Cheniere Energy Partners (CQP) 10-Q 30 Oct 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Oct. 25, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-33366
Entity Registrant Name	Cheniere Energy Partners, L.P.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-5913059
Entity Address, Address Line One	845 Texas Avenue
Entity Address, Address Line Two	Suite 1250
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77002
City Area Code	713
Local Phone Number	375-5000
Title of 12(b) Security	Common Units Representing Limited Partner Interests
Trading Symbol	CQP
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Units, Units Outstanding		484,046,623
Entity Central Index Key	0001383650
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues
Revenues		$ 2,055	$ 2,128	$ 6,244	$ 6,978
Operating costs and expenses
Cost of sales		773	684	2,402	1,618
Operating and maintenance expense		256	263	777	844
General and administrative expense		25	22	76	74
Depreciation and amortization expense		171	166	509	500
Other operating costs and expenses		3	5	12	7
Total operating costs and expenses		1,228	1,140	3,776	3,043
Income from operations		827	988	2,468	3,935
Other income (expense)
Interest expense, net of capitalized interest		(199)	(205)	(603)	(620)
Loss on modification or extinguishment of debt		0	(4)	(3)	(6)
Interest and dividend income		7	12	25	39
Total other expense		(192)	(197)	(581)	(587)
Net income		$ 635	$ 791	$ 1,887	$ 3,348
Basic and diluted net income per common unit	[1]	$ 1.08	$ 1.19	$ 3.21	$ 5.53
Weighted average basic and diluted number of common units outstanding		484	484	484	484
Nonrelated Party [Member]
Operating costs and expenses
Cost of sales		$ 773	$ 682	$ 2,398	$ 1,598
Operating and maintenance expense		200	211	610	680
General and administrative expense		2	2	8	8
Other operating costs and expenses		2	4	10	6
Affiliate [Member]
Operating costs and expenses
Cost of sales		0	2	4	20
Operating and maintenance expense		41	38	123	120
General and administrative expense		23	20	68	66
Other operating costs and expenses		1	1	2	1
Related Party [Member]
Operating costs and expenses
Operating and maintenance expense		15	14	44	44
LNG [Member]
Revenues
Revenues		2,005	2,079	6,094	6,830
LNG [Member] | Nonrelated Party [Member]
Revenues
Revenues		1,479	1,564	4,653	5,085
LNG [Member] | Affiliate [Member]
Revenues
Revenues		526	515	1,441	1,745
Regasification [Member]
Revenues
Revenues		34	34	102	101
Other [Member]
Revenues
Revenues		$ 16	$ 15	$ 48	$ 47
[1] In computing basic and diluted net income per common unit, net income is reduced by the amount of undistributed net income allocated to participating securities other than common units, as required under the two-class method. See Note 11—Net Income per Common Unit .

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents		$ 331	$ 575
Restricted cash and cash equivalents		80	56
Trade and other receivables, net of current expected credit losses		239	373
Trade receivables—affiliate		199	278
Advances to affiliate		82	84
Inventory		135	142
Current derivative assets	[1]	50	30
Prepaid expenses		53	42
Other current assets, net		17	1
Total current assets		1,186	1,581
Property, plant and equipment, net of accumulated depreciation		15,868	16,212
Operating lease assets		79	81
Derivative assets	[1]	64	40
Other non-current assets, net		$ 188	$ 188
Accounts Receivable, after Allowance for Credit Loss, Current, Related and Nonrelated Party Status [Extensible Enumeration]		Affiliated Entity [Member]	Affiliated Entity [Member]
Other Receivable, after Allowance for Credit Loss, Current, Related and Nonrelated Party Status [Extensible Enumeration]		Affiliated Entity [Member]	Affiliated Entity [Member]
Total assets		$ 17,385	$ 18,102
Current liabilities
Accounts payable		51	69
Accrued liabilities		611	866
Current debt, net of unamortized discount and debt issuance costs		700	300
Deferred revenue		137	117
Current derivative liabilities	[1]	222	196
Other current liabilities		8	18
Total current liabilities		1,729	1,566
Long-term debt, net of unamortized discount and debt issuance costs		14,756	15,606
Operating lease liabilities		77	71
Finance lease liabilities		69	14
Derivative liabilities	[1]	1,256	1,531
Other non-current liabilities		124	98
Total liabilities		18,011	18,886
Partners’ deficit
Common unitholders’ interest (484.0 million units issued and outstanding at both September 30, 2024 and December 31, 2023)		1,602	1,038
General partner’s interest (2% interest with 9.9 million units issued and outstanding at both September 30, 2024 and December 31, 2023)		(2,228)	(1,822)
Total partners’ deficit		(626)	(784)
Total liabilities and partners’ deficit		17,385	18,102
Nonrelated Party [Member]
Current assets
Other current assets, net		17	1
Current liabilities
Accrued liabilities		564	806
Deferred revenue		136	114
Other non-current liabilities		101	75
Affiliate [Member]
Current assets
Other current assets, net		0	0
Current liabilities
Accrued liabilities		42	55
Deferred revenue		1	3
Other non-current liabilities		23	23
Related Party [Member]
Current liabilities
Accrued liabilities		$ 5	$ 5
[1] Does not include collateral posted with counterparties by us of $12 million and zero as of September 30, 2024 and December 31, 2023, respectively, which is included in other current assets, net on our Consolidated Balance Sheets, and collateral posted by counterparties to us of zero and $4 million as of September 30, 2024 and December 31, 2023, respectively, which is included in other current liabilities on our Consolidated Balance Sheets.

Consolidated Balance Sheets Par

Consolidated Balance Sheets Parentheticals - shares shares in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Cheniere Partners [Member]
General Partner Ownership Interest Percentage	2%	2%
Common Units [Member]
Limited Partners' Capital Account, Units Outstanding	484	484	484	484	484	484	484	484
General Partner [Member]
General Partners' Capital Account, Units Outstanding	9.9	9.9	9.9	9.9	9.9	9.9	9.9	9.9

Consolidated Statements of Part

Consolidated Statements of Partners' Equity - USD ($) shares in Millions, $ in Millions	Total	Common Units [Member]	General Partner [Member]
Units, Outstanding, beginning of period at Dec. 31, 2022		484
Partners' equity, beginning of period at Dec. 31, 2022	$ (2,131)	$ (1,118)	$ (1,013)
General partner units, Outstanding, beginning of period at Dec. 31, 2022			9.9
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income	1,935	1,897	$ 38
Distributions		$ (518)	(236)
Units, Outstanding, end of period at Mar. 31, 2023		484
Partners' equity, end of period at Mar. 31, 2023	(950)	$ 261	$ (1,211)
General partner units, Outstanding, end of period at Mar. 31, 2023			9.9
Increase (Decrease) in Partners' Capital [Roll Forward]
Distributions Paid, Per Unit		$ 1.070
Units, Outstanding, beginning of period at Dec. 31, 2022		484
Partners' equity, beginning of period at Dec. 31, 2022	(2,131)	$ (1,118)	$ (1,013)
General partner units, Outstanding, beginning of period at Dec. 31, 2022			9.9
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income	3,348
Units, Outstanding, end of period at Sep. 30, 2023		484
Partners' equity, end of period at Sep. 30, 2023	(973)	$ 647	$ (1,620)
General partner units, Outstanding, end of period at Sep. 30, 2023			9.9
Units, Outstanding, beginning of period at Mar. 31, 2023		484
Partners' equity, beginning of period at Mar. 31, 2023	(950)	$ 261	$ (1,211)
General partner units, Outstanding, beginning of period at Mar. 31, 2023			9.9
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income	622	610	$ 12
Distributions		$ (499)	(219)
Units, Outstanding, end of period at Jun. 30, 2023		484
Partners' equity, end of period at Jun. 30, 2023	(1,046)	$ 372	$ (1,418)
General partner units, Outstanding, end of period at Jun. 30, 2023			9.9
Increase (Decrease) in Partners' Capital [Roll Forward]
Distributions Paid, Per Unit		$ 1.03
Net income	791	$ 774	$ 17
Distributions		$ (499)	(219)
Units, Outstanding, end of period at Sep. 30, 2023		484
Partners' equity, end of period at Sep. 30, 2023	(973)	$ 647	$ (1,620)
General partner units, Outstanding, end of period at Sep. 30, 2023			9.9
Increase (Decrease) in Partners' Capital [Roll Forward]
Distributions Paid, Per Unit		$ 1.03
Units, Outstanding, beginning of period at Dec. 31, 2023		484
Partners' equity, beginning of period at Dec. 31, 2023	(784)	$ 1,038	$ (1,822)
General partner units, Outstanding, beginning of period at Dec. 31, 2023			9.9
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income	682	668	$ 14
Distributions		$ (501)	(219)
Units, Outstanding, end of period at Mar. 31, 2024		484
Partners' equity, end of period at Mar. 31, 2024	(822)	$ 1,205	$ (2,027)
General partner units, Outstanding, end of period at Mar. 31, 2024			9.9
Increase (Decrease) in Partners' Capital [Roll Forward]
Distributions Paid, Per Unit		$ 1.035
Units, Outstanding, beginning of period at Dec. 31, 2023		484
Partners' equity, beginning of period at Dec. 31, 2023	(784)	$ 1,038	$ (1,822)
General partner units, Outstanding, beginning of period at Dec. 31, 2023			9.9
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income	1,887
Units, Outstanding, end of period at Sep. 30, 2024		484
Partners' equity, end of period at Sep. 30, 2024	(626)	$ 1,602	$ (2,228)
General partner units, Outstanding, end of period at Sep. 30, 2024			9.9
Units, Outstanding, beginning of period at Mar. 31, 2024		484
Partners' equity, beginning of period at Mar. 31, 2024	(822)	$ 1,205	$ (2,027)
General partner units, Outstanding, beginning of period at Mar. 31, 2024			9.9
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income	570	559	$ 11
Distributions		$ (392)	(112)
Units, Outstanding, end of period at Jun. 30, 2024		484
Partners' equity, end of period at Jun. 30, 2024	(756)	$ 1,372	$ (2,128)
General partner units, Outstanding, end of period at Jun. 30, 2024			9.9
Increase (Decrease) in Partners' Capital [Roll Forward]
Distributions Paid, Per Unit		$ 0.810
Net income	635	$ 622	$ 13
Distributions		$ (392)	(113)
Units, Outstanding, end of period at Sep. 30, 2024		484
Partners' equity, end of period at Sep. 30, 2024	$ (626)	$ 1,602	$ (2,228)
General partner units, Outstanding, end of period at Sep. 30, 2024			9.9
Increase (Decrease) in Partners' Capital [Roll Forward]
Distributions Paid, Per Unit		$ 0.810

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net income	$ 1,887	$ 3,348
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	509	500
Amortization of discount and debt issuance costs	20	22
Loss on modification or extinguishment of debt	3	6
Total gains on derivative instruments, net	(316)	(1,867)
Net cash provided by settlement of derivative instruments	23	6
Other	13	16
Changes in operating assets and liabilities:
Trade and other receivables	134	340
Trade receivables—affiliate	79	384
Inventory	6	30
Accounts payable and accrued liabilities	(259)	(662)
Accrued liabilities—related party	0	(2)
Total deferred revenue	47	59
Other, net	(41)	14
Other, net—affiliate	(13)	(1)
Net cash provided by operating activities	2,092	2,193
Cash flows from investing activities
Property, plant and equipment, net	(105)	(170)
Other	(7)	(6)
Net cash used in investing activities	(112)	(176)
Cash flows from financing activities
Proceeds from issuances of debt	1,228	1,397
Redemptions and repayments of debt	(1,680)	(1,650)
Debt issuance and other financing costs	(15)	(32)
Distributions	(1,729)	(2,190)
Other	(4)	(4)
Net cash used in financing activities	(2,200)	(2,479)
Net decrease in cash, cash equivalents and restricted cash and cash equivalents	(220)	(462)
Cash, Cash Equivalents—beginning of period	631	996
Cash, Cash Equivalents—end of period	$ 411	$ 534

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Basis of Presentation	NATURE OF OPERATIONS AND BASIS OF PRESENTATION We own a natural gas liquefaction and export facility located in Cameron Parish, Louisiana at Sabine Pass (the “Sabine Pass LNG Terminal” ) which has six operational Trains, for a total production capacity of approximately 30 mtpa of LNG (the “Liquefaction Project” ). The Sabine Pass LNG Terminal also has operational regasification facilities that include five LNG storage tanks, vaporizers and three marine berths. Additionally, the Sabine Pass LNG Terminal includes a 94-mile natural gas supply pipeline that interconnects the Sabine Pass LNG Terminal with several large interstate and intrastate pipelines (the “Creole Trail Pipeline” ). We are pursuing an expansion project to provide additional liquefaction capacity, and we have commenced commercialization to support the additional liquefaction capacity associated with this potential expansion project. The development of this site or other projects, including infrastructure projects in support of natural gas supply and LNG demand, will require, among other things, acceptable commercial and financing arrangements before we make a positive FID. We do not have employees and thus we and our subsidiaries have various services agreements with affiliates of Cheniere in the ordinary course of business, including services required to construct, operate and maintain the Liquefaction Project, and administrative services. See Note 10—Related Party Transactions for additional details of the activity under these services agreements during the three and nine months ended September 30, 2024 and 2023. As of September 30, 2024, Cheniere owned 48.6% of our limited partner interest in the form of 239.9 million of our common units. Cheniere also owns 100% of our general partner interest and our incentive distribution rights ( “IDRs” ). Basis of Presentation The accompanying unaudited Consolidated Financial Statements of CQP have been prepared in accordance with GAAP for interim financial information and in accordance with Rule 10-01 of Regulation S-X and reflect all normal recurring adjustments which are, in the opinion of management, necessary for a fair statement of the financial results for the interim periods presented. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the Consolidated Financial Statements and accompanying notes included in our annual report on Form 10-K for the fiscal year ended December 31, 2023 . Results of operations for the three and nine months ended September 30, 2024 are not necessarily indicative of the results of operations that will be realized for the year ending December 31, 2024. We are not subject to either federal or state income tax, as our partners are taxed individually on their allocable share of our taxable income. Recent Accounting Standards ASU 2023-07 In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280) . This guidance requires a public entity, including entities with a single reportable segment, to disclose significant segment expenses and other segment items on an annual and interim basis and provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. We plan to adopt this guidance and conform with the applicable disclosures retrospectively when it becomes mandatorily effective for our annual report for the year ending December 31, 2024.

Unitholders' Equity

Unitholders' Equity	9 Months Ended
	Sep. 30, 2024
Partners' Capital Notes [Abstract]
Unitholders' Equity	UNITHOLDERS’ EQUITY The common units represent limited partner interests in us, which entitle the unitholders to participate in partnership distributions and exercise the rights and privileges available to limited partners under our partnership agreement. Although common unitholders are not obligated to fund losses of the Partnership, their capital account, which would be considered in allocating the net assets of the Partnership were it to be liquidated, continues to share in losses. The general partner interest is entitled to at least 2% of all distributions made by us. In addition, the general partner holds IDRs, which allow the general partner to receive a higher percentage of quarterly distributions of available cash from operating surplus as additional target levels are met, but may transfer these rights separately from its general partner interest. The higher percentages range from 15% to 50%, inclusive of the general partner interest. Our partnership agreement requires that, within 45 days after the end of each quarter, we distribute all of our available cash, which, as defined in our partnership agreement, is generally our cash on hand at the end of a quarter less the amount of any reserves established by our general partner. All distributions we have paid to date have been made from accumulated operating surplus as defined in the partnership agreement. As of September 30, 2024, our total securities beneficially owned in the form of common units were held 48.6% by Cheniere, 41.5% by CQP Target Holdco L.L.C. ( “CQP Target Holdco” ) and other affiliates of Blackstone Inc. ( “Blackstone” ) and Brookfield Asset Management Inc. ( “Brookfield” ) and 7.9% by the public. All of our 2% general partner interest was held by Cheniere. CQP Target Holdco’s equity interests are 50.0% owned by BIP Chinook Holdco L.L.C., an affiliate of Blackstone, and 50.0% owned by BIF IV Cypress Aggregator (Delaware) LLC, an affiliate of Brookfield. The ownership of CQP Target Holdco, Blackstone and Brookfield are based on their most recent filings with the SEC.

Trade and Other Receivables, Ne

Trade and Other Receivables, Net of Current Expected Credit Losses	9 Months Ended
	Sep. 30, 2024
Receivables [Abstract]
Trade and Other Receivables, Net of Current Expected Credit Losses	TRADE AND OTHER RECEIVABLES, NET OF CURRENT EXPECTED CREDIT LOSSES Trade and other receivables, net of current expected credit losses, consisted of the following (in millions): September 30, December 31, 2024 2023 Trade receivables $ 233 $ 364 Other receivables 6 9 Total trade and other receivables, net of current expected credit losses $ 239 $ 373

Inventory

Inventory	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventory	INVENTORY Inventory consisted of the following (in millions): September 30, December 31, 2024 2023 Materials $ 113 $ 107 Natural gas 14 22 LNG 7 12 Other 1 1 Total inventory $ 135 $ 142

Property, Plant and Equipment,

Property, Plant and Equipment, Net of Accumulated Depreciation	9 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net of Accumulated Depreciation	PROPERTY, PLANT AND EQUIPMENT, NET OF ACCUMULATED DEPRECIATION Property, plant and equipment, net of accumulated depreciation consisted of the following (in millions): September 30, December 31, 2024 2023 LNG terminal Terminal and interconnecting pipeline facilities $ 20,250 $ 20,176 Construction-in-process 211 189 Accumulated depreciation (4,669) (4,173) Total LNG terminal, net of accumulated depreciation 15,792 16,192 Fixed assets Fixed assets 32 29 Accumulated depreciation (27) (26) Total fixed assets, net of accumulated depreciation 5 3 Assets under finance leases Tug vessels 74 23 Accumulated depreciation (3) (6) Total assets under finance leases, net of accumulated depreciation 71 17 Property, plant and equipment, net of accumulated depreciation $ 15,868 $ 16,212

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	DERIVATIVE INSTRUMENTS We have commodity derivatives consisting of natural gas supply contracts, including those under our IPM agreements, for the operation of the Liquefaction Project and expansion project, as well as the associated economic hedges (collectively, the “Liquefaction Supply Derivatives” ). We recognize our derivative instruments as either assets or liabilities and measure those instruments at fair value. None of our derivative instruments are designated as cash flow, fair value or net investment hedging instruments, and changes in fair value are recorded within our Consolidated Statements of Operations to the extent not utilized for the commissioning process, in which case such changes are capitalized. The following table shows the fair value of our derivative instruments that are required to be measured at fair value on a recurring basis, distinguished by the fair value hierarchy levels prescribed by GAAP (in millions): Fair Value Measurements as of September 30, 2024 December 31, 2023 Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Total Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Total Liquefaction Supply Derivatives asset (liability) $ 5 $ 7 $ (1,376) $ (1,364) $ 18 $ 1 $ (1,676) $ (1,657) We value the Liquefaction Supply Derivatives using a market or option-based approach incorporating present value techniques, as needed, which incorporates observable commodity price curves, when available, and other relevant data. We include a significant portion of the Liquefaction Supply Derivatives as Level 3 within the valuation hierarchy as the fair value is developed through the use of internal models which incorporate significant unobservable inputs. In instances where observable data is unavailable, consideration is given to the assumptions that market participants may use in valuing the asset or liability. To the extent valued using an option pricing model, we consider the future prices of energy units for unobservable periods to be a significant unobservable input to estimated net fair value. In estimating the future prices of energy units, we make judgments about market risk related to liquidity of commodity indices and volatility utilizing available market data. Changes in facts and circumstances or additional information may result in revised estimates and judgments, and actual results may differ from these estimates and judgments. We derive our volatility assumptions based on observed historical settled global LNG market pricing or accepted proxies for global LNG market pricing as well as settled domestic natural gas pricing. Such volatility assumptions also contemplate, as of the balance sheet date, observable forward curve data of such indices, as well as evolving available industry data and independent studies. In developing our volatility assumptions, we acknowledge that the global LNG industry is inherently influenced by events such as unplanned supply constraints, geopolitical incidents, unusual climate events including drought and uncommonly mild, by historical standards, winters and summers, and real or threatened disruptive operational impacts to global energy infrastructure. Our current estimate of volatility includes the impact of otherwise rare events unless we believe market participants would exclude such events on account of their assertion that those events were specific to our company and deemed within our control. Our fair value estimates incorporate market participant-based assumptions pertaining to certain contractual uncertainties, including those related to the availability of market information for delivery points, as well as the timing of satisfaction of certain events or development of infrastructure to support natural gas gathering and transport. We may recognize changes in fair value through earnings that could significantly impact our results of operations if and when such uncertainties are resolved. The Level 3 fair value measurements of our natural gas positions within the Liquefaction Supply Derivatives could be materially impacted by a significant change in certain natural gas and international LNG prices. The following table includes quantitative information for the unobservable inputs for the Level 3 Liquefaction Supply Derivatives as of September 30, 2024: Net Fair Value Liability (in millions) Valuation Approach Significant Unobservable Input Range of Significant Unobservable Inputs / Weighted Average (1) Liquefaction Supply Derivatives $(1,376) Market approach incorporating present value techniques Henry Hub basis spread $(0.700) - $0.481 / $0.036 Option pricing model International LNG pricing spread, relative to Henry Hub (2) 70% - 411% / 185% (1) Unobservable inputs were weighted by the relative fair value of the instruments. (2) Spread contemplates U.S. dollar-denominated pricing. Increases or decreases in basis or pricing spreads, in isolation, would decrease or increase, respectively, the fair value of the Liquefaction Supply Derivatives. The following table shows the changes in the fair value of the Level 3 Liquefaction Supply Derivatives (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Balance, beginning of period $ (1,495) $ (2,255) $ (1,676) $ (3,719) Realized and change in fair value gains included in net income (1): Included in cost of sales, existing deals (2) 46 294 163 1,275 Included in cost of sales, new deals (3) 2 8 17 23 Purchases and settlements: Purchases (4) — — — — Settlements (5) 69 59 119 522 Transfers out of level 3 (6) 2 2 1 7 Balance, end of period $ (1,376) $ (1,892) $ (1,376) $ (1,892) Favorable changes in fair value relating to instruments still held at the end of the period $ 48 $ 302 $ 180 $ 1,298 (1) Does not include the realized value associated with derivative instruments that settle through physical delivery, as settlement is equal to the contractually fixed price from trade date multiplied by contractual volume. See settlements line item in this table. (2) Impact to earnings on deals that existed at the beginning of the period and continue to exist at the end of the period. (3) Impact to earnings on deals that were entered into during the reporting period and continue to exist at the end of the period. (4) Includes any day one gain (loss) recognized during the reporting period on deals that were entered into during the reporting period which continue to exist at the end of the period. (5) Roll-off in the current period of amounts recognized in our Consolidated Balance Sheets at the end of the previous period due to settlement of the underlying instruments in the current period. (6) Transferred out of Level 3 as a result of observable market for the underlying natural gas purchase agreements. Liquefaction Supply Derivatives We hold Liquefaction Supply Derivatives which are primarily indexed to the natural gas market and international LNG indices. As of September 30, 2024, the remaining fixed terms of the Liquefaction Supply Derivatives ranged up to approximately 15 years, some of which commence or accelerate upon the satisfaction of certain events or development of infrastructure to support natural gas gathering and transport. The forward notional amount for the Liquefaction Supply Derivatives was approximately 5,744 TBtu and 6,245 TBtu as of September 30, 2024 and December 31, 2023, respectively, inclusive of amounts under contracts with unsatisfied contractual conditions, and exclusive of extension options that were uncertain to be taken as of both September 30, 2024 and December 31, 2023. The following table shows the effect and location of the Liquefaction Supply Derivatives recorded on our Consolidated Statements of Operations (in millions): Gain Recognized in Consolidated Statements of Operations Consolidated Statements of Operations Location (1) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Cost of sales $ 152 $ 365 $ 316 $ 1,867 (1) Does not include the realized value associated with the Liquefaction Supply Derivatives that settle through physical delivery. Fair value fluctuations associated with commodity derivative activities are classified and presented consistently with the item economically hedged and the nature and intent of the derivative instrument. Fair Value and Location of Derivative Assets and Liabilities on the Consolidated Balance Sheets All existing counterparty derivative contracts provide for the unconditional right of set-off in the event of default. We have elected to report derivative assets and liabilities arising from those derivative contracts with the same counterparty and the unconditional contractual right of set-off on a net basis. The use of derivative instruments exposes us to counterparty credit risk, or the risk that a counterparty will be unable to meet its commitments, in instances when our derivative instruments are in an asset position. Additionally, counterparties are at risk that we will be unable to meet our commitments in instances where our derivative instruments are in a liability position. We incorporate both our own nonperformance risk and the respective counterparty’s nonperformance risk in fair value measurements depending on the position of the derivative. In adjusting the fair value of our derivative contracts for the effect of nonperformance risk, we have considered the impact of any applicable credit enhancements, such as collateral postings, set-off rights and guarantees. The following table shows the fair value and location of the Liquefaction Supply Derivatives on our Consolidated Balance Sheets (in millions): Fair Value Measurements as of (1) Consolidated Balance Sheets Location September 30, 2024 December 31, 2023 Current derivative assets $ 50 $ 30 Derivative assets 64 40 Total derivative assets 114 70 Current derivative liabilities (222) (196) Derivative liabilities (1,256) (1,531) Total derivative liabilities (1,478) (1,727) Derivative liability, net $ (1,364) $ (1,657) (1) Does not include collateral posted with counterparties by us of $12 million and zero as of September 30, 2024 and December 31, 2023, respectively, which is included in other current assets, net on our Consolidated Balance Sheets, and collateral posted by counterparties to us of zero and $4 million as of September 30, 2024 and December 31, 2023, respectively, which is included in other current liabilities on our Consolidated Balance Sheets. Consolidated Balance Sheets Presentation The following table shows the fair value of our derivatives outstanding on a gross and net basis (in millions) for our derivative instruments that are presented on a net basis on our Consolidated Balance Sheets: Liquefaction Supply Derivatives September 30, 2024 December 31, 2023 Gross assets $ 176 $ 88 Offsetting amounts (62) (18) Net assets $ 114 $ 70 Gross liabilities $ (1,478) $ (1,746) Offsetting amounts — 19 Net liabilities $ (1,478) $ (1,727)

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Sep. 30, 2024
Accrued Liabilities, Current [Abstract]
Accrued Liabilities	ACCRUED LIABILITIES Accrued liabilities consisted of the following (in millions): September 30, December 31, 2024 2023 Natural gas purchases $ 303 $ 464 Interest costs and related debt fees 161 256 LNG terminal and related pipeline costs 69 77 Other accrued liabilities 31 9 Total accrued liabilities $ 564 $ 806

Debt

Debt	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt	DEBT Debt consisted of the following (in millions): September 30, December 31, 2024 2023 SPL: Senior Secured Notes: 5.750% due 2024 $ — $ 300 5.625% due 2025 650 2,000 5.875% due 2026 1,500 1,500 5.00% due 2027 1,500 1,500 4.200% due 2028 1,350 1,350 4.500% due 2030 2,000 2,000 4.746% weighted average rate due 2037 (1) 1,782 1,782 Total SPL Senior Secured Notes 8,782 10,432 Revolving credit and guaranty agreement (the “SPL Revolving Credit Facility” ) — — Total debt - SPL 8,782 10,432 CQP: Senior Notes: 4.500% due 2029 1,500 1,500 4.000% due 2031 1,500 1,500 3.25% due 2032 1,200 1,200 5.950% due 2033 1,400 1,400 5.750% due 2034 1,200 — Total CQP Senior Notes 6,800 5,600 Revolving credit and guaranty agreement (the “CQP Revolving Credit Facility” ) — — Total debt - CQP 6,800 5,600 Total debt 15,582 16,032 Current debt, net of unamortized discount and debt issuance costs (1) (700) (300) Unamortized discount and debt issuance costs (126) (126) Total long-term debt, net of unamortized discount and debt issuance costs $ 14,756 $ 15,606 (1) Includes notes that amortize based on a fixed amortization schedule as set forth in their respective indentures. Credit Facilities Below is a summary of our credit facilities outstanding as of September 30, 2024 (in millions): SPL Revolving Credit Facility CQP Revolving Credit Facility Total facility size $ 1,000 $ 1,000 Less: Outstanding balance — — Letters of credit issued 234 — Available commitment $ 766 $ 1,000 Priority ranking Senior secured Senior unsecured Interest rate on available balance (1) SOFR plus credit spread adjustment of 0.1%, plus margin of 1.0% - 1.75% or base rate plus 0.0% - 0.75% SOFR plus credit spread adjustment of 0.1%, plus margin of 1.125% - 2.0% or base rate plus 0.125% - 1.0% Commitment fees on undrawn balance (1) 0.075% - 0.30% 0.10% - 0.30% Maturity date June 23, 2028 June 23, 2028 (1) The margin on the interest rate and the commitment fees is subject to change based on the applicable entity’s credit rating. Restrictive Debt Covenants The indentures governing our senior notes and other agreements underlying our debt contain customary terms and events of default and certain covenants that, among other things, may limit us and our restricted subsidiaries’ ability to make certain investments or pay dividends or distributions. SPL is restricted from making distributions under agreements governing its indebtedness generally until, among other requirements, appropriate reserves have been established for debt service using cash or letters of credit and a historical debt service coverage ratio and projected debt service coverage ratio of at least 1.25:1.00 is satisfied. As of September 30, 2024, we and SPL were in compliance with all covenants related to our respective debt agreements. Interest Expense Total interest expense, net of capitalized interest, consisted of the following (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Total interest cost $ 201 $ 207 $ 609 $ 626 Capitalized interest (2) (2) (6) (6) Total interest expense, net of capitalized interest $ 199 $ 205 $ 603 $ 620 Fair Value Disclosures The following table shows the carrying amount and estimated fair value of our senior notes (in millions): September 30, 2024 December 31, 2023 Carrying Estimated Carrying Estimated Senior notes $ 15,582 $ 15,490 $ 16,032 $ 15,636 (1) As of both September 30, 2024 and December 31, 2023, $1.3 billion of the fair value of our senior notes were classified as Level 3 since these senior notes were valued by applying an unobservable illiquidity adjustment to the price derived from trades or indicative bids of instruments with similar terms, maturities and credit standing. The remainder of the fair value of our senior notes are classified as Level 2, based on prices derived from trades or indicative bids of the instruments. The estimated fair value of our credit facilities approximates the principal amount outstanding because the interest rates are variable and reflective of market rates and the debt may be repaid, in full or in part, at any time without penalty.

Revenues

Revenues	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenues	REVENUES The following table represents a disaggregation of revenue earned (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenues from contracts with customers LNG revenues $ 1,479 $ 1,564 $ 4,653 $ 5,085 LNG revenues—affiliate 526 515 1,441 1,745 Regasification revenues 34 34 102 101 Other revenues 16 15 48 47 Total revenues from contracts with customers $ 2,055 $ 2,128 $ 6,244 $ 6,978 Contract Assets and Liabilities The following table shows our contract assets, net of current expected credit losses, which are classified as other current assets, net and other non-current assets, net on our Consolidated Balance Sheets (in millions): September 30, December 31, 2024 2023 Contract assets, net of current expected credit losses $ 1 $ 1 The following table reflects the changes in our contract liabilities, which we classify as deferred revenue and other non-current liabilities on our Consolidated Balance Sheets (in millions): Nine Months Ended September 30, 2024 Deferred revenue, beginning of period $ 190 Cash received but not yet recognized in revenue 237 Revenue recognized from prior period deferral (190) Deferred revenue, end of period $ 237 The following table reflects the changes in our contract liabilities to affiliate, which we classify as deferred revenue—affiliate and other non-current liabilities—affiliate on our Consolidated Balance Sheets (in millions): Nine Months Ended September 30, 2024 Deferred revenue—affiliate, beginning of period $ 5 Cash received but not yet recognized in revenue 5 Revenue recognized from prior period deferral (5) Deferred revenue—affiliate, end of period $ 5 Transaction Price Allocated to Future Performance Obligations Because many of our sales contracts have long-term durations, we are contractually entitled to significant future consideration which we have not yet recognized as revenue. The following table discloses the aggregate amount of the transaction price that is allocated to performance obligations that have not yet been satisfied: September 30, 2024 December 31, 2023 Unsatisfied Weighted Average Recognition Timing (years) (1) Unsatisfied Weighted Average Recognition Timing (years) (1) LNG revenues (2) $ 45.2 7 $ 47.6 8 LNG revenues—affiliate 0.8 1 1.4 2 Regasification revenues 0.6 3 0.7 3 Total revenues $ 46.6 $ 49.7 (1) The weighted average recognition timing represents an estimate of the number of years during which we shall have recognized half of the unsatisfied transaction price. (2) We may enter into contracts to sell LNG that are conditioned upon one or both of the parties achieving certain milestones such as reaching FID on a certain liquefaction Train, obtaining financing or achieving substantial completion of a Train and any related facilities. These contracts are included in the transaction price above when the conditions are considered probable of being met and consideration is not otherwise constrained from ultimate pricing and receipt. The following potential future sources of revenue are omitted from the table above under exemptions we have elected: (1) all performance obligations that are part of a contract that has an original expected duration of one year or less and (2) substantially all variable consideration under our SPAs and TUAs as well as variable consideration that is allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service that forms part of a single performance obligation when that performance obligation qualifies as a series. The amount of revenue from variable fees that is not included in the transaction price will vary based on the future prices of the underlying variable index, primarily Henry Hub, throughout the contract terms, to the extent customers elect to take delivery of their LNG, and adjustments to the consumer price index. Certain of our contracts contain additional variable consideration based on the outcome of contingent events and the movement of various indexes. We have not included such variable consideration in the transaction price to the extent the consideration is considered constrained due to the uncertainty of ultimate pricing and receipt. Additionally, we have excluded variable consideration related to volumes that are contractually subject to additional liquefaction capacity beyond what is currently in construction or operation. The following table summarizes the amount of variable consideration earned under contracts with customers included in the table above: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 LNG revenues 50 % 53 % 49 % 55 % LNG revenues—affiliate 65 % 64 % 63 % 68 % Regasification revenues 8 % 7 % 8 % 7 %

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS Below is a summary of our transactions with our affiliates and other related parties, all in the ordinary course of business, as reported on our Consolidated Statements of Operations (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 LNG revenues—affiliate SPAs and Letter Agreements with Cheniere Marketing $ 526 $ 513 $ 1,441 $ 1,742 Contracts for Sale and Purchase of Natural Gas and LNG — 2 — 3 Total LNG revenues—affiliate 526 515 1,441 1,745 Cost of sales—affiliate Cheniere Marketing Agreements — — 4 — Contracts for Sale and Purchase of Natural Gas and LNG — 2 — 20 Total cost of sales—affiliate — 2 4 20 Operating and maintenance expense—affiliate Services Agreements (see Note 1 ) 41 38 123 120 Operating and maintenance expense—related party Natural Gas Transportation and Storage Agreements (1) 15 14 44 44 General and administrative expense—affiliate Services Agreements (see Note 1 ) 23 20 68 66 Other operating costs and expenses—affiliate Services Agreements (see Note 1 ) 1 1 2 1 (1) These arrangements are with a party who indirectly owns a portion of our limited partner interests. Assets and liabilities arising from the agreements with affiliates and other related parties referenced in the above table are classified as affiliate and related party, respectively, on our Consolidated Balance Sheets. Disclosures relating to future consideration under revenue contracts with affiliates is included in Note 9—Revenues . See our annual report on Form 10-K for the fiscal year ended December 31, 2023

Net Income per Common Unit

Net Income per Common Unit	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Net Income per Common Unit	NET INCOME PER COMMON UNIT Net income per common unit for a given period is based on the distributions we incur to the common unitholders with respect to earnings or losses of the reporting period plus an allocation of undistributed net income or loss based on provisions of the partnership agreement, divided by the weighted average number of common units outstanding. Distributions declared by us during the period are presented on the Consolidated Statements of Partners’ Deficit. On October 25, 2024, we declared a cash distribution of $0.810 per common unit to unitholders of record as of November 4, 2024, and the related general partner distribution, to be paid on November 14, 2024 with respect to the three months ended September 30, 2024. These distributions consist of a base amount of $0.775 per unit and a variable amount of $0.035 per unit. The two-class method dictates that net income for a period be reduced by the amount of available cash that will be distributed with respect to that period and that any residual amount representing undistributed net income be allocated to common unitholders and other participating unitholders to the extent that each unit may share in net income as if all of the net income for the period had been distributed in accordance with the partnership agreement. Undistributed income is allocated to participating securities based on the distribution waterfall for available cash specified in the partnership agreement. Undistributed losses (including those resulting from distributions in excess of net income) are allocated to common units and other participating securities on a pro rata basis based on provisions of the partnership agreement. Distributions are treated as distributed earnings in the computation of earnings per common unit in the current period even though cash distributions are not necessarily derived from current period earnings. The following table provides a reconciliation of net income and the allocation of net income to the common units, the general partner units and IDRs for purposes of computing basic and diluted net income per unit (in millions, except per unit data). Total Limited Partner Common Units General Partner Units IDR Three Months Ended September 30, 2024 Net income $ 635 Declared distributions 501 392 10 99 Assumed allocation of undistributed net income (1) $ 134 132 3 — Assumed allocation of net income $ 524 $ 13 $ 99 Weighted average units outstanding 484.0 Basic and diluted net income per unit $ 1.08 Three Months Ended September 30, 2023 Net income $ 791 Declared distributions 714 499 14 201 Assumed allocation of undistributed net income (1) $ 77 75 1 — Assumed allocation of net income $ 574 $ 15 $ 201 Weighted average units outstanding 484.0 Basic and diluted net income per unit $ 1.19 Nine Months Ended September 30, 2024 Net income $ 1,887 Declared distributions 1,503 1,176 30 297 Assumed allocation of undistributed net income (1) $ 384 376 8 — Assumed allocation of net income $ 1,552 $ 38 $ 297 Weighted average units outstanding 484.0 Basic and diluted net income per unit $ 3.21 Nine Months Ended September 30, 2023 Net income $ 3,348 Declared distributions 2,142 1,496 43 603 Assumed allocation of undistributed net income (1) $ 1,206 1,181 24 — Assumed allocation of net income $ 2,677 $ 67 $ 603 Weighted average units outstanding 484.0 Basic and diluted net income per unit $ 5.53 (1) Under our partnership agreement, the IDRs participate in net income only to the extent of the amount of cash distributions actually declared, thereby excluding the IDRs from participating in undistributed net income.

Customer Concentration

Customer Concentration	9 Months Ended
	Sep. 30, 2024
Risks and Uncertainties [Abstract]
Customer Concentration	CUSTOMER CONCENTRATION The concentration of our customer credit risk in excess of 10% of total revenues and/or trade and other receivables, net of current expected credit losses and contract assets, net of current expected credit losses was as follows: Percentage of Total Revenues from External Customers Percentage of Trade and Other Receivables, Net and Contract Assets, Net from External Customers Three Months Ended September 30, Nine Months Ended September 30, September 30, December 31, 2024 2023 2024 2023 2024 2023 Customer A 17% 17% 22% 23% 17% 22% Customer B 18% 17% 15% 16% * 16% Customer C 15% 18% 15% 16% 16% 12% Customer D 16% 15% 14% 15% 12% 15% Customer E * 10% 11% 11% * 12% Customer F * * * * 11% * * Less than 10%

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2024
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	SUPPLEMENTAL CASH FLOW INFORMATION The following table provides supplemental disclosure of substantive cash flow information (in millions): Nine Months Ended September 30, 2024 2023 Cash paid during the period for interest on debt, net of amounts capitalized $ 671 $ 658 Non-cash investing activity: Unpaid purchases of property, plant and equipment, net (1) 20 31 Right-of-use assets obtained in exchange for lease liabilities: Operating lease liabilities (2) 3 — Finance lease liabilities (3) 59 — (1) Reflects unpaid portion, as of the end of each period, of assets and liabilities recognized during the respective periods. (2) Net of $33 million reclassified from operating leases to finance leases during the nine months ended September 30, 2024, as a result of modifications of the underlying tug vessel leases. (3)

Nature of Operations and Basi_2

Nature of Operations and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation, Policy	Basis of Presentation The accompanying unaudited Consolidated Financial Statements of CQP have been prepared in accordance with GAAP for interim financial information and in accordance with Rule 10-01 of Regulation S-X and reflect all normal recurring adjustments which are, in the opinion of management, necessary for a fair statement of the financial results for the interim periods presented. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the Consolidated Financial Statements and accompanying notes included in our annual report on Form 10-K for the fiscal year ended December 31, 2023 . Results of operations for the three and nine months ended September 30, 2024 are not necessarily indicative of the results of operations that will be realized for the year ending December 31, 2024.
Income Taxes, Policy	We are not subject to either federal or state income tax, as our partners are taxed individually on their allocable share of our taxable income.
Recent Accounting Standards	Recent Accounting Standards ASU 2023-07 In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280) . This guidance requires a public entity, including entities with a single reportable segment, to disclose significant segment expenses and other segment items on an annual and interim basis and provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. We plan to adopt this guidance and conform with the applicable disclosures retrospectively when it becomes mandatorily effective for our annual report for the year ending December 31, 2024.

Trade and Other Receivables, _2

Trade and Other Receivables, Net of Current Expected Credit Losses (Tables)	9 Months Ended
	Sep. 30, 2024
Receivables [Abstract]
Schedule of Accounts and Other Receivables, Net of Current Expected Credit Losses	Trade and other receivables, net of current expected credit losses, consisted of the following (in millions): September 30, December 31, 2024 2023 Trade receivables $ 233 $ 364 Other receivables 6 9 Total trade and other receivables, net of current expected credit losses $ 239 $ 373

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory consisted of the following (in millions): September 30, December 31, 2024 2023 Materials $ 113 $ 107 Natural gas 14 22 LNG 7 12 Other 1 1 Total inventory $ 135 $ 142

Property, Plant and Equipment_2

Property, Plant and Equipment, Net of Accumulated Depreciation (Tables)	9 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net of Accumulated Depreciation	Property, plant and equipment, net of accumulated depreciation consisted of the following (in millions): September 30, December 31, 2024 2023 LNG terminal Terminal and interconnecting pipeline facilities $ 20,250 $ 20,176 Construction-in-process 211 189 Accumulated depreciation (4,669) (4,173) Total LNG terminal, net of accumulated depreciation 15,792 16,192 Fixed assets Fixed assets 32 29 Accumulated depreciation (27) (26) Total fixed assets, net of accumulated depreciation 5 3 Assets under finance leases Tug vessels 74 23 Accumulated depreciation (3) (6) Total assets under finance leases, net of accumulated depreciation 71 17 Property, plant and equipment, net of accumulated depreciation $ 15,868 $ 16,212

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Derivative Assets and Liabilities	The following table shows the fair value of our derivative instruments that are required to be measured at fair value on a recurring basis, distinguished by the fair value hierarchy levels prescribed by GAAP (in millions): Fair Value Measurements as of September 30, 2024 December 31, 2023 Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Total Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Total Liquefaction Supply Derivatives asset (liability) $ 5 $ 7 $ (1,376) $ (1,364) $ 18 $ 1 $ (1,676) $ (1,657)
Fair Value Measurement Inputs and Valuation Techniques	The following table includes quantitative information for the unobservable inputs for the Level 3 Liquefaction Supply Derivatives as of September 30, 2024: Net Fair Value Liability (in millions) Valuation Approach Significant Unobservable Input Range of Significant Unobservable Inputs / Weighted Average (1) Liquefaction Supply Derivatives $(1,376) Market approach incorporating present value techniques Henry Hub basis spread $(0.700) - $0.481 / $0.036 Option pricing model International LNG pricing spread, relative to Henry Hub (2) 70% - 411% / 185% (1) Unobservable inputs were weighted by the relative fair value of the instruments. (2) Spread contemplates U.S. dollar-denominated pricing.
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following table shows the changes in the fair value of the Level 3 Liquefaction Supply Derivatives (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Balance, beginning of period $ (1,495) $ (2,255) $ (1,676) $ (3,719) Realized and change in fair value gains included in net income (1): Included in cost of sales, existing deals (2) 46 294 163 1,275 Included in cost of sales, new deals (3) 2 8 17 23 Purchases and settlements: Purchases (4) — — — — Settlements (5) 69 59 119 522 Transfers out of level 3 (6) 2 2 1 7 Balance, end of period $ (1,376) $ (1,892) $ (1,376) $ (1,892) Favorable changes in fair value relating to instruments still held at the end of the period $ 48 $ 302 $ 180 $ 1,298 (1) Does not include the realized value associated with derivative instruments that settle through physical delivery, as settlement is equal to the contractually fixed price from trade date multiplied by contractual volume. See settlements line item in this table. (2) Impact to earnings on deals that existed at the beginning of the period and continue to exist at the end of the period. (3) Impact to earnings on deals that were entered into during the reporting period and continue to exist at the end of the period. (4) Includes any day one gain (loss) recognized during the reporting period on deals that were entered into during the reporting period which continue to exist at the end of the period. (5) Roll-off in the current period of amounts recognized in our Consolidated Balance Sheets at the end of the previous period due to settlement of the underlying instruments in the current period. (6) Transferred out of Level 3 as a result of observable market for the underlying natural gas purchase agreements.
Derivative Instruments, Gain (Loss)	The following table shows the effect and location of the Liquefaction Supply Derivatives recorded on our Consolidated Statements of Operations (in millions): Gain Recognized in Consolidated Statements of Operations Consolidated Statements of Operations Location (1) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Cost of sales $ 152 $ 365 $ 316 $ 1,867 (1) Does not include the realized value associated with the Liquefaction Supply Derivatives that settle through physical delivery. Fair value fluctuations associated with commodity derivative activities are classified and presented consistently with the item economically hedged and the nature and intent of the derivative instrument.
Fair Value of Derivative Instruments by Balance Sheet Location	The following table shows the fair value and location of the Liquefaction Supply Derivatives on our Consolidated Balance Sheets (in millions): Fair Value Measurements as of (1) Consolidated Balance Sheets Location September 30, 2024 December 31, 2023 Current derivative assets $ 50 $ 30 Derivative assets 64 40 Total derivative assets 114 70 Current derivative liabilities (222) (196) Derivative liabilities (1,256) (1,531) Total derivative liabilities (1,478) (1,727) Derivative liability, net $ (1,364) $ (1,657) (1) Does not include collateral posted with counterparties by us of $12 million and zero as of September 30, 2024 and December 31, 2023, respectively, which is included in other current assets, net on our Consolidated Balance Sheets, and collateral posted by counterparties to us of zero and $4 million as of September 30, 2024 and December 31, 2023, respectively, which is included in other current liabilities on our Consolidated Balance Sheets.
Derivative Net Presentation on Consolidated Balance Sheets	The following table shows the fair value of our derivatives outstanding on a gross and net basis (in millions) for our derivative instruments that are presented on a net basis on our Consolidated Balance Sheets: Liquefaction Supply Derivatives September 30, 2024 December 31, 2023 Gross assets $ 176 $ 88 Offsetting amounts (62) (18) Net assets $ 114 $ 70 Gross liabilities $ (1,478) $ (1,746) Offsetting amounts — 19 Net liabilities $ (1,478) $ (1,727)

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2024
Accrued Liabilities, Current [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following (in millions): September 30, December 31, 2024 2023 Natural gas purchases $ 303 $ 464 Interest costs and related debt fees 161 256 LNG terminal and related pipeline costs 69 77 Other accrued liabilities 31 9 Total accrued liabilities $ 564 $ 806

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt Instruments	Debt consisted of the following (in millions): September 30, December 31, 2024 2023 SPL: Senior Secured Notes: 5.750% due 2024 $ — $ 300 5.625% due 2025 650 2,000 5.875% due 2026 1,500 1,500 5.00% due 2027 1,500 1,500 4.200% due 2028 1,350 1,350 4.500% due 2030 2,000 2,000 4.746% weighted average rate due 2037 (1) 1,782 1,782 Total SPL Senior Secured Notes 8,782 10,432 Revolving credit and guaranty agreement (the “SPL Revolving Credit Facility” ) — — Total debt - SPL 8,782 10,432 CQP: Senior Notes: 4.500% due 2029 1,500 1,500 4.000% due 2031 1,500 1,500 3.25% due 2032 1,200 1,200 5.950% due 2033 1,400 1,400 5.750% due 2034 1,200 — Total CQP Senior Notes 6,800 5,600 Revolving credit and guaranty agreement (the “CQP Revolving Credit Facility” ) — — Total debt - CQP 6,800 5,600 Total debt 15,582 16,032 Current debt, net of unamortized discount and debt issuance costs (1) (700) (300) Unamortized discount and debt issuance costs (126) (126) Total long-term debt, net of unamortized discount and debt issuance costs $ 14,756 $ 15,606 (1) Includes notes that amortize based on a fixed amortization schedule as set forth in their respective indentures.
Schedule of Line of Credit Facilities	Below is a summary of our credit facilities outstanding as of September 30, 2024 (in millions): SPL Revolving Credit Facility CQP Revolving Credit Facility Total facility size $ 1,000 $ 1,000 Less: Outstanding balance — — Letters of credit issued 234 — Available commitment $ 766 $ 1,000 Priority ranking Senior secured Senior unsecured Interest rate on available balance (1) SOFR plus credit spread adjustment of 0.1%, plus margin of 1.0% - 1.75% or base rate plus 0.0% - 0.75% SOFR plus credit spread adjustment of 0.1%, plus margin of 1.125% - 2.0% or base rate plus 0.125% - 1.0% Commitment fees on undrawn balance (1) 0.075% - 0.30% 0.10% - 0.30% Maturity date June 23, 2028 June 23, 2028 (1) The margin on the interest rate and the commitment fees is subject to change based on the applicable entity’s credit rating.
Schedule of Interest Expense	Total interest expense, net of capitalized interest, consisted of the following (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Total interest cost $ 201 $ 207 $ 609 $ 626 Capitalized interest (2) (2) (6) (6) Total interest expense, net of capitalized interest $ 199 $ 205 $ 603 $ 620
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	The following table shows the carrying amount and estimated fair value of our senior notes (in millions): September 30, 2024 December 31, 2023 Carrying Estimated Carrying Estimated Senior notes $ 15,582 $ 15,490 $ 16,032 $ 15,636 (1) As of both September 30, 2024 and December 31, 2023, $1.3 billion of the fair value of our senior notes were classified as Level 3 since these senior notes were valued by applying an unobservable illiquidity adjustment to the price derived from trades or indicative bids of instruments with similar terms, maturities and credit standing. The remainder of the fair value of our senior notes are classified as Level 2, based on prices derived from trades or indicative bids of the instruments.

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table represents a disaggregation of revenue earned (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenues from contracts with customers LNG revenues $ 1,479 $ 1,564 $ 4,653 $ 5,085 LNG revenues—affiliate 526 515 1,441 1,745 Regasification revenues 34 34 102 101 Other revenues 16 15 48 47 Total revenues from contracts with customers $ 2,055 $ 2,128 $ 6,244 $ 6,978
Contract with Customer, Asset	The following table shows our contract assets, net of current expected credit losses, which are classified as other current assets, net and other non-current assets, net on our Consolidated Balance Sheets (in millions): September 30, December 31, 2024 2023 Contract assets, net of current expected credit losses $ 1 $ 1
Contract Balances Reconciliation	The following table reflects the changes in our contract liabilities, which we classify as deferred revenue and other non-current liabilities on our Consolidated Balance Sheets (in millions): Nine Months Ended September 30, 2024 Deferred revenue, beginning of period $ 190 Cash received but not yet recognized in revenue 237 Revenue recognized from prior period deferral (190) Deferred revenue, end of period $ 237 The following table reflects the changes in our contract liabilities to affiliate, which we classify as deferred revenue—affiliate and other non-current liabilities—affiliate on our Consolidated Balance Sheets (in millions): Nine Months Ended September 30, 2024 Deferred revenue—affiliate, beginning of period $ 5 Cash received but not yet recognized in revenue 5 Revenue recognized from prior period deferral (5) Deferred revenue—affiliate, end of period $ 5
Transaction Price Allocated to Future Performance Obligations	The following table discloses the aggregate amount of the transaction price that is allocated to performance obligations that have not yet been satisfied: September 30, 2024 December 31, 2023 Unsatisfied Weighted Average Recognition Timing (years) (1) Unsatisfied Weighted Average Recognition Timing (years) (1) LNG revenues (2) $ 45.2 7 $ 47.6 8 LNG revenues—affiliate 0.8 1 1.4 2 Regasification revenues 0.6 3 0.7 3 Total revenues $ 46.6 $ 49.7 (1) The weighted average recognition timing represents an estimate of the number of years during which we shall have recognized half of the unsatisfied transaction price. (2) We may enter into contracts to sell LNG that are conditioned upon one or both of the parties achieving certain milestones such as reaching FID on a certain liquefaction Train, obtaining financing or achieving substantial completion of a Train and any related facilities. These contracts are included in the transaction price above when the conditions are considered probable of being met and consideration is not otherwise constrained from ultimate pricing and receipt.
Revenue, Remaining Performance Obligation, Variable Consideration	The following table summarizes the amount of variable consideration earned under contracts with customers included in the table above: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 LNG revenues 50 % 53 % 49 % 55 % LNG revenues—affiliate 65 % 64 % 63 % 68 % Regasification revenues 8 % 7 % 8 % 7 %

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Below is a summary of our transactions with our affiliates and other related parties, all in the ordinary course of business, as reported on our Consolidated Statements of Operations (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 LNG revenues—affiliate SPAs and Letter Agreements with Cheniere Marketing $ 526 $ 513 $ 1,441 $ 1,742 Contracts for Sale and Purchase of Natural Gas and LNG — 2 — 3 Total LNG revenues—affiliate 526 515 1,441 1,745 Cost of sales—affiliate Cheniere Marketing Agreements — — 4 — Contracts for Sale and Purchase of Natural Gas and LNG — 2 — 20 Total cost of sales—affiliate — 2 4 20 Operating and maintenance expense—affiliate Services Agreements (see Note 1 ) 41 38 123 120 Operating and maintenance expense—related party Natural Gas Transportation and Storage Agreements (1) 15 14 44 44 General and administrative expense—affiliate Services Agreements (see Note 1 ) 23 20 68 66 Other operating costs and expenses—affiliate Services Agreements (see Note 1 ) 1 1 2 1 (1) These arrangements are with a party who indirectly owns a portion of our limited partner interests.

Net Income per Common Unit (Tab

Net Income per Common Unit (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Net Income per Common Unit	The following table provides a reconciliation of net income and the allocation of net income to the common units, the general partner units and IDRs for purposes of computing basic and diluted net income per unit (in millions, except per unit data). Total Limited Partner Common Units General Partner Units IDR Three Months Ended September 30, 2024 Net income $ 635 Declared distributions 501 392 10 99 Assumed allocation of undistributed net income (1) $ 134 132 3 — Assumed allocation of net income $ 524 $ 13 $ 99 Weighted average units outstanding 484.0 Basic and diluted net income per unit $ 1.08 Three Months Ended September 30, 2023 Net income $ 791 Declared distributions 714 499 14 201 Assumed allocation of undistributed net income (1) $ 77 75 1 — Assumed allocation of net income $ 574 $ 15 $ 201 Weighted average units outstanding 484.0 Basic and diluted net income per unit $ 1.19 Nine Months Ended September 30, 2024 Net income $ 1,887 Declared distributions 1,503 1,176 30 297 Assumed allocation of undistributed net income (1) $ 384 376 8 — Assumed allocation of net income $ 1,552 $ 38 $ 297 Weighted average units outstanding 484.0 Basic and diluted net income per unit $ 3.21 Nine Months Ended September 30, 2023 Net income $ 3,348 Declared distributions 2,142 1,496 43 603 Assumed allocation of undistributed net income (1) $ 1,206 1,181 24 — Assumed allocation of net income $ 2,677 $ 67 $ 603 Weighted average units outstanding 484.0 Basic and diluted net income per unit $ 5.53 (1) Under our partnership agreement, the IDRs participate in net income only to the extent of the amount of cash distributions actually declared, thereby excluding the IDRs from participating in undistributed net income.

Customer Concentration (Tables)

Customer Concentration (Tables)	9 Months Ended
	Sep. 30, 2024
Risks and Uncertainties [Abstract]
Schedule of Revenue and Accounts Receivable by Major Customers	The concentration of our customer credit risk in excess of 10% of total revenues and/or trade and other receivables, net of current expected credit losses and contract assets, net of current expected credit losses was as follows: Percentage of Total Revenues from External Customers Percentage of Trade and Other Receivables, Net and Contract Assets, Net from External Customers Three Months Ended September 30, Nine Months Ended September 30, September 30, December 31, 2024 2023 2024 2023 2024 2023 Customer A 17% 17% 22% 23% 17% 22% Customer B 18% 17% 15% 16% * 16% Customer C 15% 18% 15% 16% 16% 12% Customer D 16% 15% 14% 15% 12% 15% Customer E * 10% 11% 11% * 12% Customer F * * * * 11% * * Less than 10%

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2024
Supplemental Cash Flow Information [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	The following table provides supplemental disclosure of substantive cash flow information (in millions): Nine Months Ended September 30, 2024 2023 Cash paid during the period for interest on debt, net of amounts capitalized $ 671 $ 658 Non-cash investing activity: Unpaid purchases of property, plant and equipment, net (1) 20 31 Right-of-use assets obtained in exchange for lease liabilities: Operating lease liabilities (2) 3 — Finance lease liabilities (3) 59 — (1) Reflects unpaid portion, as of the end of each period, of assets and liabilities recognized during the respective periods. (2) Net of $33 million reclassified from operating leases to finance leases during the nine months ended September 30, 2024, as a result of modifications of the underlying tug vessel leases. (3)

Nature of Operations and Basi_3

Nature of Operations and Basis of Presentation (Details) shares in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2024 item mi milliontonnes / yr unit trains shares	Dec. 31, 2023
Sabine Pass LNG Terminal [Member]
Organization and Nature of Operations [Line Items]
Number of Liquefaction LNG Trains Operating | trains	6
Total Production Capability | milliontonnes / yr	30
Number Of LNG Storage Tanks | unit	5
Number of Marine Berths Operating | item	3
Creole Trail Pipeline [Member]
Organization and Nature of Operations [Line Items]
Length of Natural Gas Pipeline | mi	94
Cheniere Partners [Member]
Organization and Nature of Operations [Line Items]
General Partner Ownership Interest Percentage	2%	2%
Cheniere [Member] | Cheniere Partners [Member]
Organization and Nature of Operations [Line Items]
Limited Partner Ownership Percentage	48.60%
General Partner Ownership Interest Percentage	100%
Cheniere [Member] | Cheniere Partners [Member] | Common Units [Member]
Organization and Nature of Operations [Line Items]
Partners' Capital Account, Units, Units Held | shares	239.9

Unitholders' Equity (Details)

Unitholders' Equity (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Maximum [Member]
Other Ownership Interests [Line Items]
Number of days after quarter end distribution is paid	45 days
General Partner [Member] | Minimum [Member]
Other Ownership Interests [Line Items]
Distributions entitled by General Partner, Percentage	2%
Incentive Distribution, Quarterly Distribution Additional Target Percentage	15%
General Partner [Member] | Maximum [Member]
Other Ownership Interests [Line Items]
Incentive Distribution, Quarterly Distribution Additional Target Percentage	50%
Cheniere Partners [Member]
Other Ownership Interests [Line Items]
General Partner Ownership Interest Percentage	2%	2%
Cheniere [Member]
Other Ownership Interests [Line Items]
General Partner Ownership Interest Percentage	2%
Cheniere [Member] | Cheniere Partners [Member]
Other Ownership Interests [Line Items]
Limited Partner Ownership Percentage	48.60%
General Partner Ownership Interest Percentage	100%
CQP Target Holdco LLC and Other Blackstone and Brookfield Affiliates [Member] | Cheniere Partners [Member]
Other Ownership Interests [Line Items]
Limited Partner Ownership Percentage	41.50%
Public [Member] | Cheniere Partners [Member]
Other Ownership Interests [Line Items]
Limited Partner Ownership Percentage	7.90%
BIP Chinook Holdco LLC [Member] | CQP Target Holdco LLC [Member]
Other Ownership Interests [Line Items]
Limited Partner Ownership Percentage	50%
BIF IV Cypress Aggregator (Delaware) LLC [Member] | CQP Target Holdco LLC [Member]
Other Ownership Interests [Line Items]
Limited Partner Ownership Percentage	50%

Trade and Other Receivables, _3

Trade and Other Receivables, Net of Current Expected Credit Losses (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade and other receivables, net of current expected credit losses	$ 239	$ 373
Trade Accounts Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade and other receivables, net of current expected credit losses	233	364
Other Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade and other receivables, net of current expected credit losses	$ 6	$ 9

Inventory (Details)

Inventory (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Inventory [Line Items]
Inventory	$ 135	$ 142
Materials [Member]
Inventory [Line Items]
Inventory	113	107
Natural gas [Member]
Inventory [Line Items]
Inventory	14	22
LNG [Member]
Inventory [Line Items]
Inventory	7	12
Other [Member]
Inventory [Line Items]
Inventory	$ 1	$ 1

Property, Plant and Equipment_3

Property, Plant and Equipment, Net of Accumulated Depreciation - Schedule of Property, Plant and Equipment, Net of Accumulated Depreciation (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net of accumulated depreciation	$ 15,868	$ 16,212
LNG terminal costs [Member]
Property, Plant and Equipment [Line Items]
Accumulated depreciation	(4,669)	(4,173)
Property, plant and equipment, net of accumulated depreciation	15,792	16,192
Terminal and interconnecting pipeline facilities [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	20,250	20,176
Construction-in-process [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	211	189
Fixed assets [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	32	29
Accumulated depreciation	(27)	(26)
Property, plant and equipment, net of accumulated depreciation	5	3
Assets under finance leases
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	74	23
Accumulated depreciation	(3)	(6)
Property, plant and equipment, net of accumulated depreciation	$ 71	$ 17

Property, Plant and Equipment_4

Property, Plant and Equipment, Net of Accumulated Depreciation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 169	$ 166	$ 505	$ 497

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($) tbtu	Dec. 31, 2023 tbtu
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Instruments in Hedges, at Fair Value, Net | $	$ 0
Derivative, Nonmonetary Notional Amount | tbtu	5,744	6,245
Liquefaction Supply Derivatives [Member] | Maximum [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Term of Contract	15 years

Derivative Instruments - Fair V

Derivative Instruments - Fair Value of Derivative Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net	$ (1,364)	$ (1,657)
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net	5	18
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net	7	1
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net	$ (1,376)	$ (1,676)

Derivative Instruments - Fair_2

Derivative Instruments - Fair Value Inputs - Quantitative Information (Details) - USD ($)		9 Months Ended
		Sep. 30, 2024	Dec. 31, 2023
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Net Fair Value Liability		$ (1,364,000,000)	$ (1,657,000,000)
Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Net Fair Value Liability		(1,376,000,000)	$ (1,676,000,000)
Liquefaction Supply Derivatives [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Net Fair Value Liability		(1,376,000,000)
Liquefaction Supply Derivatives [Member] | Valuation, Market Approach | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Significant Unobservable Input Range	[1]	(0.700)
Liquefaction Supply Derivatives [Member] | Valuation, Market Approach | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Significant Unobservable Input Range	[1]	0.481
Liquefaction Supply Derivatives [Member] | Valuation, Market Approach | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Significant Unobservable Input Range	[1]	$ 0.036
Liquefaction Supply Derivatives [Member] | Valuation Technique, Option Pricing Model | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value Inputs Basis Spread Percentage	[1],[2]	70%
Liquefaction Supply Derivatives [Member] | Valuation Technique, Option Pricing Model | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value Inputs Basis Spread Percentage	[1],[2]	411%
Liquefaction Supply Derivatives [Member] | Valuation Technique, Option Pricing Model | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value Inputs Basis Spread Percentage	[1],[2]	185%
[1] Unobservable inputs were weighted by the relative fair value of the instruments. Spread contemplates U.S. dollar-denominated pricing.

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Level 3 Activity (Details) - Liquefaction Supply Derivatives [Member] - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period		$ (1,495)	$ (2,255)	$ (1,676)	$ (3,719)
Realized and change in fair value gains (losses) included in net income:
Included in cost of sales, existing deals	[1],[2]	46	294	163	1,275
Included in cost of sales, new deals	[1],[3]	2	8	17	23
Purchases and settlements:
Purchases	[4]	0	0	0	0
Settlements	[5]	69	59	119	522
Transfers out of Level 3, net	[6]	2	2	1	7
Balance, end of period		(1,376)	(1,892)	(1,376)	(1,892)
Favorable changes in fair value relating to instruments still held at the end of the period		$ 48	$ 302	$ 180	$ 1,298
[1] Does not include the realized value associated with derivative instruments that settle through physical delivery, as settlement is equal to the contractually fixed price from trade date multiplied by contractual volume. See settlements line item in this table. Impact to earnings on deals that existed at the beginning of the period and continue to exist at the end of the period. Impact to earnings on deals that were entered into during the reporting period and continue to exist at the end of the period. Includes any day one gain (loss) recognized during the reporting period on deals that were entered into during the reporting period which continue to exist at the end of the period. Roll-off in the current period of amounts recognized in our Consolidated Balance Sheets at the end of the previous period due to settlement of the underlying instruments in the current period. Transferred out of Level 3 as a result of observable market for the underlying natural gas purchase agreements.

Derivative Instruments - Deriva

Derivative Instruments - Derivative Instruments, Gain (Loss) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gain (loss), net	[1]	$ 152	$ 365	$ 316	$ 1,867
Liquefaction Supply Derivatives [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain, Statement of Income or Comprehensive Income [Extensible Enumeration]		Cost of sales	Cost of sales	Cost of sales	Cost of sales
[1] Does not include the realized value associated with the Liquefaction Supply Derivatives that settle through physical delivery. Fair value fluctuations associated with commodity derivative activities are classified and presented consistently with the item economically hedged and the nature and intent of the derivative instrument.

Derivative Instruments - Fair_3

Derivative Instruments - Fair Value of Derivative Instruments by Balance Sheet Location (Details) - USD ($) $ in Millions		Sep. 30, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Current derivative assets	[1]	$ 50	$ 30
Derivative assets	[1]	64	40
Total derivative assets	[1]	114	70
Current derivative liabilities	[1]	(222)	(196)
Derivative liabilities	[1]	(1,256)	(1,531)
Total derivative liabilities	[1]	(1,478)	(1,727)
Derivative asset (liability), net	[1]	(1,364)	(1,657)
Derivative, collateral posted by us		12	0
Derivative, collateral posted by counterparties		$ 0	$ 4
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]		Current derivative assets	Current derivative assets
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration]		Derivative assets	Derivative assets
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]		Current derivative liabilities	Current derivative liabilities
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]		Derivative liabilities	Derivative liabilities
[1] Does not include collateral posted with counterparties by us of $12 million and zero as of September 30, 2024 and December 31, 2023, respectively, which is included in other current assets, net on our Consolidated Balance Sheets, and collateral posted by counterparties to us of zero and $4 million as of September 30, 2024 and December 31, 2023, respectively, which is included in other current liabilities on our Consolidated Balance Sheets.

Derivative Instruments - Balanc

Derivative Instruments - Balance Sheet Presentation Table (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Derivative [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net	$ (1,364)	$ (1,657)
Liquefaction Supply Derivative Asset [Member]
Derivative [Line Items]
Derivative Asset, Gross Amounts Recognized	176	88
Derivative Asset, Gross Amounts Offset in the Consolidated Balance Sheet	(62)	(18)
Derivative Assets (Liabilities), at Fair Value, Net	114	70
Liquefaction Supply Derivative Liability [Member]
Derivative [Line Items]
Derivative Liability, Gross Amounts Recognized	(1,478)	(1,746)
Derivative Liability, Gross Amounts Offset in the Consolidated Balance Sheet	0	19
Derivative Assets (Liabilities), at Fair Value, Net	$ (1,478)	$ (1,727)

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Accrued Liabilities [Line Items]
Natural gas purchases	$ 303	$ 464
Interest costs and related debt fees	161	256
LNG terminal and related pipeline costs	69	77
Other accrued liabilities	31	9
Accrued liabilities	611	866
Nonrelated Party [Member]
Accrued Liabilities [Line Items]
Accrued liabilities	$ 564	$ 806

Debt - Schedule of Debt Instrum

Debt - Schedule of Debt Instruments (Details) - USD ($) $ in Millions		Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 15,582	$ 16,032
Current debt, net of unamortized discount and debt issuance costs	[1]	(700)	(300)
Unamortized discount and debt issuance costs		(126)	(126)
Total long-term debt, net of unamortized discount and debt issuance costs		14,756	15,606
SPL Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross		8,782	10,432
2024 SPL Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 0	300
Debt Instrument, Interest Rate, Stated Percentage		5.75%
2025 SPL Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 650	2,000
Debt Instrument, Interest Rate, Stated Percentage		5.625%
2026 SPL Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 1,500	1,500
Debt Instrument, Interest Rate, Stated Percentage		5.875%
2027 SPL Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 1,500	1,500
Debt Instrument, Interest Rate, Stated Percentage		5%
2028 SPL Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 1,350	1,350
Debt Instrument, Interest Rate, Stated Percentage		4.20%
2030 SPL Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 2,000	2,000
Debt Instrument, Interest Rate, Stated Percentage		4.50%
2037 SPL Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	[1]	$ 1,782	1,782
2037 SPL Senior Notes [Member] | Weighted Average [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		4.746%
SPL Revolving Credit Facility
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 0	0
CQP Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross		6,800	5,600
2029 CQP Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 1,500	1,500
Debt Instrument, Interest Rate, Stated Percentage		4.50%
2031 CQP Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 1,500	1,500
Debt Instrument, Interest Rate, Stated Percentage		4%
2032 CQP Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 1,200	1,200
Debt Instrument, Interest Rate, Stated Percentage		3.25%
2033 CQP Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 1,400	1,400
Debt Instrument, Interest Rate, Stated Percentage		5.95%
2034 Cheniere Energy Partners Senior Notes
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 1,200	0
Debt Instrument, Interest Rate, Stated Percentage		5.75%
CQP Revolving Credit Facility
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 0	0
SPL [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross		8,782	10,432
CQP [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 6,800	$ 5,600
[1] Includes notes that amortize based on a fixed amortization schedule as set forth in their respective indentures.

Debt - Credit Facilities Table

Debt - Credit Facilities Table (Details) $ in Millions		9 Months Ended
		Sep. 30, 2024 USD ($) unit Rate	Dec. 31, 2023 USD ($)
Line of Credit Facility [Line Items]
Outstanding balance | $		$ 15,582	$ 16,032
Debt, Minimum Historical Debt Service Coverage Ratio And Projected Debt Service Coverage Ratio | unit		1.25
SPL Revolving Credit Facility
Line of Credit Facility [Line Items]
Total facility size | $		$ 1,000
Outstanding balance | $		0	0
Letters of credit issued | $		234
Available commitment | $		$ 766
Debt Instrument, Description of Variable Rate Basis		SOFR or base rate
Debt Instrument, Maturity Date		Jun. 23, 2028
SPL Revolving Credit Facility | Minimum [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Commitment Fee Percentage	[1]	0.075%
SPL Revolving Credit Facility | Maximum [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Commitment Fee Percentage	[1]	0.30%
SPL Revolving Credit Facility | SOFR
Line of Credit Facility [Line Items]
Debt Instrument, Credit Spread Adjustment On Variable Rate	[1]	0.10%
SPL Revolving Credit Facility | SOFR | Minimum [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	[1]	1%
SPL Revolving Credit Facility | SOFR | Maximum [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	[1]	1.75%
SPL Revolving Credit Facility | Base Rate [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	[1]	0%
SPL Revolving Credit Facility | Base Rate [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	[1]	0.75%
CQP Revolving Credit Facility
Line of Credit Facility [Line Items]
Total facility size | $		$ 1,000
Outstanding balance | $		0	$ 0
Letters of credit issued | $		0
Available commitment | $		$ 1,000
Debt Instrument, Description of Variable Rate Basis		SOFR or base rate
Debt Instrument, Maturity Date		Jun. 23, 2028
CQP Revolving Credit Facility | Minimum [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Commitment Fee Percentage	[1]	0.10%
CQP Revolving Credit Facility | Maximum [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Commitment Fee Percentage	[1]	0.30%
CQP Revolving Credit Facility | SOFR
Line of Credit Facility [Line Items]
Debt Instrument, Credit Spread Adjustment On Variable Rate	[1]	0.10%
CQP Revolving Credit Facility | SOFR | Minimum [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	[1]	1.125%
CQP Revolving Credit Facility | SOFR | Maximum [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	[1]	2%
CQP Revolving Credit Facility | Base Rate [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	[1]	0.125%
CQP Revolving Credit Facility | Base Rate [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	[1]	1%
[1] The margin on the interest rate and the commitment fees is subject to change based on the applicable entity’s credit rating.

Debt - Interest Expense (Detail

Debt - Interest Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Debt Disclosure [Abstract]
Total interest cost	$ 201	$ 207	$ 609	$ 626
Capitalized interest	(2)	(2)	(6)	(6)
Total interest expense, net of capitalized interest	$ 199	$ 205	$ 603	$ 620

Debt - Schedule of Carrying Val

Debt - Schedule of Carrying Values and Estimated Fair Values of Debt Instruments (Details) - Senior Notes [Member] - USD ($) $ in Millions		Sep. 30, 2024	Dec. 31, 2023
Carrying Amount [Member] | Fair Value, Inputs, Level 2 and Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount, Debt		$ 15,582	$ 16,032
Estimated Fair Value [Member] | Fair Value, Inputs, Level 2 and Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes, Estimated Fair Value	[1]	15,490	15,636
Estimated Fair Value [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes, Estimated Fair Value		$ 1,300	$ 1,300
[1] As of both September 30, 2024 and December 31, 2023, $1.3 billion of the fair value of our senior notes were classified as Level 3 since these senior notes were valued by applying an unobservable illiquidity adjustment to the price derived from trades or indicative bids of instruments with similar terms, maturities and credit standing. The remainder of the fair value of our senior notes are classified as Level 2, based on prices derived from trades or indicative bids of the instruments.

Revenues - Schedule of Disaggre

Revenues - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 2,055	$ 2,128	$ 6,244	$ 6,978
LNG [Member] | Nonrelated Party [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1,479	1,564	4,653	5,085
LNG [Member] | Affiliate [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	526	515	1,441	1,745
Regasification [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	34	34	102	101
Other [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 16	$ 15	$ 48	$ 47

Revenues - Contract Assets and

Revenues - Contract Assets and Liabilities (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract assets, net of current expected credit losses	$ 1	$ 1
Change In Contract With Customer, Liability [Roll Forward]
Deferred revenues, beginning of period	190
Cash received but not yet recognized in revenue	237
Revenue recognized from prior period deferral	(190)
Deferred revenues, end of period	237
Affiliate [Member]
Change In Contract With Customer, Liability [Roll Forward]
Deferred revenues, beginning of period	5
Cash received but not yet recognized in revenue	5
Revenue recognized from prior period deferral	(5)
Deferred revenues, end of period	$ 5

Revenues - Schedule of Transact

Revenues - Schedule of Transaction Price Allocated to Future Performance Obligations (Details) - USD ($) $ in Billions		Sep. 30, 2024	Dec. 31, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied Transaction Price			$ 49.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied Transaction Price		$ 46.6
LNG [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | Nonrelated Party [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied Transaction Price	[1]		$ 47.6
Weighted Average Recognition Timing	[1],[2]		8 years
LNG [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | Affiliate [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied Transaction Price			$ 1.4
Weighted Average Recognition Timing	[2]		2 years
LNG [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 | Nonrelated Party [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied Transaction Price	[1]	$ 45.2
Weighted Average Recognition Timing	[1],[2]	7 years
LNG [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 | Affiliate [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied Transaction Price		$ 0.8
Weighted Average Recognition Timing	[2]	1 year
Regasification [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied Transaction Price			$ 0.7
Weighted Average Recognition Timing	[2]		3 years
Regasification [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied Transaction Price		$ 0.6
Weighted Average Recognition Timing	[2]	3 years
[1] We may enter into contracts to sell LNG that are conditioned upon one or both of the parties achieving certain milestones such as reaching FID on a certain liquefaction Train, obtaining financing or achieving substantial completion of a Train and any related facilities. These contracts are included in the transaction price above when the conditions are considered probable of being met and consideration is not otherwise constrained from ultimate pricing and receipt. The weighted average recognition timing represents an estimate of the number of years during which we shall have recognized half of the unsatisfied transaction price.

Revenues - Remaining Performanc

Revenues - Remaining Performance Obligation, Variable Consideration (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
LNG [Member] | Nonrelated Party [Member]
Revenue, Remaining Performance Obligation, Variable Consideration [Line Items]
Revenue, Variable Consideration Received From Customers, Percentage	50%	53%	49%	55%
LNG [Member] | Affiliate [Member]
Revenue, Remaining Performance Obligation, Variable Consideration [Line Items]
Revenue, Variable Consideration Received From Customers, Percentage	65%	64%	63%	68%
Regasification [Member]
Revenue, Remaining Performance Obligation, Variable Consideration [Line Items]
Revenue, Variable Consideration Received From Customers, Percentage	8%	7%	8%	7%

Related Party Transactions - Sc

Related Party Transactions - Schedule of Related Party Transactions (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Related Party Transaction [Line Items]
Revenues		$ 2,055	$ 2,128	$ 6,244	$ 6,978
Cost of sales		773	684	2,402	1,618
Operating and maintenance expense		256	263	777	844
General and administrative expense		25	22	76	74
Other operating costs and expenses		3	5	12	7
Affiliate [Member]
Related Party Transaction [Line Items]
Cost of sales		0	2	4	20
Operating and maintenance expense		41	38	123	120
General and administrative expense		23	20	68	66
Other operating costs and expenses		1	1	2	1
Related Party [Member]
Related Party Transaction [Line Items]
Operating and maintenance expense		15	14	44	44
LNG [Member]
Related Party Transaction [Line Items]
Revenues		2,005	2,079	6,094	6,830
LNG [Member] | Affiliate [Member]
Related Party Transaction [Line Items]
Revenues		526	515	1,441	1,745
Cheniere Marketing Agreements [Member] | Affiliate [Member]
Related Party Transaction [Line Items]
Cost of sales		0	0	4	0
Cheniere Marketing Agreements [Member] | LNG [Member] | Affiliate [Member]
Related Party Transaction [Line Items]
Revenues		526	513	1,441	1,742
Contracts for Sale and Purchase of Natural Gas And LNG [Member] | Affiliate [Member]
Related Party Transaction [Line Items]
Cost of sales		0	2	0	20
Contracts for Sale and Purchase of Natural Gas And LNG [Member] | LNG [Member] | Affiliate [Member]
Related Party Transaction [Line Items]
Revenues		0	2	0	3
Service Agreements [Member] | Affiliate [Member]
Related Party Transaction [Line Items]
Operating and maintenance expense		41	38	123	120
General and administrative expense		23	20	68	66
Other operating costs and expenses		1	1	2	1
Natural Gas Transportation and Storage Agreements [Member] | Related Party [Member]
Related Party Transaction [Line Items]
Operating and maintenance expense	[1]	$ 15	$ 14	$ 44	$ 44
[1] These arrangements are with a party who indirectly owns a portion of our limited partner interests.

Related Party Transactions - Ot

Related Party Transactions - Other Agreements (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Tug Services [Member] | Cheniere Terminals [Member] | Terminal Marine Services Agreement [Member]
Related Party Transaction [Line Items]
General Partner Distributions	$ 4	$ 8

Net Income per Common Unit (Det

Net Income per Common Unit (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions			3 Months Ended						9 Months Ended
		Oct. 25, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net Income			$ 635	$ 570	$ 682	$ 791	$ 622	$ 1,935	$ 1,887	$ 3,348
Declared distributions			501			714			1,503	2,142
Assumed allocation of undistributed net income	[1]		$ 134			$ 77			$ 384	$ 1,206
Weighted average units outstanding			484			484			484	484
Basic and diluted net income (loss) per unit	[2]		$ 1.08			$ 1.19			$ 3.21	$ 5.53
Common Units [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net Income			$ 622	559	668	$ 774	610	1,897
Declared distributions			392			499			$ 1,176	$ 1,496
Assumed allocation of undistributed net income	[1]		132			75			376	1,181
Assumed allocation of net income			$ 524			$ 574			$ 1,552	$ 2,677
Weighted average units outstanding						484				484
Basic and diluted net income (loss) per unit			$ 1.08			$ 1.19			$ 3.21	$ 5.53
Common Units [Member] | Subsequent Event [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Distribution Made to Limited Partner, Distributions Declared, Per Unit		$ 0.810
Common Units [Member] | Subsequent Event [Member] | Base Amount [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Distribution Made to Limited Partner, Distributions Declared, Per Unit		0.775
Common Units [Member] | Subsequent Event [Member] | Variable Amount [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Distribution Made to Limited Partner, Distributions Declared, Per Unit		$ 0.035
General Partner [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net Income			$ 13	$ 11	$ 14	$ 17	$ 12	$ 38
Declared distributions			10			14			$ 30	$ 43
Assumed allocation of undistributed net income	[1]		3			1			8	24
Assumed allocation of net income			13			15			38	67
IDR [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Declared distributions			99			201			297	603
Assumed allocation of undistributed net income	[1]		0			0			0	0
Assumed allocation of net income			$ 99			$ 201			$ 297	$ 603
[1] Under our partnership agreement, the IDRs participate in net income only to the extent of the amount of cash distributions actually declared, thereby excluding the IDRs from participating in undistributed net income. In computing basic and diluted net income per common unit, net income is reduced by the amount of undistributed net income allocated to participating securities other than common units, as required under the two-class method. See Note 11—Net Income per Common Unit .

Customer Concentration - Schedu

Customer Concentration - Schedule of Customer Concentration (Details) - Customer Concentration Risk [Member]	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Total Revenues from External Customers [Member] | Customer A [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	17%	17%	22%	23%
Total Revenues from External Customers [Member] | Customer B [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	18%	17%	15%	16%
Total Revenues from External Customers [Member] | Customer C [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	15%	18%	15%	16%
Total Revenues from External Customers [Member] | Customer D [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	16%	15%	14%	15%
Total Revenues from External Customers [Member] | Customer E [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage		10%	11%	11%
Accounts Receivable And Contract Assets | Customer A [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage			17%		22%
Accounts Receivable And Contract Assets | Customer B [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage					16%
Accounts Receivable And Contract Assets | Customer C [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage			16%		12%
Accounts Receivable And Contract Assets | Customer D [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage			12%		15%
Accounts Receivable And Contract Assets | Customer E [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage					12%
Accounts Receivable And Contract Assets | Customer F [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage			11%

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023
Supplemental Cash Flow Information [Abstract]
Cash paid during the period for interest on debt, net of amounts capitalized		$ 671	$ 658
Unpaid purchases of property, plant and equipment, net (1)	[1]	20	31
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	[2]	3	0
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	[3]	59	$ 0
Right-Of-Use Asset Obtained In Exchange For Finance Lease Liability, Reclassification From Operating Lease		33
Right-Of-Use Asset Obtained In Exchange For Operating Lease Liability, Reclassification From Finance Lease		$ 15
[1] Reflects unpaid portion, as of the end of each period, of assets and liabilities recognized during the respective periods. Net of $33 million reclassified from operating leases to finance leases during the nine months ended September 30, 2024, as a result of modifications of the underlying tug vessel leases.