Sabine Pass LNG 10-K19 Feb 162015 FY Annual reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Dec. 31, 2015	Jun. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Sabine Pass LNG, L.P.
Entity Central Index Key	1,379,714
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding	0
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	Yes
Entity Current Reporting Status	No
Entity Public Float		$ 0

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Current assets
Cash and cash equivalents	$ 7,642	$ 5,460
Restricted cash	77,415	14,959
Accounts receivable—affiliate	615	1,055
Advances to affiliate	7,154	1,868
Inventory	9,646	4,957
Other current assets	5,499	1,331
Total current assets	107,971	29,630
Non-current restricted cash	13,650	76,106
Property, plant and equipment, net	1,435,024	1,392,443
Debt issuance costs, net	8,416	12,643
Other non-current assets	24,612	19,802
Other non-current assets—affiliate	4,537	0
Total assets	1,594,210	1,530,624
Current liabilities
Accounts payable	2,675	408
Accrued liabilities	18,877	16,036
Current debt, net	1,661,197	0
Due to affiliates	12,840	2,266
Deferred revenue	26,669	26,655
Deferred revenue—affiliate	21,845	21,839
Total current liabilities	1,744,103	67,204
Long-term debt, net of discount	420,000	2,076,502
Non-current deferred revenue	9,500	13,500
Non-current deferred revenue—affiliate	22,080	19,626
Other non-current liabilities	175	185
Other non-current liabilities—affiliate	236	78
Commitments and contingencies (see Note 11)	0	0
Partners’ deficit	(601,884)	(646,471)
Total liabilities and partners’ deficit	$ 1,594,210	$ 1,530,624

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues
Revenues	$ 265,637	$ 265,947	$ 265,153
Revenues—affiliates	257,402	256,760	256,399
Total revenues	523,039	522,707	521,552
Operating costs and expenses
Operating and maintenance expense	35,004	30,777	32,542
Operating and maintenance expense—affiliate	22,792	16,830	25,172
Depreciation expense	44,985	42,465	42,444
General and administrative expense	3,276	2,148	2,844
General and administrative expense—affiliate	14,182	12,499	13,264
Total operating costs and expenses	120,239	104,719	116,266
Income from operations	402,800	417,988	405,286
Other income (expense)
Interest expense	(161,134)	(161,135)	(161,041)
Other income	111	36	48
Total other expense	(161,023)	(161,099)	(160,993)
Net income	$ 241,777	$ 256,889	$ 244,293

Consolidated Statement of Partn

Consolidated Statement of Partners' Deficit - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Partners' Capital Beginning of Period		$ (646,471)		$ (600,219)	$ (646,471)	$ (600,219)	$ (552,394)
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income	$ 54,865	61,746	$ 62,858	64,271	241,777	256,889	244,293
Capital contributions from Cheniere Partners					52,400	43,015	56,820
Non-cash contributions from limited partner					87,730	745
Distributions to limited partner					(337,320)	(346,901)	(348,938)
Partners' Capital End of Period	(601,884)		(646,471)		(601,884)	(646,471)	(600,219)
General Partner Sabine Pass LNG-GP, LLC [Member]
Partners' Capital Beginning of Period		0		0	0	0	0
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income					0	0	0
Capital contributions from Cheniere Partners					0		0
Non-cash contributions from limited partner					0
Distributions to limited partner					0	0
Partners' Capital End of Period	0		0		0	0	0
Limited Partner Sabine Pass LNG-LP, LLC [Member]
Partners' Capital Beginning of Period		$ (646,471)		$ (600,219)	(646,471)	(600,219)	(552,394)
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income					241,777	256,889	244,293
Capital contributions from Cheniere Partners					52,400	43,015	56,820
Non-cash contributions from limited partner					87,730	745
Distributions to limited partner					(337,320)	(346,901)	(348,938)
Partners' Capital End of Period	$ (601,884)		$ (646,471)		$ (601,884)	$ (646,471)	$ (600,219)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities
Net income	$ 241,777	$ 256,889	$ 244,293
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense	44,985	42,465	42,444
Amortization of debt issuance costs and discount	8,922	8,922	8,904
Other	887	22	44
Other—affiliate	7,216	0	0
Changes in restricted cash for certain operating activities	0	0	2,427
Changes in operating assets and liabilities:
Accounts and interest receivable	(42)	37	(31)
Accounts receivable—affiliate	307	1,561	(1,266)
Advances to affiliate	(5,286)	2,157	(2,983)
Accounts payable and accrued liabilities	2,360	(6,138)	(751)
Due to affiliates	4,671	(16,456)	12,512
Deferred revenue	(3,986)	(3,938)	(3,947)
Other, net	(11,935)	6,677	529
Other—affiliate	2,617	2,502	49
Net cash provided by operating activities	292,493	294,700	302,224
Cash flows from investing activities
Property, plant and equipment, net	(5,391)	(348)	(116)
Net cash used in investing activities	(5,391)	(348)	(116)
Cash flows from financing activities
Capital contributions from Cheniere Partners	52,400	43,015	56,820
Distributions to limited partner	(337,320)	(346,901)	(348,938)
Debt issuance costs	0	0	(198)
Net cash used in financing activities	(284,920)	(303,886)	(292,316)
Net increase (decrease) in cash and cash equivalents	2,182	(9,534)	9,792
Cash and cash equivalents—beginning of period	5,460	14,994	5,202
Cash and cash equivalents—end of period	$ 7,642	$ 5,460	$ 14,994

Organization and Nature of Oper

Organization and Nature of Operations	12 Months Ended
Organization and Nature of Operations	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Operations	ORGANIZATION AND NATURE OF OPERATIONS We are a Houston-based Delaware limited partnership formed by Cheniere to own, develop and operate an LNG receiving and regasification terminal in western Cameron Parish, Louisiana, less than four miles from the Gulf Coast on the Sabine-Neches Waterway (our “LNG terminal”). We were formed with one general partner, Sabine Pass GP, and one limited partner, Sabine Pass LP, both indirect subsidiaries of Cheniere. Cheniere has an 80.1% ownership in Cheniere Holdings, which in turn has a 55.9% ownership interest in Cheniere Partners. Cheniere Partners is the 100% parent of Cheniere Investments, which in turn is the 100% parent of Sabine Pass GP and Sabine Pass LP and, indirectly, us. Our LNG terminal includes existing infrastructure of five LNG storage tanks with capacity of approximately 16.9 Bcfe, two docks that can accommodate vessels with nominal capacity of up to 266,000 cubic meters and vaporizers with regasification capacity of approximately 4.0 Bcf/d.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Our Consolidated Financial Statements were prepared in accordance with GAAP . Our Consolidated Financial Statements include the accounts of SPLNG and its wholly owned subsidiary. All intercompany accounts and transactions have been eliminated in consolidation. Certain reclassifications have been made to conform prior period information to the current presentation. The reclassifications had no effect on our overall consolidated financial position, operating results or cash flows. Use of Estimates The preparation of Consolidated Financial Statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and the accompanying notes. Management evaluates its estimates and related assumptions regularly, including those related to the value of property, plant and equipment, collectability of accounts receivable, derivative instruments, asset retirement obligations (“AROs”) and fair value measurements. Changes in facts and circumstances or additional information may result in revised estimates, and actual results may differ from these estimates. Fair Value Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Hierarchy Levels 1, 2 and 3 are terms for the priority of inputs to valuation techniques used to measure fair value. Hierarchy Level 1 inputs are quoted prices in active markets for identical assets or liabilities. Hierarchy Level 2 inputs are inputs other than quoted prices included within Level 1 that are directly or indirectly observable for the asset or liability. Hierarchy Level 3 inputs are inputs that are not observable in the market. In determining fair value, we use observable market data when available, or models that incorporate observable market data. In addition to market information, we incorporate transaction-specific details that, in management’s judgment, market participants would take into account in measuring fair value. We maximize the use of observable inputs and minimize our use of unobservable inputs in arriving at fair value estimates. Recurring fair-value measurements are performed for commodity derivatives as disclosed in Note 6—Derivative Instruments . The carrying amount of cash and cash equivalents, restricted cash, accounts receivable and accounts payable reported on the Consolidated Balance Sheets approximates fair value. The fair value of debt is the estimated amount we would have to pay to repurchase our debt in the open market, including any premium or discount attributable to the difference between the stated interest rate and market interest rate at each balance sheet date. Debt fair values, as disclosed in Note 8—Long-Term Debt , are based on quoted market prices for identical instruments, if available, or based on valuations of similar debt instruments. Non-financial assets and liabilities initially measured at fair value include certain assets and liabilities acquired in a business combination, intangible assets and AROs. Revenue Recognition LNG regasification capacity reservation fees are recognized as revenue over the term of the respective TUAs. Advance capacity reservation fees are initially deferred and amortized over a 10 -year period as a reduction of a customer’s regasification capacity reservation fees payable under its TUA. For a discussion of revenue from related parties, please read Note 9—Related Party Transactions . Under each of these TUAs, we are entitled to retain 2% of LNG delivered for each customer’s account at our LNG terminal, which is recognized as revenue as we perform the services set forth in each customer’s TUA. Cash and Cash Equivalents We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents. Restricted Cash Restricted cash consists of funds that are contractually restricted as to usage or withdrawal and have been presented separately from cash and cash equivalents on our Consolidated Balance Sheets. Amounts that are designated as restricted cash are contractually restricted as to usage or withdrawal and will not become available to us as cash and cash equivalents. For these amounts, we have presented increases and decreases separately from increases and decreases in cash and cash equivalents in our Consolidated Statements of Cash Flows. These amounts that represent non-cash transactions within our Consolidated Statements of Cash Flows present the effect of sources and uses of restricted cash as they relate to the changes to assets and liabilities in our Consolidated Balance Sheets. Restricted cash is presented on a gross basis within each of those categories so as to reconcile the change in non-cash activity that occurs on the balance sheet from period to period. Inventory Inventory is recorded at cost and is subject to lower of cost or market (“LCM”) adjustments at the end of each period. Inventory cost is determined using the average cost method. Our LCM adjustments primarily related to inventory purchased to maintain the cryogenic readiness of our LNG terminal that are recorded in operating and maintenance expense on our Consolidated Statements of Operations. Recoveries of losses resulting from interim period LCM adjustments are recorded when market price recoveries occur on the same inventory in the same fiscal year. These recoveries are recognized as gains in later interim periods with such gains not exceeding previously recognized losses. Property, Plant and Equipment Property, plant and equipment are recorded at cost. Expenditures for construction activities, major renewals and betterments that extend the useful life of an asset are capitalized, while expenditures for maintenance and repairs and general and administrative activities are charged to expense as incurred. Interest costs incurred on debt obtained for the construction of property, plant and equipment are capitalized as construction-in-process over the construction period or related debt term, whichever is shorter. We depreciate our property, plant and equipment using the straight-line depreciation method. Upon retirement or other disposition of property, plant and equipment, the cost and related accumulated depreciation are removed from the account, and the resulting gains or losses are recorded in other operating costs and expenses. Management tests property, plant and equipment for impairment whenever events or changes in circumstances have indicated that the carrying amount of property, plant and equipment might not be recoverable. Assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of the cash flows of other groups of assets for purposes of assessing recoverability. Recoverability generally is determined by comparing the carrying value of the asset to the expected undiscounted future cash flows of the asset. If the carrying value of the asset is not recoverable, the amount of impairment loss is measured as the excess, if any, of the carrying value of the asset over its estimated fair value. We have recorded no impairments related to property, plant and equipment for 2015 , 2014 and 2013 . Derivative Instruments We use derivative instruments to hedge our exposure to cash flow variability from commodity price risk. Derivative instruments are recorded at fair value and included in our Consolidated Balance Sheets as assets or liabilities depending on the derivative position and the expected timing of settlement, unless they satisfy criteria for, and we elect, the normal purchases and sales exception. When we have the contractual right and intend to net settle, derivative assets and liabilities are reported on a net basis. Changes in the fair value of our derivative instruments are recorded in current earnings, unless we elect to apply hedge accounting and meet specified criteria, including completing contemporaneous hedge documentation. We did no t have any derivative instruments designated as cash flow hedges as of December 31, 2015 and 2014 . See Note 6—Derivative Instruments for additional details about our derivative instruments. Concentration of Credit Risk Financial instruments that potentially subject us to a concentration of credit risk consist principally of cash and cash equivalents and restricted cash. We maintain cash balances at financial institutions, which may at times be in excess of federally insured levels. We have not incurred losses related to these balances to date. The use of derivative instruments exposes us to counterparty credit risk, or the risk that a counterparty will be unable to meet its commitments. Our commodity derivative transactions are executed through over-the-counter contracts which are subject to nominal credit risk as these transactions are settled on a daily margin basis with investment grade financial institutions. Collateral deposited for such contracts is recorded as an other current asset. We monitor counterparty creditworthiness on an ongoing basis; however, we cannot predict sudden changes in counterparties’ creditworthiness. In addition, even if such changes are not sudden, we may be limited in our ability to mitigate an increase in counterparty credit risk. Should one of these counterparties not perform, we may not realize the benefit of some of our derivative instruments. We have entered into two long-term TUAs with unaffiliated third parties for regasification capacity at our LNG terminal. We are dependent on the respective counterparties’ creditworthiness and their willingness to perform under their respective TUAs. SPLNG has mitigated this credit risk by securing TUAs for a significant portion of its regasification capacity with creditworthy third-party customers with a minimum Standard & Poor’s rating of AA. Debt Our debt consists of current and long-term secured debt securities with banks and other lenders. Debt issuances are placed directly by us or through securities dealers or underwriters and are held by institutional and retail investors. Debt is recorded on our Balance Sheet at par value adjusted for unamortized discount or premium. Discounts, premiums and costs directly related to the issuance of debt are amortized over the life of the debt and are recorded in interest expense, net using the effective interest method. Gains and losses on the extinguishment of debt are recorded in gains and losses on the extinguishment of debt on our Consolidated Statements of Income. Debt issuance costs consist primarily of arrangement fees, professional fees, legal fees and printing costs. These costs are recorded as debt issuance costs on our Consolidated Balance Sheets and are being amortized to interest expense over the term of the related debt facility. Upon early retirement of debt or amendment to a debt agreement, certain fees are written off to loss on early extinguishment of debt. Asset Retirement Obligations We recognize AROs for legal obligations associated with the retirement of long-lived assets that result from the acquisition, construction, development and/or normal use of the asset and for conditional AROs in which the timing or method of settlement are conditional on a future event that may or may not be within our control. The fair value of a liability for an ARO is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made. The fair value of the liability is added to the carrying amount of the associated asset. This additional carrying amount is depreciated over the estimated useful life of the asset. Our recognition of AROs is described below. Based on the real property lease agreements at our LNG terminal, at the expiration of the term of the leases, we are required to surrender the LNG terminal in good working order and repair, with normal wear and tear and casualty expected. Our property lease agreements at our LNG terminal have terms of up to 90 years including renewal options. We have determined that the cost to surrender our LNG terminal in good order and repair, with normal wear and tear and casualty expected, is zero . Therefore, we have not recorded an ARO associated with our LNG terminal. Income Taxes We are a disregarded entity for federal and state income tax purposes. Our taxable income or loss, which may vary substantially from the net income or loss reported on our Consolidated Statements of Operations, is able to be included in the federal income tax return of Cheniere Partners, a publicly traded partnership which indirectly owns us. Accordingly, no provision or liability for federal or state income taxes is included in the accompanying Consolidated Financial Statements. At December 31, 2015 , the tax basis of our assets and liabilities was $548.5 million less than the reported amounts of our assets and liabilities. Pursuant to the indentures governing our long-term debt (the “Senior Notes Indentures”), we are permitted to make distributions (“Tax Distributions”) for any fiscal year or portion thereof in which we are a limited partnership, disregarded entity or other substantially similar pass-through entity for federal and state income tax purposes. The permitted Tax Distributions are equal to the tax that we would owe if we were a corporation subject to federal and state income tax that filed separate federal and state income tax returns, excluding the amounts covered by the State Tax Sharing Agreement discussed in Note 9—Related Party Transactions . The Tax Distributions are limited to the amount of federal and/or state income taxes paid by Cheniere to the appropriate taxing authorities and are payable by us within 30 days of the date that Cheniere is required to make federal or state income tax payments to the appropriate taxing authorities.

Restricted Cash

Restricted Cash	12 Months Ended
Restricted Cash	Dec. 31, 2015
Cash and Cash Equivalents [Abstract]
Restricted Cash	RESTRICTED CASH Restricted cash consists of funds that are contractually restricted as to usage or withdrawal, are controlled by a collateral trustee and have been presented separately from cash and cash equivalents on our Consolidated Balance Sheets. We have consummated private offerings of an aggregate principal amount of $1.7 billion , before discount, of 7.50% Senior Secured Notes due 2016 (the “2016 Senior Notes”) and $0.4 billion of 6.50% Senior Secured Notes due 2020 (the “2020 Senior Notes” and collectively with the 2016 Senior Notes, the “Senior Notes”) . Under the indentures governing the Senior Notes (the “Senior Notes Indentures”) , except for permitted tax distributions, we may not make distributions until certain conditions are satisfied, including: (1) there must be on deposit in an interest payment account an amount equal to one-sixth of the semi-annual interest payment multiplied by the number of elapsed months since the last semi-annual interest payment, and (2) there must be on deposit in a permanent debt service reserve fund an amount equal to one semi-annual interest payment. Distributions are permitted only after satisfying the foregoing funding requirements, a fixed charge coverage ratio test of 2 :1 and other conditions specified in the Senior Notes Indentures . As of December 31, 2015 and 2014 , we classified $77.4 million and $15.0 million , respectively, as current restricted cash for the payment of current interest due. As of December 31, 2015 and 2014 , we classified the permanent debt service reserve fund of $13.7 million and $76.1 million , respectively, as non-current restricted cash. The cash accounts are controlled by a collateral trustee; therefore, these amounts are shown as restricted on our Consolidated Balance Sheets. See Note 8—Long-Term Debt for additional details about our long-term debt.

Inventory

Inventory	12 Months Ended
Inventory	Dec. 31, 2015
Inventory Disclosure [Abstract]
Inventory	INVENTORY As of December 31, 2015 and 2014 , inventory consisted of the following (in thousands): December 31, 2015 2014 LNG $ 3,690 $ 1,987 Materials and other 5,956 2,970 Total inventory $ 9,646 $ 4,957

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
Property, Plant and Equipment	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consists of LNG terminal costs and fixed assets, as follows (in thousands): December 31, 2015 2014 LNG terminal costs LNG terminal $ 1,723,534 $ 1,643,018 LNG terminal construction-in-process 7,011 27 LNG site and related costs, net 135 142 Accumulated depreciation (295,793 ) (250,954 ) Total LNG terminal costs, net 1,434,887 1,392,233 Fixed assets Machinery and equipment 1,061 1,169 Computer and office equipment 424 424 Vehicles 676 654 Other 669 697 Accumulated depreciation (2,693 ) (2,734 ) Total fixed assets, net 137 210 Property, plant and equipment, net $ 1,435,024 $ 1,392,443 Our LNG terminal is depreciated using the straight-line depreciation method applied to groups of LNG terminal assets with varying useful lives. The identifiable components of our LNG terminal with similar estimated useful lives have a depreciable range between 15 and 50 years, as follows: Components Useful life (yrs) LNG storage tanks 50 Marine berth, electrical, facility and roads 35 Regasification processing equipment (recondensers, vaporization and vents) 30 Sendout pumps 20 Others 15-30

Derivative Instruments

Derivative Instruments	12 Months Ended
Derivative Instruments	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	DERIVATIVE INSTRUMENTS We have entered into forward contracts to hedge the exposure to price risk attributable to future purchases of natural gas to operate our LNG terminal (“Fuel Derivatives”) . We elected to account for these Fuel Derivatives as normal purchase normal sale transactions, exempt from fair value accounting. Gains and losses for these physical hedges are not reflected on our Consolidated Statements of Income until the period of delivery. We had not posted collateral for such forward contracts as of December 31, 2015 and 2014 . Additionally, we have entered into certain derivative instruments to hedge the exposure to variability in expected future cash flows attributable to the future sale of our LNG inventory (“Natural Gas Derivatives”) . The following table (in thousands) shows the fair value of the derivative instruments that are required to be measured at fair value on a recurring basis as of December 31, 2015 and 2014 , which are classified as other current assets in our Consolidated Balance Sheets. Fair Value Measurements as of December 31, 2015 December 31, 2014 Quoted Prices in Active Markets Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Quoted Prices in Active Markets Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Natural Gas Derivatives asset $ — $ 10 $ — $ 10 $ — $ 145 $ — $ 145 The estimated fair values of our Natural Gas Derivatives are the amounts at which the instruments could be exchanged currently between willing parties. We value these derivatives using observable commodity price curves and other relevant data. Derivative assets and liabilities arising from our derivative contracts with the same counterparty are reported on a net basis, as all counterparty derivative contracts provide for net settlement. 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 Natural Gas Derivatives are in an asset position. Our derivative transactions are executed through over-the-counter contracts which are subject to nominal credit risk as these transactions are settled on a daily margin basis with investment grade financial institutions. We are required by these financial institutions to use margin deposits as credit support for these derivative activities. We had collateral calls of zero and $132,000 for such contracts, which have not been reflected in the derivative fair value tables, but are included in the other current assets balance as of December 31, 2015 and 2014 , respectively. We recognize all derivative instruments that qualify for derivative accounting treatment as either assets or liabilities and measure those instruments at fair value. The following table (in thousands) shows the fair value and location of our Natural Gas Derivatives on our Consolidated Balance Sheets: Fair Value Measurements as of Balance Sheet Location December 31, 2015 December 31, 2014 Natural Gas Derivatives asset Other current assets $ 10 $ 145 The following table (in thousands) shows the changes in the fair value and settlements of our Natural Gas Derivatives recorded in operating and maintenance expense on our Consolidated Statements of Income during the years ended December 31, 2015, 2014 and 2013 : Year Ended December 31, 2015 2014 2013 Natural Gas Derivatives gain $ 223 $ 528 $ 182 Balance Sheet Presentation Our Natural Gas Derivatives are presented on a net basis on our Consolidated Balance Sheets as described above. The following table shows the fair value (in thousands) of our Natural Gas Derivatives outstanding on a gross and net basis: Gross Amounts Recognized Gross Amounts Offset in the Consolidated Balance Sheets Net Amounts Presented in the Consolidated Balance Sheets Offsetting Derivative Assets (Liabilities) As of December 31, 2015 Natural Gas Derivatives $ 36 $ (26 ) $ 10 As of December 31, 2014 Natural Gas Derivatives 147 (2 ) 145

Accrued Liabilities

Accrued Liabilities	12 Months Ended
Accrued Liabilities	Dec. 31, 2015
Accrued Liabilities [Abstract]
Accrued Liabilities	ACCRUED LIABILITIES As of December 31, 2015 and 2014 , accrued liabilities consisted of the following (in thousands): December 31, 2015 2014 Interest expense $ 14,960 $ 14,959 LNG terminal costs 3,917 1,077 Total accrued liabilities $ 18,877 $ 16,036

Long-Term Debt

Long-Term Debt	12 Months Ended
Long-Term Debt	Dec. 31, 2015
Debt Disclosure [Abstract]
Long-term Debt	LONG-TERM DEBT As of December 31, 2015 and 2014 , our long-term debt consisted of the following (in thousands): Interest December 31, Rate 2015 2014 Long-term debt 2016 Senior Notes 7.500% $ 1,665,500 $ 1,665,500 2020 Senior Notes 6.500% 420,000 420,000 Total long-term debt 2,085,500 2,085,500 Long-term debt discount 2016 Senior Notes (4,303 ) (8,998 ) Subtotal long-term debt, net 2,081,197 2,076,502 Less: current portion of long-term debt, net 1,661,197 — Total long-term debt, net $ 420,000 $ 2,076,502 Below is a schedule of future principal payments that we are obligated to make on our outstanding debt at December 31, 2015 (in thousands): Years Ending December 31, Principal Payments 2016 $ 1,665,500 2017 — 2018 — 2019 — 2020 420,000 Thereafter — Total $ 2,085,500 Senior Notes The terms of the 2016 Senior Notes and 2020 Senior Notes are substantially similar. Interest on the Senior Notes is payable semi-annually in arrears. Subject to permitted liens, the Senior Notes are secured on a pari passu first-priority basis by a security interest in all of our equity interests and substantially all of our operating assets. We may redeem all or part of our 2016 Senior Notes at any time at a redemption price equal to 100% of the principal plus any accrued and unpaid interest plus the greater of: • 1.0% of the principal amount of the 2016 Senior Notes; or • the excess of: (1) the present value at such redemption date of (a) the redemption price of the 2016 Senior Notes plus (b) all required interest payments due on the 2016 Senior Notes (excluding accrued but unpaid interest to the redemption date), computed using a discount rate equal to the treasury rate as of such redemption date plus 50 basis points; over (2) the principal amount of the 2016 Senior Notes if greater. We may redeem all or part of the 2020 Senior Notes at any time on or after November 1, 2016, at fixed redemption prices specified in the indenture governing the 2020 Senior Notes, plus accrued and unpaid interest, if any, to the date of redemption. We may also redeem, at our option, all or part of the 2020 Senior Notes at any time prior to November 1, 2016, at a “make-whole” price set forth in the indenture governing the 2020 Senior Notes, plus accrued and unpaid interest, if any, to the date of redemption. Under the Senior Notes Indentures , except for permitted tax distributions, we may not make distributions until certain conditions are satisfied as described in Note 3—Restricted Cash . During the years ended December 31, 2015, 2014 and 2013 , we made distributions of $337.3 million , $346.9 million and $348.9 million , respectively, after satisfying all the applicable conditions in the Senior Notes Indentures . Fair Value Disclosures The following table shows the carrying amount and estimated fair value (in thousands) of our long-term debt: December 31, 2015 December 31, 2014 Carrying Amount Estimated Fair Value (1) Carrying Amount Estimated Fair Value (1) 2016 Senior Notes, net of discount $ 1,661,197 $ 1,652,891 $ 1,656,502 $ 1,718,621 2020 Senior Notes 420,000 403,200 420,000 428,400 (1) The Level 2 estimated fair value was based on quotations obtained from broker-dealers who make markets in these and similar instruments based on the closing trading prices on December 31, 2015 and 2014 , as applicable.

Related Party Transactions

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS Terminal Use Agreement SPL, a wholly owned subsidiary of Cheniere Partners, obtained approximately 2.0 Bcf/d of regasification capacity under a TUA with us as a result of an assignment in July 2012 by Cheniere Investments, a wholly owned subsidiary of Cheniere Partners, of its rights, title and interest under its TUA with us. SPL is obligated to make monthly capacity payments to us aggregating approximately $250 million per year, continuing until at least 20 years after SPL delivers its first commercial cargo at SPL’s facilities under construction. We entered into a terminal use rights assignment and agreement (the “TURA”) with SPL and Cheniere Investments pursuant to which Cheniere Investments has the right to use SPL ’s reserved capacity under the TUA and has the obligation to make the monthly capacity payments required by the TUA to us. Cheniere Investments’ right to use capacity at our LNG terminal will be reduced as each of Train s 1 through 4 reaches commercial operations. The percentage of the monthly capacity payments payable by Cheniere Investments will be reduced from 100% to zero (unless Cheniere Investments utilizes terminal use capacity after Train 4 reaches commercial operations), and the percentage of the monthly capacity payments payable by SPL will increase by the amount that Cheniere Investments’ percentage decreases. Cheniere Partners has guaranteed SPL ’s obligations under the TUA and the obligations of Cheniere Investments under the TURA . Services Agreements We have entered into a long-term operation and maintenance agreement (the “O&M Agreement”) with Cheniere Investments pursuant to which we receive all necessary services required to operate and maintain our LNG receiving terminal. We incur a fixed monthly fee of $130,000 (indexed for inflation) under the O&M Agreement , which is recorded as general and administrative expense—affiliate on our Consolidated Statements of Income, and the cost of a bonus equal to 50% of the salary component of labor costs in certain circumstances to be agreed upon between the parties at the beginning of each operating year. In addition, we incur costs to reimburse Cheniere Investments for its operating expenses, which consist primarily of labor expenses. We have entered into a long-term management services agreement (the “MSA”) with Cheniere Terminals, a wholly owned subsidiary of Cheniere, pursuant to which Cheniere Terminals manages the operation of our LNG receiving terminal, excluding those matters provided for under the O&M Agreement . We incur a monthly fixed fee of $520,000 (indexed for inflation) under the MSA , which is recorded as general and administrative expense—affiliate on our Consolidated Statements of Income. Cheniere Investments has entered into an information technology services agreement with Cheniere, pursuant to which Cheniere Investment’s subsidiaries, including us, receive certain information technology services. On a quarterly basis, the various entities receiving the benefit are invoiced by Cheniere 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. As of December 31, 2015 and 2014 , we had $7.2 million and $1.9 million , respectively, of advances to affiliates under the foregoing services agreements. During the years ended December 31, 2015, 2014 and 2013 , we recorded general and administrative expense—affiliate of $14.2 million , $12.5 million and $13.3 million , respectively, and operating and maintenance expense—affiliate of $23.5 million , $17.3 million and $25.2 million , respectively, under the foregoing services agreements. Agreement to Fund Our Cooperative Endeavor Agreements (“CEAs”) We have executed CEAs with various Cameron Parish, Louisiana taxing authorities that allow them to collect certain annual property tax payments from 2007 through 2016. This 10 -year initiative represents an aggregate commitment of up to $25.0 million , and we will make resources available to the Cameron Parish taxing authorities on an accelerated basis in order to aid in their reconstruction efforts following Hurricane Rita. In exchange for our advance payments of annual ad valorem taxes, Cameron Parish will grant us a dollar-for-dollar credit against future ad valorem taxes to be levied against our LNG terminal starting in 2019. In September 2007, we entered into an agreement with Cheniere Marketing, pursuant to which Cheniere Marketing would pay us additional TUA revenues equal to any and all amounts payable under the CEAs in exchange for a similar amount of credits against future TUA payments it would owe us under its TUA starting in 2019. In June 2010, Cheniere Marketing assigned its TUA to Cheniere Investments and concurrently entered into a variable capacity rights agreement (“VCRA”) , allowing Cheniere Marketing to utilize Cheniere Investments’ capacity under the TUA after the assignment. In July 2012, Cheniere Investments entered into an amended and restated VCRA with Cheniere Marketing in order for Cheniere Investments to utilize during construction of SPL’s liquefaction project the capacity rights granted under the TURA . Cheniere Marketing will continue to fund the CEAs during the term of the amended and restated VCRA and, in exchange, Cheniere Marketing will receive the benefit of any future credits. These advance tax payments were recorded to other non-current assets, and payments from Cheniere Marketing that we utilized to make the ad valorem tax payments were recorded as deferred revenue—affiliate. As of December 31, 2015 and 2014 , we had $22.1 million and $19.6 million , respectively, of both other non-current assets resulting from ad valorem tax payments and non-current deferred revenue—affiliate resulting from these payments received from Cheniere Marketing. Contracts for Sale and Purchase of Natural Gas and LNG We are able to sell and purchase natural gas and LNG under agreements with Cheniere Marketing. Under these agreements, we purchase 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 the natural gas or LNG to our LNG terminal. As a result, we record the purchases of natural gas and LNG from Cheniere Marketing to be utilized as fuel to operate our LNG terminal as operating and maintenance expense. We recorded operating and maintenance expense of $5.0 million , $3.3 million and $3.3 million in the years ended December 31, 2015, 2014 and 2013 , respectively, of natural gas purchased from Cheniere Marketing under these agreements. We recorded revenues of $11.7 million , $0.7 million and $14.7 million in the years ended December 31, 2015, 2014 and 2013 , respectively, for natural gas sold to Cheniere Marketing under these agreements. Tug Boat Lease Sharing Agreement In connection with our tug boat lease, Tug Services, our wholly owned subsidiary, entered into a tug sharing agreement with a wholly owned subsidiary of Cheniere to provide its LNG cargo vessels with tug boat and marine services at our LNG terminal. Tug Services recorded revenues—affiliate of $2.8 million pursuant to this agreement in each of the years ended December 31, 2015, 2014 and 2013 . LNG Site Sublease Agreement We have entered into agreements with SPL to sublease a portion of the LNG terminal site for its liquefaction project. The annual sublease payment is $1.0 million , which was increased from $0.5 million during 2015. The initial term of the sublease expires on December 31, 2034, with options to renew for multiple 10 -year extensions with similar terms as the initial term. The annual sublease payment will be adjusted for inflation every five years based on a consumer price index, as defined in the sublease agreement. We recognized $0.7 million , $0.5 million and $0.5 million of sublease revenue from SPL as a credit to operating and maintenance expense—affiliate on our Consolidated Statements of Income for each of the years ended December 31, 2015, 2014 and 2013 , respectively. LNG Terminal Export Agreement We have entered into an LNG Terminal Export Agreement with Cheniere Marketing that provides Cheniere Marketing with the ability to export LNG from our LNG terminal. We did not record any revenues associated with this agreement during the years ended December 31, 2015, 2014 and 2013 . Cooperation Agreement We have entered into an agreement with SPL to allow SPL to retain and acquire certain rights to access the property and facilities that we own for the purpose of constructing, modifying and operating SPL’s facilities under construction. In consideration for the access we have given, SPL has agreed to transfer title to us of certain facilities, equipment and modifications, which we are obligated to operate and maintain. The term of this agreement is consistent with our TUA described above. Under this agreement, SPL conveyed to us $80.5 million and $0.7 million of assets during the years ended December 31, 2015 and 2014, respectively. SPL did no t convey any assets to us during the year ended December 31, 2013. State Tax Sharing Agreement We have entered into a state tax sharing agreement with Cheniere. Under this agreement, Cheniere has agreed to prepare and file all state and local tax returns which we 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, we will pay to Cheniere an amount equal to the state and local tax that we would be required to pay if our 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 us under this agreement; therefore, Cheniere has not demanded any such payments from us. The agreement is effective for tax returns due on or after January 1, 2008.

Leases

Leases	12 Months Ended
Leases	Dec. 31, 2015
Leases [Abstract]
Leases	LEASES During the years ended December 31, 2015, 2014 and 2013 , we recognized rental expense for all operating leases of $9.0 million , $9.2 million and $8.8 million , respectively, related primarily to land sites. Our land site leases for the LNG terminal have initial terms varying up to 30 years with multiple options to renew up to an additional 60 years . Lease payments under our tug boat leases are effectively offset by service fees received from our three TUA customers. Future annual minimum lease payments, excluding inflationary adjustments, are as follows (in thousands): Year ending December 31, Operating Leases (1) 2016 $ 1,910 2017 1,511 2018 1,510 2019 1,510 2020 1,486 Thereafter (2) 20,811 Total minimum payments required $ 28,738 (1) Lease payments for our land leases do not take into account the $17.9 million sublease payments we will receive from SPL, as discussed in Note 9—Related Party Transactions . (2) Includes certain lease option renewals that are reasonably assured .

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES LNG TUA Commitments We have entered into TUAs with Total Gas & Power North America, Inc., Chevron U.S.A. Inc. and SPL to provide berthing for LNG vessels and for the unloading, storage and regasification of LNG at our LNG terminal. See Note 9—Related Party Transactions for information regarding such agreements. Services Agreements We have entered into certain services agreements with affiliates. See Note 9—Related Party Transactions for information regarding such agreements. State Tax Sharing Agreement We have entered into a state tax sharing agreement with Cheniere. See Note 9—Related Party Transactions for information regarding this agreement. Cooperative Endeavor Agreements We have executed CEAs with various Cameron Parish, Louisiana taxing authorities. See Note 9—Related Party Transactions for information regarding such agreements. Other Commitments In the ordinary course of business, we have entered into certain multi-year licensing and service agreements, none of which are considered material to our financial position. Additionally, we have various lease commitments, as disclosed in Note 10—Leases . Legal Proceedings We may in the future be involved as a party to various legal proceedings, which are incidental to the ordinary course of business. We regularly analyze current information and, as necessary, provide accruals for probable liabilities on the eventual disposition of these matters. In the opinion of management, as of December 31, 2015 , there were no pending legal matters that would reasonably be expected to have a material impact on our consolidated operating results, financial position or cash flows.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
Supplemental Cash Flow Information	Dec. 31, 2015
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	SUPPLEMENTAL CASH FLOW INFORMATION The following table provides supplemental disclosure of cash flow information (in thousands): Year Ended December 31, 2015 2014 2013 Cash paid during the year for interest $ 152,213 $ 152,213 $ 153,350 Balance in property, plant and equipment, net funded with accounts payable and accrued liabilities (including affiliate) 1,645 — — Non-cash contributions for conveyance of assets under Cooperation Agreement 80,515 745 — Non-cash contributions from limited partner for certain operating activities 7,216 — —

Recent Accounting Standards

Recent Accounting Standards	12 Months Ended
Recent Accounting Standards	Dec. 31, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Standards	RECENT ACCOUNTING STANDARDS The following table provides a brief description of recent accounting standards that had not yet adopted by the Company as of December 31, 2015 : Standard Description Expected Date of Adoption Effect on our Consolidated Financial Statements or Other Significant Matters ASU 2014-09, Revenue from Contracts with Customers (Topic 606) The standard amends existing revenue recognition guidance and requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance may be early adopted beginning January 1, 2017, and may be adopted either retrospectively to each prior reporting period presented or as a cumulative-effect adjustment as of the date of adoption. January 1, 2018 We are currently evaluating the impact of the provisions of this guidance on our Consolidated Financial Statements and related disclosures. ASU 2014-15, Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern The standard requires an entity’s management to evaluate, for each reporting period, whether there are conditions and events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the financial statements are issued. Additional disclosures are required if management concludes that conditions or events raise substantial doubt about the entity’s ability to continue as a going concern. Early adoption is permitted. December 31, 2016 The adoption of this guidance is not expected to have an impact on our Consolidated Financial Statements or related disclosures. ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis This amendment primarily affects asset managers and reporting entities involved with limited partnerships or similar entities, but the analysis is relevant in the evaluation of any reporting organization’s requirement to consolidate a legal entity. This guidance changes (1) the identification of variable interests, (2) the variable interest entity characteristics for a limited partnership or similar entity and (3) the primary beneficiary determination. This guidance may be early adopted, and may be adopted either retrospectively to each prior reporting period presented or as a cumulative-effect adjustment as of the date of adoption. January 1, 2016 The adoption of this guidance is not expected to have an impact on our Consolidated Financial Statements or related disclosures. ASU 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs and ASU 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements This standard requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the debt liability rather than as an asset. Debt issuance costs incurred in connection with line of credit arrangements may be presented as an asset and subsequently amortized ratably over the term of the line of credit arrangement. This guidance may be early adopted, and must be adopted retrospectively to each prior reporting period presented. January 1, 2016 Upon adoption of this standard, the balance of debt, net will be reduced by the balance of debt issuance costs, net, except for the balance related to line of credit arrangements, on our Consolidated Balance Sheets. Additionally, disclosures will be required for a change in accounting principle. Standard Description Expected Date of Adoption Effect on our Consolidated Financial Statements or Other Significant Matters ASU 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory This standard requires inventory to be measured at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. This guidance may be early adopted and must be adopted prospectively. January 1, 2017 We are currently evaluating the impact of the provisions of this guidance on our Consolidated Financial Statements and related disclosures.

Subsequent Events

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS In January 2016, Cheniere Partners engaged 13 financial institutions to act as Joint Lead Arrangers, Mandated Lead Arrangers and other participants to assist in the structuring and arranging of up to approximately $2.8 billion of senior secured credit facilities. Proceeds from these new credit facilities are intended to be used to redeem or repay $1,665.5 million of the 2016 Senior Notes and $420.0 million of the 2020 Senior Notes , to pay associated transaction fees, expenses and make-whole amounts, if applicable, and for general business purposes of Cheniere Partners and its subsidiaries.

Summarized Quarterly Financial

Summarized Quarterly Financial Data (unaudited)	12 Months Ended
Summarized Quarterly Financial Data (unaudited)	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Summarized Quarterly Financial Data (unaudited)	Summarized Quarterly Financial Data—(in thousands) First Quarter Second Quarter Third Quarter Fourth Quarter Year ended December 31, 2015: Revenues $ 130,846 $ 130,726 $ 130,819 $ 130,648 Income from operations 102,007 103,959 101,730 95,104 Net income 61,746 63,701 61,465 54,865 Year ended December 31, 2014: Revenues $ 130,734 $ 131,040 $ 131,001 $ 129,932 Income from operations 104,537 105,967 104,360 103,124 Net income 64,271 65,690 64,070 62,858

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation, Policy	Basis of Presentation Our Consolidated Financial Statements were prepared in accordance with GAAP . Our Consolidated Financial Statements include the accounts of SPLNG and its wholly owned subsidiary. All intercompany accounts and transactions have been eliminated in consolidation. Certain reclassifications have been made to conform prior period information to the current presentation. The reclassifications had no effect on our overall consolidated financial position, operating results or cash flows.
Use of Estimates, Policy	Use of Estimates The preparation of Consolidated Financial Statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and the accompanying notes. Management evaluates its estimates and related assumptions regularly, including those related to the value of property, plant and equipment, collectability of accounts receivable, derivative instruments, asset retirement obligations (“AROs”) and fair value measurements. Changes in facts and circumstances or additional information may result in revised estimates, and actual results may differ from these estimates.
Fair Value, Policy	Fair Value Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Hierarchy Levels 1, 2 and 3 are terms for the priority of inputs to valuation techniques used to measure fair value. Hierarchy Level 1 inputs are quoted prices in active markets for identical assets or liabilities. Hierarchy Level 2 inputs are inputs other than quoted prices included within Level 1 that are directly or indirectly observable for the asset or liability. Hierarchy Level 3 inputs are inputs that are not observable in the market. In determining fair value, we use observable market data when available, or models that incorporate observable market data. In addition to market information, we incorporate transaction-specific details that, in management’s judgment, market participants would take into account in measuring fair value. We maximize the use of observable inputs and minimize our use of unobservable inputs in arriving at fair value estimates. Recurring fair-value measurements are performed for commodity derivatives as disclosed in Note 6—Derivative Instruments . The carrying amount of cash and cash equivalents, restricted cash, accounts receivable and accounts payable reported on the Consolidated Balance Sheets approximates fair value. The fair value of debt is the estimated amount we would have to pay to repurchase our debt in the open market, including any premium or discount attributable to the difference between the stated interest rate and market interest rate at each balance sheet date. Debt fair values, as disclosed in Note 8—Long-Term Debt , are based on quoted market prices for identical instruments, if available, or based on valuations of similar debt instruments. Non-financial assets and liabilities initially measured at fair value include certain assets and liabilities acquired in a business combination, intangible assets and AROs.
Revenue Recognition, Policy	Revenue Recognition LNG regasification capacity reservation fees are recognized as revenue over the term of the respective TUAs. Advance capacity reservation fees are initially deferred and amortized over a 10 -year period as a reduction of a customer’s regasification capacity reservation fees payable under its TUA. For a discussion of revenue from related parties, please read Note 9—Related Party Transactions . Under each of these TUAs, we are entitled to retain 2% of LNG delivered for each customer’s account at our LNG terminal, which is recognized as revenue as we perform the services set forth in each customer’s TUA.
Cash and Cash Equivalents, Policy	Cash and Cash Equivalents We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents.
Restricted Cash, Policy	Restricted Cash Restricted cash consists of funds that are contractually restricted as to usage or withdrawal and have been presented separately from cash and cash equivalents on our Consolidated Balance Sheets. Amounts that are designated as restricted cash are contractually restricted as to usage or withdrawal and will not become available to us as cash and cash equivalents. For these amounts, we have presented increases and decreases separately from increases and decreases in cash and cash equivalents in our Consolidated Statements of Cash Flows. These amounts that represent non-cash transactions within our Consolidated Statements of Cash Flows present the effect of sources and uses of restricted cash as they relate to the changes to assets and liabilities in our Consolidated Balance Sheets. Restricted cash is presented on a gross basis within each of those categories so as to reconcile the change in non-cash activity that occurs on the balance sheet from period to period.
Inventory, Policy	Inventory Inventory is recorded at cost and is subject to lower of cost or market (“LCM”) adjustments at the end of each period. Inventory cost is determined using the average cost method. Our LCM adjustments primarily related to inventory purchased to maintain the cryogenic readiness of our LNG terminal that are recorded in operating and maintenance expense on our Consolidated Statements of Operations. Recoveries of losses resulting from interim period LCM adjustments are recorded when market price recoveries occur on the same inventory in the same fiscal year. These recoveries are recognized as gains in later interim periods with such gains not exceeding previously recognized losses.
Property, Plant and Equipment, Policy	Property, Plant and Equipment Property, plant and equipment are recorded at cost. Expenditures for construction activities, major renewals and betterments that extend the useful life of an asset are capitalized, while expenditures for maintenance and repairs and general and administrative activities are charged to expense as incurred. Interest costs incurred on debt obtained for the construction of property, plant and equipment are capitalized as construction-in-process over the construction period or related debt term, whichever is shorter. We depreciate our property, plant and equipment using the straight-line depreciation method. Upon retirement or other disposition of property, plant and equipment, the cost and related accumulated depreciation are removed from the account, and the resulting gains or losses are recorded in other operating costs and expenses. Management tests property, plant and equipment for impairment whenever events or changes in circumstances have indicated that the carrying amount of property, plant and equipment might not be recoverable. Assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of the cash flows of other groups of assets for purposes of assessing recoverability. Recoverability generally is determined by comparing the carrying value of the asset to the expected undiscounted future cash flows of the asset. If the carrying value of the asset is not recoverable, the amount of impairment loss is measured as the excess, if any, of the carrying value of the asset over its estimated fair value. We have recorded no impairments related to property, plant and equipment for 2015 , 2014 and 2013 .
Derivative Instruments, Policy	Derivative Instruments We use derivative instruments to hedge our exposure to cash flow variability from commodity price risk. Derivative instruments are recorded at fair value and included in our Consolidated Balance Sheets as assets or liabilities depending on the derivative position and the expected timing of settlement, unless they satisfy criteria for, and we elect, the normal purchases and sales exception. When we have the contractual right and intend to net settle, derivative assets and liabilities are reported on a net basis. Changes in the fair value of our derivative instruments are recorded in current earnings, unless we elect to apply hedge accounting and meet specified criteria, including completing contemporaneous hedge documentation. We did no t have any derivative instruments designated as cash flow hedges as of December 31, 2015 and 2014 . See Note 6—Derivative Instruments for additional details about our derivative instruments.
Concentration of Credit Risk, Policy	Concentration of Credit Risk Financial instruments that potentially subject us to a concentration of credit risk consist principally of cash and cash equivalents and restricted cash. We maintain cash balances at financial institutions, which may at times be in excess of federally insured levels. We have not incurred losses related to these balances to date. The use of derivative instruments exposes us to counterparty credit risk, or the risk that a counterparty will be unable to meet its commitments. Our commodity derivative transactions are executed through over-the-counter contracts which are subject to nominal credit risk as these transactions are settled on a daily margin basis with investment grade financial institutions. Collateral deposited for such contracts is recorded as an other current asset. We monitor counterparty creditworthiness on an ongoing basis; however, we cannot predict sudden changes in counterparties’ creditworthiness. In addition, even if such changes are not sudden, we may be limited in our ability to mitigate an increase in counterparty credit risk. Should one of these counterparties not perform, we may not realize the benefit of some of our derivative instruments. We have entered into two long-term TUAs with unaffiliated third parties for regasification capacity at our LNG terminal. We are dependent on the respective counterparties’ creditworthiness and their willingness to perform under their respective TUAs. SPLNG has mitigated this credit risk by securing TUAs for a significant portion of its regasification capacity with creditworthy third-party customers with a minimum Standard & Poor’s rating of AA.
Debt, Policy	Debt Our debt consists of current and long-term secured debt securities with banks and other lenders. Debt issuances are placed directly by us or through securities dealers or underwriters and are held by institutional and retail investors. Debt is recorded on our Balance Sheet at par value adjusted for unamortized discount or premium. Discounts, premiums and costs directly related to the issuance of debt are amortized over the life of the debt and are recorded in interest expense, net using the effective interest method. Gains and losses on the extinguishment of debt are recorded in gains and losses on the extinguishment of debt on our Consolidated Statements of Income. Debt issuance costs consist primarily of arrangement fees, professional fees, legal fees and printing costs. These costs are recorded as debt issuance costs on our Consolidated Balance Sheets and are being amortized to interest expense over the term of the related debt facility. Upon early retirement of debt or amendment to a debt agreement, certain fees are written off to loss on early extinguishment of debt.
Asset Retirement Obligations, Policy	Asset Retirement Obligations We recognize AROs for legal obligations associated with the retirement of long-lived assets that result from the acquisition, construction, development and/or normal use of the asset and for conditional AROs in which the timing or method of settlement are conditional on a future event that may or may not be within our control. The fair value of a liability for an ARO is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made. The fair value of the liability is added to the carrying amount of the associated asset. This additional carrying amount is depreciated over the estimated useful life of the asset. Our recognition of AROs is described below. Based on the real property lease agreements at our LNG terminal, at the expiration of the term of the leases, we are required to surrender the LNG terminal in good working order and repair, with normal wear and tear and casualty expected. Our property lease agreements at our LNG terminal have terms of up to 90 years including renewal options. We have determined that the cost to surrender our LNG terminal in good order and repair, with normal wear and tear and casualty expected, is zero . Therefore, we have not recorded an ARO associated with our LNG terminal.
Income Taxes, Policy	Income Taxes We are a disregarded entity for federal and state income tax purposes. Our taxable income or loss, which may vary substantially from the net income or loss reported on our Consolidated Statements of Operations, is able to be included in the federal income tax return of Cheniere Partners, a publicly traded partnership which indirectly owns us. Accordingly, no provision or liability for federal or state income taxes is included in the accompanying Consolidated Financial Statements. At December 31, 2015 , the tax basis of our assets and liabilities was $548.5 million less than the reported amounts of our assets and liabilities. Pursuant to the indentures governing our long-term debt (the “Senior Notes Indentures”), we are permitted to make distributions (“Tax Distributions”) for any fiscal year or portion thereof in which we are a limited partnership, disregarded entity or other substantially similar pass-through entity for federal and state income tax purposes. The permitted Tax Distributions are equal to the tax that we would owe if we were a corporation subject to federal and state income tax that filed separate federal and state income tax returns, excluding the amounts covered by the State Tax Sharing Agreement discussed in Note 9—Related Party Transactions . The Tax Distributions are limited to the amount of federal and/or state income taxes paid by Cheniere to the appropriate taxing authorities and are payable by us within 30 days of the date that Cheniere is required to make federal or state income tax payments to the appropriate taxing authorities.

Inventory (Tables)

Inventory (Tables)	12 Months Ended
Inventory (Tables)	Dec. 31, 2015
Inventory Disclosure [Abstract]
Schedule of Inventory	As of December 31, 2015 and 2014 , inventory consisted of the following (in thousands): December 31, 2015 2014 LNG $ 3,690 $ 1,987 Materials and other 5,956 2,970 Total inventory $ 9,646 $ 4,957

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
Property, Plant and Equipment (Tables)	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment consists of LNG terminal costs and fixed assets, as follows (in thousands): December 31, 2015 2014 LNG terminal costs LNG terminal $ 1,723,534 $ 1,643,018 LNG terminal construction-in-process 7,011 27 LNG site and related costs, net 135 142 Accumulated depreciation (295,793 ) (250,954 ) Total LNG terminal costs, net 1,434,887 1,392,233 Fixed assets Machinery and equipment 1,061 1,169 Computer and office equipment 424 424 Vehicles 676 654 Other 669 697 Accumulated depreciation (2,693 ) (2,734 ) Total fixed assets, net 137 210 Property, plant and equipment, net $ 1,435,024 $ 1,392,443
Property Plant and Equipment Estimated Useful Lives Table	The identifiable components of our LNG terminal with similar estimated useful lives have a depreciable range between 15 and 50 years, as follows: Components Useful life (yrs) LNG storage tanks 50 Marine berth, electrical, facility and roads 35 Regasification processing equipment (recondensers, vaporization and vents) 30 Sendout pumps 20 Others 15-30

Derivative Instruments (Tables)

Derivative Instruments (Tables)	12 Months Ended
Derivative Instruments (Tables)	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Derivative Assets and Liabilities	The following table (in thousands) shows the fair value of the derivative instruments that are required to be measured at fair value on a recurring basis as of December 31, 2015 and 2014 , which are classified as other current assets in our Consolidated Balance Sheets. Fair Value Measurements as of December 31, 2015 December 31, 2014 Quoted Prices in Active Markets Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Quoted Prices in Active Markets Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Natural Gas Derivatives asset $ — $ 10 $ — $ 10 $ — $ 145 $ — $ 145
Fair Value of Derivative Instruments by Balance Sheet Location	The following table (in thousands) shows the fair value and location of our Natural Gas Derivatives on our Consolidated Balance Sheets: Fair Value Measurements as of Balance Sheet Location December 31, 2015 December 31, 2014 Natural Gas Derivatives asset Other current assets $ 10 $ 145
Derivative Instruments, Gain (Loss)	The following table (in thousands) shows the changes in the fair value and settlements of our Natural Gas Derivatives recorded in operating and maintenance expense on our Consolidated Statements of Income during the years ended December 31, 2015, 2014 and 2013 : Year Ended December 31, 2015 2014 2013 Natural Gas Derivatives gain $ 223 $ 528 $ 182
Derivative Net Presentation on Consolidated Balance Sheets	The following table shows the fair value (in thousands) of our Natural Gas Derivatives outstanding on a gross and net basis: Gross Amounts Recognized Gross Amounts Offset in the Consolidated Balance Sheets Net Amounts Presented in the Consolidated Balance Sheets Offsetting Derivative Assets (Liabilities) As of December 31, 2015 Natural Gas Derivatives $ 36 $ (26 ) $ 10 As of December 31, 2014 Natural Gas Derivatives 147 (2 ) 145

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	12 Months Ended
Accrued Liabilities (Tables)	Dec. 31, 2015
Accrued Liabilities [Abstract]
Schedule of Accrued Liabilities	As of December 31, 2015 and 2014 , accrued liabilities consisted of the following (in thousands): December 31, 2015 2014 Interest expense $ 14,960 $ 14,959 LNG terminal costs 3,917 1,077 Total accrued liabilities $ 18,877 $ 16,036

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
Long-Term Debt (Tables)	Dec. 31, 2015
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Instruments	As of December 31, 2015 and 2014 , our long-term debt consisted of the following (in thousands): Interest December 31, Rate 2015 2014 Long-term debt 2016 Senior Notes 7.500% $ 1,665,500 $ 1,665,500 2020 Senior Notes 6.500% 420,000 420,000 Total long-term debt 2,085,500 2,085,500 Long-term debt discount 2016 Senior Notes (4,303 ) (8,998 ) Subtotal long-term debt, net 2,081,197 2,076,502 Less: current portion of long-term debt, net 1,661,197 — Total long-term debt, net $ 420,000 $ 2,076,502
Schedule of Maturities of Long-term Debt	Below is a schedule of future principal payments that we are obligated to make on our outstanding debt at December 31, 2015 (in thousands): Years Ending December 31, Principal Payments 2016 $ 1,665,500 2017 — 2018 — 2019 — 2020 420,000 Thereafter — Total $ 2,085,500
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	The following table shows the carrying amount and estimated fair value (in thousands) of our long-term debt: December 31, 2015 December 31, 2014 Carrying Amount Estimated Fair Value (1) Carrying Amount Estimated Fair Value (1) 2016 Senior Notes, net of discount $ 1,661,197 $ 1,652,891 $ 1,656,502 $ 1,718,621 2020 Senior Notes 420,000 403,200 420,000 428,400 (1) The Level 2 estimated fair value was based on quotations obtained from broker-dealers who make markets in these and similar instruments based on the closing trading prices on December 31, 2015 and 2014 , as applicable.

Leases (Tables)

Leases (Tables)	12 Months Ended
Leases (Tables)	Dec. 31, 2015
Leases [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	Future annual minimum lease payments, excluding inflationary adjustments, are as follows (in thousands): Year ending December 31, Operating Leases (1) 2016 $ 1,910 2017 1,511 2018 1,510 2019 1,510 2020 1,486 Thereafter (2) 20,811 Total minimum payments required $ 28,738 (1) Lease payments for our land leases do not take into account the $17.9 million sublease payments we will receive from SPL, as discussed in Note 9—Related Party Transactions . (2) Includes certain lease option renewals that are reasonably assured .

Supplemental Cash Flow Inform28

Supplemental Cash Flow Information (Tables)	12 Months Ended
Supplemental Cash Flow Information (Tables)	Dec. 31, 2015
Supplemental Cash Flow Information [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	The following table provides supplemental disclosure of cash flow information (in thousands): Year Ended December 31, 2015 2014 2013 Cash paid during the year for interest $ 152,213 $ 152,213 $ 153,350 Balance in property, plant and equipment, net funded with accounts payable and accrued liabilities (including affiliate) 1,645 — — Non-cash contributions for conveyance of assets under Cooperation Agreement 80,515 745 — Non-cash contributions from limited partner for certain operating activities 7,216 — —

Recent Accounting Standards (Ta

Recent Accounting Standards (Tables)	12 Months Ended
Recent Accounting Standards (Tables)	Dec. 31, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements, Not Yet Adopted	The following table provides a brief description of recent accounting standards that had not yet adopted by the Company as of December 31, 2015 : Standard Description Expected Date of Adoption Effect on our Consolidated Financial Statements or Other Significant Matters ASU 2014-09, Revenue from Contracts with Customers (Topic 606) The standard amends existing revenue recognition guidance and requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance may be early adopted beginning January 1, 2017, and may be adopted either retrospectively to each prior reporting period presented or as a cumulative-effect adjustment as of the date of adoption. January 1, 2018 We are currently evaluating the impact of the provisions of this guidance on our Consolidated Financial Statements and related disclosures. ASU 2014-15, Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern The standard requires an entity’s management to evaluate, for each reporting period, whether there are conditions and events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the financial statements are issued. Additional disclosures are required if management concludes that conditions or events raise substantial doubt about the entity’s ability to continue as a going concern. Early adoption is permitted. December 31, 2016 The adoption of this guidance is not expected to have an impact on our Consolidated Financial Statements or related disclosures. ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis This amendment primarily affects asset managers and reporting entities involved with limited partnerships or similar entities, but the analysis is relevant in the evaluation of any reporting organization’s requirement to consolidate a legal entity. This guidance changes (1) the identification of variable interests, (2) the variable interest entity characteristics for a limited partnership or similar entity and (3) the primary beneficiary determination. This guidance may be early adopted, and may be adopted either retrospectively to each prior reporting period presented or as a cumulative-effect adjustment as of the date of adoption. January 1, 2016 The adoption of this guidance is not expected to have an impact on our Consolidated Financial Statements or related disclosures. ASU 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs and ASU 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements This standard requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the debt liability rather than as an asset. Debt issuance costs incurred in connection with line of credit arrangements may be presented as an asset and subsequently amortized ratably over the term of the line of credit arrangement. This guidance may be early adopted, and must be adopted retrospectively to each prior reporting period presented. January 1, 2016 Upon adoption of this standard, the balance of debt, net will be reduced by the balance of debt issuance costs, net, except for the balance related to line of credit arrangements, on our Consolidated Balance Sheets. Additionally, disclosures will be required for a change in accounting principle. Standard Description Expected Date of Adoption Effect on our Consolidated Financial Statements or Other Significant Matters ASU 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory This standard requires inventory to be measured at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. This guidance may be early adopted and must be adopted prospectively. January 1, 2017 We are currently evaluating the impact of the provisions of this guidance on our Consolidated Financial Statements and related disclosures.

Summarized Quarterly Financia30

Summarized Quarterly Financial Data (unaudited) (Tables)	12 Months Ended
Summarized Quarterly Financial Data (unaudited) (Tables)	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	Summarized Quarterly Financial Data—(in thousands) First Quarter Second Quarter Third Quarter Fourth Quarter Year ended December 31, 2015: Revenues $ 130,846 $ 130,726 $ 130,819 $ 130,648 Income from operations 102,007 103,959 101,730 95,104 Net income 61,746 63,701 61,465 54,865 Year ended December 31, 2014: Revenues $ 130,734 $ 131,040 $ 131,001 $ 129,932 Income from operations 104,537 105,967 104,360 103,124 Net income 64,271 65,690 64,070 62,858

Organization and Nature of Op31

Organization and Nature of Operations (Details)	12 Months Ended
Organization and Nature of Operations (Details)	Dec. 31, 2015itembcf / dBcfem³
Sabine Pass LNG Terminal [Member]
Organization and Nature of Operations [Line Items]
Number Of LNG Storage Tanks	5
Storage Capacity \| Bcfe	16.9
Number Of Docks	2
Volume Of Vessel \| m³	266,000
Regasification Capacity \| bcf / d	4
Cheniere [Member] \| Cheniere Holdings [Member]
Organization and Nature of Operations [Line Items]
Noncontrolling interest, ownership percentage by Parent	80.10%
Cheniere Holdings [Member] \| Cheniere Partners [Member]
Organization and Nature of Operations [Line Items]
Limited Partners, ownership percentage	55.90%
Cheniere Partners [Member] \| Cheniere Investments [Member]
Organization and Nature of Operations [Line Items]
Limited Partners, ownership percentage	100.00%
Cheniere Investments [Member]
Organization and Nature of Operations [Line Items]
Limited Partners, ownership percentage	100.00%
Cheniere Investments [Member] \| Sabine Pass GP [Member]
Organization and Nature of Operations [Line Items]
Limited Partners, ownership percentage	100.00%
Cheniere Investments [Member] \| Sabine Pass LP [Member]
Organization and Nature of Operations [Line Items]
Limited Partners, ownership percentage	100.00%

Summary of Significant Accoun32

Summary of Significant Accounting Policies (Details)	12 Months Ended
Summary of Significant Accounting Policies (Details)	Dec. 31, 2015USD ($)item	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Advanced capacity reservation fees amortization period	10 years
Retained percentage of LNG delivered	2.00%
Impairments related to property, plant and equipment	$ 0	$ 0	$ 0
Number of fixed price contracts \| item	2
Provision for income taxes	$ 0
Taxes, Difference in Bases, Amount	548,500,000
Designated as Hedging Instrument [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Derivative instruments designated as cash flow hedges	0	$ 0
Sabine Pass LNG Terminal [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Asset Retirement Obligation	$ 0
Maximum [Member] \| Sabine Pass LNG Terminal [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Property Lease Term	90 years

Restricted Cash (Details)

Restricted Cash (Details) $ in Thousands	12 Months Ended
Restricted Cash (Details) $ in Thousands	Dec. 31, 2015USD ($)Rate	Dec. 31, 2014USD ($)
Restricted Cash Items [Line Items]
Current restricted cash	$ 77,415	$ 14,959
Non-current restricted cash	$ 13,650	76,106
Senior Notes [Member]
Restricted Cash Items [Line Items]
Debt instrument fixed charge coverage ratio \| Rate	2
2016 Senior Notes [Member]
Restricted Cash Items [Line Items]
Debt Instrument, Face Amount	$ 1,700,000
Debt Instrument, Interest Rate, Stated Percentage	7.50%
2020 Senior Notes [Member]
Restricted Cash Items [Line Items]
Debt Instrument, Face Amount	$ 400,000
Debt Instrument, Interest Rate, Stated Percentage	6.50%
Senior Notes Interest Payments [Member]
Restricted Cash Items [Line Items]
Current restricted cash	$ 77,400	15,000
Debt Service Reserve Fund [Member]
Restricted Cash Items [Line Items]
Non-current restricted cash	$ 13,700	$ 76,100

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Inventory [Line Items]
Total inventory	$ 9,646	$ 4,957
LNG [Member]
Inventory [Line Items]
Total inventory	3,690	1,987
Materials and other [Member]
Inventory [Line Items]
Total inventory	$ 5,956	$ 2,970

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net	$ 1,435,024	$ 1,392,443
LNG terminal costs [Member]
Property, Plant and Equipment [Line Items]
Accumulated depreciation	(295,793)	(250,954)
Property, plant and equipment, net	1,434,887	1,392,233
LNG terminal [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	1,723,534	1,643,018
LNG terminal construction-in-process [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	7,011	27
LNG site and related costs, net [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	135	142
Fixed assets [Member]
Property, Plant and Equipment [Line Items]
Accumulated depreciation	(2,693)	(2,734)
Property, plant and equipment, net	137	210
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	1,061	1,169
Computer and Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	424	424
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	676	654
Other [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 669	$ 697

Property, Plant and Equipment36

Property, Plant and Equipment (Details)	12 Months Ended
Property, Plant and Equipment (Details)	Dec. 31, 2015
LNG terminal costs [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	15 years
LNG terminal costs [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	50 years
LNG storage tanks [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	50 years
Marine berth, electrical, facility and roads [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	35 years
Regasification processing equipment (recondensers, vaporization and vents) [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	30 years
Sendout pumps [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	20 years
Other [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	15 years
Other [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	30 years

Derivative Instruments - Fair V

Derivative Instruments - Fair Value of Derivative Assets and Liabilities (Details) - Natural Gas Derivatives [Member] - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Natural Gas Derivatives asset	$ 10	$ 145
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Natural Gas Derivatives asset	0	0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Natural Gas Derivatives asset	10	145
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Natural Gas Derivatives asset	$ 0	$ 0

Derivative Instruments - Fair38

Derivative Instruments - Fair Value by Balance Sheet Location (Details) - Natural Gas Derivatives [Member] - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Natural Gas Derivatives asset	$ 10	$ 145
Other current assets [Member]
Derivatives, Fair Value [Line Items]
Natural Gas Derivatives asset	10	145
Derivative, Collateral Call, Right to Reclaim Cash	$ 0	$ 132

Derivative Instruments - Deriva

Derivative Instruments - Derivative Instruments Gain (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Natural Gas Derivatives [Member] \| Operating and maintenance expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Natural Gas Derivatives gain	$ 223	$ 528	$ 182

Derivative Instruments - Deri40

Derivative Instruments - Derivatives Net Presentation on Consolidated Balance Sheets (Details) - Natural Gas Derivatives Asset [Member] - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Derivative [Line Items]
Natural Gas Derivatives Asset, Gross Amounts Recognized	$ 36	$ 147
Natural Gas Derivatives Asset Gross Amounts Offset in the Consolidated Balance Sheets	(26)	(2)
Net Amounts Presented in the Consolidated Balance Sheets	$ 10	$ 145

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Accrued Liabilities [Abstract]
Interest expense	$ 14,960	$ 14,959
LNG terminal costs	3,917	1,077
Total accrued liabilities	$ 18,877	$ 16,036

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt Instruments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Debt, Long-term and Short-term, Combined Amount [Abstract]
Current debt, net	$ 1,661,197,000	$ 0
Long-term Debt, Gross	2,085,500,000	2,085,500,000
Total long-term debt, net of discount	2,081,197,000	2,076,502,000
Long-term Debt, Current Maturities	1,661,197,000	0
Total Long-Term Debt, Net	$ 420,000,000	2,076,502,000
Senior Notes [Member]
Debt, Long-term and Short-term, Combined Amount [Abstract]
Debt Instrument, Redemption Price, Percentage	100.00%
Percentage of debt principal additional for redemption	1.00%
Discount rate over Treasury Rate to calculate fair value ratio of redemption price	0.50%
2016 Senior Notes [Member]
Debt, Long-term and Short-term, Combined Amount [Abstract]
Debt Instrument, Interest Rate, Stated Percentage	7.50%
Current debt, net	$ 1,665,500,000
Long-term Debt, Gross		1,665,500,000
Debt Discount	$ (4,303,000)	(8,998,000)
2020 Senior Notes [Member]
Debt, Long-term and Short-term, Combined Amount [Abstract]
Debt Instrument, Interest Rate, Stated Percentage	6.50%
Long-term Debt, Gross	$ 420,000,000	$ 420,000,000

Long-Term Debt - Schedule of Ma

Long-Term Debt - Schedule of Maturities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Long-term Debt, Fiscal Year Maturity [Abstract]
2,016	$ 1,665,500
2,017	0
2,018	0
2,019	0
2,020	420,000
Thereafter	0
Total	2,085,500
Distributions to limited partner	$ 337,320	$ 346,901	$ 348,938

Long-Term Debt - Schedule of Ca

Long-Term Debt - Schedule of Carrying Values and Estimated Fair Value (Details) - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014
2016 Senior Notes, net of discount [Member] \| Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount, Debt		$ 1,661,197	$ 1,656,502
2016 Senior Notes, net of discount [Member] \| Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable, Fair Value Disclosure	[1]	1,652,891	1,718,621
2020 Senior Notes [Member] \| Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount, Debt		420,000	420,000
2020 Senior Notes [Member] \| Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable, Fair Value Disclosure	[1]	$ 403,200	$ 428,400

[1]	The Level 2 estimated fair value was based on quotations obtained from broker-dealers who make markets in these and similar instruments based on the closing trading prices on December 31, 2015 and 2014, as applicable.

Related Party Transactions - Na

Related Party Transactions - Narrative (Details)	12 Months Ended
Related Party Transactions - Narrative (Details)	Dec. 31, 2015USD ($)capacity / d	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Related Party Transaction [Line Items]
Advances to affiliate	$ 7,154,000	$ 1,868,000
General and administrative expense—affiliate	14,182,000	12,499,000	$ 13,264,000
Operating and maintenance expense—affiliate	22,792,000	16,830,000	25,172,000
Revenues—affiliates	$ 257,402,000	256,760,000	256,399,000
LNG Terminal Capacity Agreements [Member] \| SPL [Member]
Related Party Transaction [Line Items]
Regasification Capacity \| capacity / d	2
Related Party Transaction, Committed Annual Fee	$ 250,000,000
Related Party Agreement Term	20 years
LNG Terminal Capacity Agreements [Member] \| SPL [Member] \| Maximum [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Percentage Of Committed Monthly Payment	100.00%
LNG Terminal Capacity Agreements [Member] \| SPL [Member] \| Minimum [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Percentage Of Committed Monthly Payment	0.00%
Service Agreements [Member]
Related Party Transaction [Line Items]
Advances to affiliate	$ 7,200,000	1,900,000
General and administrative expense—affiliate	14,200,000	12,500,000	13,300,000
Operating and maintenance expense—affiliate	23,500,000	17,300,000	25,200,000
Operation and Maintenance Agreement [Member] \| Cheniere Investments [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Committed Monthly Fee	$ 130,000
Related Party Transaction, Bonus Percentage of Salary of Salary Entitled Upon Meeting Certain Criteria	50.00%
Management Services Agreement [Member] \| Cheniere Terminals [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Committed Monthly Fee	$ 520,000
Cooperative Endeavor Agreements [Member]
Related Party Transaction [Line Items]
Tax Initiative Agreement Term	10 years
Cooperative Endeavor Agreements [Member] \| Maximum [Member]
Related Party Transaction [Line Items]
Aggregate commitment under the Agreement	$ 25,000,000
Cooperative Endeavor Agreements [Member] \| Cheniere Marketing [Member]
Related Party Transaction [Line Items]
Advance ad valorem tax payments	22,100,000	19,600,000
Contracts for Sale and Purchase of Natural Gas [Member] \| Cheniere Marketing [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Purchases from Related Party	5,000,000	3,300,000	3,300,000
Revenues—affiliates	11,700,000	700,000	14,700,000
LNG Site Sublease Agreement [Member] \| SPL [Member]
Related Party Transaction [Line Items]
Annual sublease income	$ 1,000,000	500,000
Lessee Leasing Arrangements, Operating Leases, Renewal Term	10 years
Review Period for Inflation Adjustment	5 years
Revenues—affiliates	$ 700,000	500,000	500,000
LNG Terminal Export Agreement [Member] \| Cheniere Marketing [Member]
Related Party Transaction [Line Items]
Revenues—affiliates	0	0	0
Cooperation Agreement [Member] \| SPL [Member]
Related Party Transaction [Line Items]
Assets conveyed under the agreement	80,500,000	700,000	0
Tax Sharing Agreement [Member] \| Cheniere [Member]
Related Party Transaction [Line Items]
Income Taxes Paid, Net	0
Tug Services [Member] \| Tug Boat Lease Sharing Agreement [Member] \| Wholly owned subsidiary of Cheniere [Member]
Related Party Transaction [Line Items]
Revenues—affiliates	$ 2,800,000	$ 2,800,000	$ 2,800,000

Leases (Details)

Leases (Details) - USD ($) $ in Thousands		12 Months Ended
Leases (Details) - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating Leased Assets [Line Items]
Operating Leases, Rent Expense		$ 9,000	$ 9,200	$ 8,800
2016, Minimum Payments	[1]	1,910
2017, Minimum Payments	[1]	1,511
2018, Minimum Payments	[1]	1,510
2019, Minimum Payments	[1]	1,510
2020, Minimum Payments	[1]	1,486
Thereafter, Minimum Payments	[1],[2]	20,811
Total, Minimum Payments	[1]	$ 28,738
SPL [Member] \| LNG Site Sublease Agreement [Member]
Operating Leased Assets [Line Items]
Renewal Term of Lease		10 years
Operating Leases, Future Minimum Payments Due, Future Minimum Sublease Rentals		$ 17,900
Land [Member] \| Maximum [Member]
Operating Leased Assets [Line Items]
Initial Term of Lease		30 years
Renewal Term of Lease		60 years

[1]	Lease payments for our land leases do not take into account the $17.9 million sublease payments we will receive from SPL, as discussed in Note 9—Related Party Transactions.
[2]	Includes certain lease option renewals that are reasonably assured.

Commitments and Contingencies (

Commitments and Contingencies (Details)	Dec. 31, 2015item
Commitments and Contingencies Disclosure [Abstract]
Loss Contingency, Pending Claims, Number	0

Supplemental Cash Flow Inform48

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Supplemental Cash Flow Information [Abstract]
Cash paid during the year for interest	$ 152,213	$ 152,213	$ 153,350
Balance in property, plant and equipment, net funded with accounts payable and accrued liabilities (including affiliate)	1,645	0	0
Non-cash contributions for conveyance of assets under Cooperation Agreement	80,515	745	0
Non-cash contributions from limited partner for certain operating activities	$ 7,216	$ 0	$ 0

Subsequent Events (Details)

Subsequent Events (Details)	Jan. 31, 2016USD ($)item	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Subsequent Event [Line Items]
Current debt		$ 1,661,197,000	$ 0
Long-term Debt, Gross		2,085,500,000	2,085,500,000
2016 Senior Notes [Member]
Subsequent Event [Line Items]
Current debt		1,665,500,000
Long-term Debt, Gross			1,665,500,000
2020 Senior Notes [Member]
Subsequent Event [Line Items]
Long-term Debt, Gross		$ 420,000,000	$ 420,000,000
Subsequent Event [Member] \| Proposed Senior Credit Facility [Member]
Subsequent Event [Line Items]
Line of Credit Facility, Number Of Financial Institutions Engaged \| item	13
Line of Credit Facility, Maximum Borrowing Capacity	$ 2,800,000,000

Summarized Quarterly Financia50

Summarized Quarterly Financial Data (unaudited) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 130,648	$ 130,819	$ 130,726	$ 130,846	$ 129,932	$ 131,001	$ 131,040	$ 130,734	$ 523,039	$ 522,707	$ 521,552
Income from operations	95,104	101,730	103,959	102,007	103,124	104,360	105,967	104,537	402,800	417,988	405,286
Net income	$ 54,865	$ 61,465	$ 63,701	$ 61,746	$ 62,858	$ 64,070	$ 65,690	$ 64,271	$ 241,777	$ 256,889	$ 244,293