3)(1)
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net $ (36) $ (21)

Derivative Instruments - Fair_2

Derivative Instruments - Fair Value Inputs - Quantitative Information (Details) - USD ($)3 Months Ended
Mar. 31, 2021Dec. 31, 2020
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Net Fair Value Liability $ (43,000,000) $ (21,000,000)
Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Net Fair Value Liability(36,000,000) $ (21,000,000)
Physical Liquefaction Supply Derivatives [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Net Fair Value Liability(36,000,000)
Physical Liquefaction Supply Derivatives [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Significant Unobservable Input Range[1](0.350)
Physical Liquefaction Supply Derivatives [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Significant Unobservable Input Range[1]0.168
Physical Liquefaction Supply Derivatives [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Significant Unobservable Input Range[1] $ (0.001)
[1]Unobservable inputs were weighted by the relative fair value of the instruments.

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Level 3 Activity (Details) - Physical Liquefaction Supply Derivatives [Member] - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period $ (21) $ 24
Realized and mark-to-market gains (losses):
Included in cost of sales(12)25
Purchases and settlements:
Purchases1 1
Settlements(4)(3)
Transfers into Level 3, net[1]0 2
Balance, end of period(36)49
Change in unrealized gains (losses) relating to instruments still held at end of period $ (12) $ 25
[1]Transferred into Level 3 as a result of unobservable market, or out of Level 3 as a result of observable market for the underlying natural gas purchase agreements.

Derivative Instruments - Fair_3

Derivative Instruments - Fair Value of Derivative Instruments by Balance Sheet Location (Details) - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Derivative assets $ 16 $ 14
Non-current derivative assets9 11
Total derivative assets[1]25 25
Derivative liabilities(26)(11)
Non-current derivative liabilities(42)(35)
Total derivative liabilities[1](68)(46)
Derivative liability, net[1](43)(21)
Derivative, collateral posted by us11 4
Natural Gas Supply Agreement [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, net0 0
Derivative assets [Member]
Derivatives, Fair Value [Line Items]
Derivative assets[1]16 14
Non-current derivative assets [Member]
Derivatives, Fair Value [Line Items]
Non-current derivative assets[1]9 11
Derivative liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities[1](26)(11)
Non-current derivative liabilities [Member]
Derivatives, Fair Value [Line Items]
Non-current derivative liabilities[1] $ (42) $ (35)
[1]Does not include collateral posted with counterparties by us of $11 million and $4 million, which are included in other current assets in our Consolidated Balance Sheets as of March 31, 2021 and December 31, 2020, respectively. Includes a natural gas supply contract that SPL has with a related party, which had a fair value of zero as of both March 31, 2021 and December 31, 2020.

Derivative Instruments - Deriva

Derivative Instruments - Derivative Instruments, Gain (Loss) (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Cost of sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gain (loss), net[1] $ (2) $ 21
[1]Does not include the realized value associated with derivative instruments that settle through physical delivery. Fair value fluctuations associated with commodity derivative activities are classified and presented consistently with the item economically hedged and the nature and intent of the derivative instrument.

Derivative Instruments - Balanc

Derivative Instruments - Balance Sheet Presentation Table (Details) - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
Derivative [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net $ (43) $ (21)
Liquefaction Supply Derivative Asset [Member]
Derivative [Line Items]
Derivative Asset, Gross Amounts Recognized68 69
Derivative Asset, Gross Amounts Offset in the Consolidated Balance Sheet(43)(44)
Derivative Assets (Liabilities), at Fair Value, Net25 25
Liquefaction Supply Derivative Liability [Member]
Derivative [Line Items]
Derivative Liability, Gross Amounts Recognized(76)(48)
Derivative Liability, Gross Amounts Offset in the Consolidated Balance Sheet8 2
Derivative Assets (Liabilities), at Fair Value, Net $ (68) $ (46)

Other Non-Current Assets (Detai

Other Non-Current Assets (Details) - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
Other Assets, Noncurrent [Abstract]
Advances made to municipalities for water system enhancements $ 83 $ 84
Advances and other asset conveyances to third parties to support LNG terminal33 33
Advances made under EPC and non-EPC contracts22 9
Tax-related prepayments and receivables17 17
Information technology service prepayments5 6
Other17 11
Other non-current assets, net $ 177 $ 160

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
Accrued Liabilities, Current [Abstract]
Interest costs and related debt fees $ 226 $ 203
Accrued natural gas purchases382 374
LNG terminal and related pipeline costs80 71
Other accrued liabilities16 10
Total accrued liabilities $ 704 $ 658

Debt - Schedule of Debt Instrum

Debt - Schedule of Debt Instruments (Details) - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
Debt Instrument [Line Items]
Long-term Debt, Net $ 16,732 $ 17,580
Current debt850 0
Total Debt, Net17,582 17,580
Long-term Debt [Member]
Debt Instrument [Line Items]
Unamortized premium, discount and debt issuance costs, net(165)(170)
Current Debt
Debt Instrument [Line Items]
Unamortized premium, discount and debt issuance costs, net(3)0
2022 SPL Senior Notes [Member]
Debt Instrument [Line Items]
Long Term Portion of Current Senior Notes147
2.95% 2037 SPL Senior Secured Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount147
SPL [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross12,797 13,650
Current portion of senior secured notes[1] $ 853 0
SPL [Member] | Senior Notes [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage4.20%
SPL [Member] | Senior Notes [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage6.25%
SPL [Member] | 2022 SPL Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage6.25%
SPL [Member] | 2.95% 2037 SPL Senior Secured Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage2.95%
Cheniere Partners [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross $ 4,100 $ 4,100
Cheniere Partners [Member] | Senior Notes [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage4.00%
Cheniere Partners [Member] | Senior Notes [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage5.625%
[1]$147 million of the 2022 SPL Senior Notes is categorized as long-term debt because the proceeds from the expected sale of approximately $147 million aggregate principal amount of 2.95% Senior Secured Notes due 2037, expected to be issued in the second half of 2021 pursuant to a note purchase agreement entered into by SPL in February 2021, are expected to be used to refinance a portion of 2022 SPL Senior Notes.

Debt - Schedule of Issuances an

Debt - Schedule of Issuances and Redemptions (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Debt Instrument [Line Items]
Loss on modification or extinguishment of debt $ (54) $ (1)
Cheniere Partners [Member] | 2031 CQP Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage4.00%
Debt Instrument, Face Amount[1] $ 1,500
Cheniere Partners [Member] | 2025 CQP Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage5.25%
Repayments of Long-term Debt[1] $ 1,500
[1]Proceeds of the 2031 CQP Senior Notes, together with cash on hand, were used to redeem all of our outstanding 2025 CQP Senior Notes, resulting in the recognition of debt extinguishment costs of $54 million for the three months ended March 31, 2021 relating to the payment of early redemption fees and write off of unamortized debt premium and issuance costs.

Debt - Credit Facilities Table

Debt - Credit Facilities Table (Details) $ in Millions3 Months Ended
Mar. 31, 2021USD ($)Rate
2020 SPL Working Capital Facility [Member]
Line of Credit Facility [Line Items]
Original facility size $ 1,200 [1]
Outstanding balance0 [1]
Commitments prepaid or terminated0 [1]
Letters of credit issued413 [1]
Available commitment $ 787 [1]
Debt Instrument, Description of Variable Rate BasisLIBOR or base rate
Debt Instrument, Maturity DateMar. 19,
2025
[1]
2020 SPL Working Capital Facility [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Commitment Fee Percentage0.10%
2020 SPL Working Capital Facility [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Commitment Fee Percentage0.30%
2020 SPL Working Capital Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate | Rate1.125%
2020 SPL Working Capital Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate | Rate1.75%
2020 SPL Working Capital Facility [Member] | Base Rate [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate | Rate0.125%
2020 SPL Working Capital Facility [Member] | Base Rate [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate | Rate0.75%
2019 CQP Credit Facilities [Member]
Line of Credit Facility [Line Items]
Original facility size $ 1,500
Outstanding balance0
Commitments prepaid or terminated750
Letters of credit issued0
Available commitment $ 750
Debt Instrument, Description of Variable Rate BasisLIBOR or base rate
Debt Instrument, Maturity DateMay 29,
2024
2019 CQP Credit Facilities [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate | Rate1.25%
2019 CQP Credit Facilities [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate | Rate2.125%
2019 CQP Credit Facilities [Member] | Base Rate [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate | Rate0.25%
2019 CQP Credit Facilities [Member] | Base Rate [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate | Rate1.125%
[1]The 2020 SPL Working Capital Facility contains customary conditions precedent for extensions of credit, as well as customary affirmative and negative covenants. SPL pays a commitment fee equal to an annual rate of 0.1% to 0.3% (depending on the then-current rating of SPL), which accrues on the daily amount of the total commitment less the sum of (1) the outstanding principal amount of loans, (2) letters of credit issued and (3) the outstanding principal amount of swing line loans.

Debt - Interest Expense (Detail

Debt - Interest Expense (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Debt Disclosure [Abstract]
Total interest cost $ 247 $ 254
Capitalized interest(30)(20)
Total interest expense, net of capitalized interest $ 217 $ 234

Debt - Schedule of Carrying Val

Debt - Schedule of Carrying Values and Estimated Fair Values of Debt Instruments (Details) - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount, Debt $ 17,582 $ 17,580
Senior Notes [Member] | Carrying Amount [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount, Debt[1]16,950 16,950
Senior Notes [Member] | Carrying Amount [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount, Debt[2]800 800
Senior Notes [Member] | Estimated Fair Value [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes, Estimated Fair Value[1]18,680 19,113
Senior Notes [Member] | Estimated Fair Value [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes, Estimated Fair Value[2]953 1,036
Credit facilities [Member] | Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount, Debt[3]0 0
Credit facilities [Member] | Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Lines of Credit, Fair Value Disclosure[3] $ 0 $ 0
[1]The Level 2 estimated fair value was based on quotes obtained from broker-dealers or market makers of these senior notes and other similar instruments.
[2]The Level 3 estimated fair value was calculated based on inputs that are observable in the market or that could be derived from, or corroborated with, observable market data, including interest rates based on debt issued by parties with comparable credit ratings to us and inputs that are not observable in the market.
[3]The Level 3 estimated fair value approximates the principal amount because the interest rates are variable and reflective of market rates and the debt may be repaid, in full or in part, at any time without penalty

Revenues from Contracts with _3

Revenues from Contracts with Customers - Narrative (Details)3 Months Ended
Mar. 31, 2021Mar. 31, 2020
LNG [Member]
Disaggregation of Revenue [Line Items]
Revenue, Variable Consideration Received From Customers, Percentage51.00%44.00%
Regasification [Member]
Disaggregation of Revenue [Line Items]
Revenue, Variable Consideration Received From Customers, Percentage3.00%3.00%

Revenues from Contracts with _4

Revenues from Contracts with Customers - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Total revenues $ 1,963 $ 1,718
LNG [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers[1]1,669 1,449
Total revenues1,669 1,449
Suspension Fees and LNG Cover Damages Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers0 16
LNG—affiliate [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers214 188
Regasification [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers67 67
Other [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers $ 13 $ 14
[1]LNG revenues include revenues for LNG cargoes in which our customers exercised their contractual right to not take delivery but remained obligated to pay fixed fees irrespective of such election. During the three months ended March 31, 2020, we recognized $16 million in LNG revenues associated with LNG cargoes for which customers notified us that they would not take delivery, which would have been recognized subsequent to March 31, 2020 had the cargoes been lifted pursuant to the delivery schedules with the customers. We did not have such revenues during the three months ended March 31, 2021. Revenue is generally recognized upon receipt of irrevocable notice that a customer will not take delivery because our customers have no contractual right to take delivery of such LNG cargo in future periods and our performance obligations with respect to such LNG cargo have been satisfied.

Revenues from Contracts with _5

Revenues from Contracts with Customers - Contract Assets and Liabilities (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Contract assets, net $ 1 $ 0
Change In Contract With Customer, Liability [Roll Forward]
Deferred revenues, beginning of period137
Cash received but not yet recognized in revenue101
Revenue recognized from prior period deferral(137)
Deferred revenues, end of period101
Deferred revenues—affiliate, beginning of period1
Cash received but not yet recognized in revenue5
Revenue recognized from prior period deferral(1)
Deferred revenues—affiliate, end of period $ 5

Revenues from Contracts with _6

Revenues from Contracts with Customers - Schedule of Transaction Price Allocated to Future Performance Obligations (Details) - USD ($) $ in BillionsMar. 31, 2021Dec. 31, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied Transaction Price $ 54.3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied Transaction Price $ 53.7
LNG [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied Transaction Price $ 52.1
Weighted Average Recognition Timing[1]9 years
LNG [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied Transaction Price $ 51.4
Weighted Average Recognition Timing[1]9 years
LNG—affiliate [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied Transaction Price $ 0.1
Weighted Average Recognition Timing[1]1 year
LNG—affiliate [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied Transaction Price $ 0.2
Weighted Average Recognition Timing[1]3 years
Regasification [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied Transaction Price $ 2.1
Weighted Average Recognition Timing[1]5 years
Regasification [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied Transaction Price $ 2.1
Weighted Average Recognition Timing[1]5 years
[1]The weighted average recognition timing represents an estimate of the number of years during which we shall have recognized half of the unsatisfied transaction price.

Related Party Transactions - Sc

Related Party Transactions - Schedule of Related Party Transactions (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Related Party Transaction [Line Items]
LNG revenues—affiliate $ 214 $ 188
Cost of sales—affiliate42 0
Operating and maintenance expense—affiliate34 33
Operating and maintenance expense—related party10 0
General and administrative expense—affiliate21 25
Cheniere Marketing Agreements [Member]
Related Party Transaction [Line Items]
LNG revenues—affiliate210 182
Cost of sales—affiliate34 0
Contracts for Sale and Purchase of Natural Gas And LNG [Member]
Related Party Transaction [Line Items]
LNG revenues—affiliate4 6
Cost of sales—affiliate8 0
Service Agreements [Member]
Related Party Transaction [Line Items]
Operating and maintenance expense—affiliate34 33
General and administrative expense—affiliate21 25
Natural Gas Transportation and Storage Agreements [Member]
Related Party Transaction [Line Items]
Operating and maintenance expense—related party $ 10 $ 0

Related Party Transactions - LN

Related Party Transactions - LNG Terminal Capacity Agreements (Details)3 Months Ended
Mar. 31, 2021USD ($)CargoDec. 31, 2020USD ($)
Related Party Transaction [Line Items]
Accounts receivable—affiliate $ 98,000,000 $ 184,000,000
SPL [Member] | Affiliated Entity [Member] | Facility Swap Agreement [Member]
Related Party Transaction [Line Items]
LNG Volume, Purchase Price Percentage of Henry Hub115.00%
SPL [Member] | Cheniere Marketing [Member] | Cheniere Marketing SPA [Member]
Related Party Transaction [Line Items]
LNG Volume, Purchase Price Percentage of Henry Hub115.00%
LNG Volume, Purchase Price Per MMBtu $ 3
SPL [Member] | Cheniere Marketing [Member] | 2021 - 2026 Letter Agreement
Related Party Transaction [Line Items]
LNG Volume, Purchase Price Percentage of Henry Hub115.00%
LNG Volume, Purchase Price Per MMBtu $ 1.72
SPL [Member] | Cheniere Marketing [Member] | 2021 - 2026 Letter Agreement | Maximum [Member]
Related Party Transaction [Line Items]
Contract Cargoes | Cargo31
SPL [Member] | Cheniere Marketing [Member] | 2021 Letter Agreement [Member]
Related Party Transaction [Line Items]
LNG Volume, Purchase Price Percentage of Henry Hub115.00%
LNG Volume, Purchase Price Per MMBtu $ 0.728
SPL [Member] | Cheniere Marketing [Member] | 2021 Letter Agreement [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Contract Cargoes | Cargo30
SPL [Member] | Cheniere Marketing [Member] | 2020 Letter Agreement
Related Party Transaction [Line Items]
LNG Volume, Purchase Price Percentage of Henry Hub115.00%
LNG Volume, Purchase Price Per MMBtu $ 1.67
SPL [Member] | Cheniere Marketing [Member] | 2020 Letter Agreement | Maximum [Member]
Related Party Transaction [Line Items]
Contract Cargoes | Cargo43

Related Party Transactions - Se

Related Party Transactions - Service Agreements (Details) - USD ($)3 Months Ended
Mar. 31, 2021Dec. 31, 2020
Related Party Transaction [Line Items]
Advances to Affiliate Current $ 127,000,000 $ 144,000,000
Service Agreements [Member]
Related Party Transaction [Line Items]
Advances to Affiliate Current127,000,000 $ 144,000,000
Cheniere Terminals [Member] | Cheniere Partners Services Agreement [Member]
Related Party Transaction [Line Items]
Quarterly non-accountable overhead reimbursement charge $ 3,000,000
SPL [Member] | Cheniere Terminals [Member] | Management Services Agreement [Member]
Related Party Transaction [Line Items]
Monthly fee as a percentage of capital expenditures incurred in the previous month2.40%
Related Party Transaction, Committed Monthly Fee $ 541,667
SPL [Member] | Cheniere Investments [Member] | Operation and Maintenance Agreement [Member]
Related Party Transaction [Line Items]
Monthly fee as a percentage of capital expenditures incurred in the previous month0.60%
Related Party Transaction, Committed Monthly Fee $ 83,333
SPLNG [Member] | Cheniere Terminals [Member] | Management Services Agreement [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Committed Monthly Fee520,000
SPLNG [Member] | Cheniere Investments [Member] | Operation and Maintenance Agreement [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Committed Monthly Fee $ 130,000
Related Party Transaction, Bonus Percentage of Salary Entitled Upon Meeting Certain Criteria50.00%

Related Party Transactions - Ot

Related Party Transactions - Other Agreements (Details) - USD ($)3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Related Party Transaction [Line Items]
Operating and maintenance expense—related party $ 10,000,000 $ 0
Accrued liabilities—related party3,000,000 $ 4,000,000
Due to affiliates31,000,000 53,000,000
Other non-current liabilities—affiliate16,000,000 17,000,000
LNG revenues—affiliate214,000,000 188,000,000
Natural Gas Transportation and Storage Agreements [Member]
Related Party Transaction [Line Items]
Operating and maintenance expense—related party10,000,000 0
SPLNG [Member] | Cooperative Endeavor Agreements [Member]
Related Party Transaction [Line Items]
Aggregate commitment under the Agreement $ 25,000,000
Tax Initiative Agreement Term10 years
SPLNG [Member] | Cheniere [Member] | Tax Sharing Agreement [Member]
Related Party Transaction [Line Items]
Income Taxes Paid, Net $ 0
SPLNG [Member] | Cheniere Marketing [Member] | Cooperative Endeavor Agreements [Member]
Related Party Transaction [Line Items]
Due to affiliates3,000,000 2,000,000
Other non-current liabilities—affiliate16,000,000 17,000,000
SPLNG [Member] | Cheniere Marketing [Member] | LNG Terminal Export Agreement [Member]
Related Party Transaction [Line Items]
LNG revenues—affiliate0 0
Tug Services [Member] | Cheniere Terminals [Member] | Terminal Marine Services Agreement [Member]
Related Party Transaction [Line Items]
General Partner Distributions $ 1,000,000 $ 1,000,000
SPL and CTPL [Member] | Natural Gas Transportation and Storage Agreements [Member]
Related Party Transaction [Line Items]
Related Party Agreement Term10 years
Operating and maintenance expense—related party $ 10,000,000
Accrued liabilities—related party $ 3,000,000 $ 4,000,000
SPL [Member] | Natural Gas Supply Agreement [Member]
Related Party Transaction [Line Items]
Related Party Agreement Term5 years
SPL [Member] | Cheniere [Member] | Tax Sharing Agreement [Member]
Related Party Transaction [Line Items]
Income Taxes Paid, Net $ 0
CTPL [Member] | Cheniere [Member] | Tax Sharing Agreement [Member]
Related Party Transaction [Line Items]
Income Taxes Paid, Net $ 0

Net Income per Common Unit (Det

Net Income per Common Unit (Details) - USD ($) $ / shares in Units, shares in Millions, $ in MillionsApr. 26, 2021Mar. 31, 2021Mar. 31, 2020
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net Income $ 347 $ 435
Declared distributions356 336
Assumed allocation of undistributed net income (loss)[1] $ (9) $ 99
Weighted average units outstanding484 348.6
Basic and diluted net income per unit $ 0.64 $ 0.84
Common Units [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net Income $ 340 $ 307
Declared distributions320 223
Assumed allocation of undistributed net income (loss)[1](8)70
Assumed allocation of net income $ 312 $ 293
Weighted average units outstanding484 348.6
Basic and diluted net income per unit $ 0.64 $ 0.84
Common Units [Member] | Subsequent Event [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Distribution Made to Limited Partner, Distributions Declared, Per Unit $ 0.660
Subordinated Units [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net Income $ 0 $ 119
Declared distributions0 87
Assumed allocation of undistributed net income (loss)[1]0 27
Assumed allocation of net income $ 0 $ 114
Weighted average units outstanding0 135.4
Basic and diluted net income per unit $ 0 $ 0.84
General Partner [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net Income $ 7 $ 9
Declared distributions7 6
Assumed allocation of undistributed net income (loss)[1]0 2
Assumed allocation of net income7 8
IDR [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Declared distributions29 20
Assumed allocation of undistributed net income (loss)[1]0 0
Assumed allocation of net income $ 29 $ 20
[1]Under our partnership agreement, the IDRs participate in net income only to the extent of the amount of cash distributions actually declared, thereby excluding the IDRs from participating in undistributed net income or loss.

Customer Concentration - Schedu

Customer Concentration - Schedule of Customer Concentration (Details)3 Months Ended12 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Customer A [Member] | Total Revenues from External Customers [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage27.00%28.00%
Customer A [Member] | Accounts Receivable, Net from External Customers [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage23.00%31.00%
Customer B [Member] | Total Revenues from External Customers [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage15.00%15.00%
Customer B [Member] | Accounts Receivable, Net from External Customers [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage15.00%21.00%
Customer C [Member] | Total Revenues from External Customers [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage18.00%15.00%
Customer C [Member] | Accounts Receivable, Net from External Customers [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage25.00%
Customer D [Member] | Total Revenues from External Customers [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage14.00%16.00%
Customer D [Member] | Accounts Receivable, Net from External Customers [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage22.00%
Customer E [Member] | Accounts Receivable, Net from External Customers [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage19.00%
Customer F [Member] | Total Revenues from External Customers [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage11.00%

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Supplemental Cash Flow Information [Abstract]
Cash paid during the period for interest on debt, net of amounts capitalized $ 185 $ 211
Balance in property, plant and equipment, net funded with accounts payable and accrued liabilities (including affiliate) $ 229 $ 219