Sabine Pass Liquefaction 10-Q 30 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - Jun. 30, 2015 - shares	Total
Document and Entity Information [Abstract]
Entity Registrant Name	Sabine Pass Liquefaction, LLC
Entity Central Index Key	1,499,200
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding	0

Balance Sheets

Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current assets
Cash and cash equivalents	$ 0	$ 0
Restricted cash	340,545	155,810
Accounts receivable—affiliate	1,255	2,750
Advances to affiliate	15,586	23,969
Other current assets	7,308	3,541
Other current assets—affiliate	5,251	153
Total current assets	369,945	186,223
Non-current restricted cash	655,970	457,053
Property, plant and equipment, net	8,420,767	6,962,395
Debt issuance costs, net	281,623	228,913
Non-current derivative assets	426	11,744
Other non-current assets	118,054	99,417
Total assets	9,846,785	7,945,745
Current liabilities
Accounts payable	5,054	5,974
Accrued liabilities	286,501	113,538
Due to affiliates	41,091	13,051
Derivative liabilities	7,839	23,247
Other current liabilities	60	0
Total current liabilities	340,545	155,810
Long-term debt, net	8,516,202	6,517,266
Non-current derivative liabilities	653	268
Member’s equity	989,385	1,272,401
Total liabilities and member’s equity	$ 9,846,785	$ 7,945,745

Statements of Operations

Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Revenues	$ 0	$ 0	$ 0	$ 0
Expenses
Development expense	1,367	3,792	2,518	7,288
Development expense—affiliate	206	242	410	394
General and administrative expense	1,562	1,823	2,720	3,346
General and administrative expense—affiliate	24,791	15,462	39,366	35,429
Terminal use agreement maintenance expense (recovery)	(279)	14,906	17,521	14,433
Terminal use agreement maintenance expense—affiliate	143	106	178	337
Depreciation expense	412	269	818	361
Operating and maintenance expense	997	2,035	3,406	2,035
Operating and maintenance expense—affiliate	78	5	128	5
Total expenses	29,277	38,640	67,065	63,628
Loss from operations	(29,277)	(38,640)	(67,065)	(63,628)
Other income (expense)
Interest expense, net	(12,915)	0	(19,309)	0
Loss on early extinguishment of debt	(7,281)	(114,335)	(96,273)	(114,335)
Derivative gain (loss), net	1,214	(60,255)	(35,225)	(95,178)
Other income (expense)	158	(247)	222	(176)
Total other expense	(18,824)	(174,837)	(150,585)	(209,689)
Net loss	$ (48,101)	$ (213,477)	$ (217,650)	$ (273,317)

Statement of Member's Equity

Statement of Member's Equity - 6 months ended Jun. 30, 2015 - USD ($) $ in Thousands	Total	Sabine Pass LNG-LP, LLC [Member]
Members' equity, beginning of period at Dec. 31, 2014	$ 1,272,401	$ 1,272,401
Capital contributions from Cheniere Partners	15,149	15,149
Non-cash distributions to limited partner for conveyance of assets under the Cooperation Agreement	(80,515)
Net loss	(217,650)	(217,650)
Member's equity, end of period at Jun. 30, 2015	$ 989,385	$ 989,385

Statements of Cash Flows

Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities
Net loss	$ (217,650)	$ (273,317)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation expense	818	361
Non-cash terminal use agreement maintenance expense	16,417	14,978
Total losses on derivatives, net	35,144	95,178
Net cash used for settlement of derivative instruments	(38,171)	(17,864)
Loss on extinguishment of debt	96,273	114,335
Changes in restricted cash for certain operating activities	37,976	71,977
Changes in operating assets and liabilities:
LNG inventory	1,864	(16,217)
Accounts payable	(254)	1,758
Accrued liabilities	75,062	229
Due to affiliates	9,467	1,484
Advances to affiliate	8,383	9,108
Other, net	(4,996)	(3,750)
Other—affiliate	(20,333)	1,740
Net cash provided by (used in) operating activities	0	0
Cash flows from investing activities
Property, plant and equipment, net	(1,398,960)	(1,257,563)
Use of restricted cash for the acquisition of property, plant and equipment	1,448,523	1,255,046
Other	(49,563)	2,517
Net cash provided by (used in) investing activities	0	0
Cash flows from financing activities
Proceeds from issuances of long-term debt	2,000,000	2,584,500
Repayments of Long-term Debt	0	(177,000)
Contributions from Cheniere Partners	15,149	9,715
Investment in restricted cash	(1,870,151)	(2,332,018)
Debt issuance and deferred financing costs	(144,998)	(85,197)
Net cash provided by (used in) financing activities	0	0
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents—beginning of period	0	0
Cash and cash equivalents—end of period	$ 0	$ 0

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	BASIS OF PRESENTATION The accompanying unaudited Financial Statements of SPL have been prepared in accordance with GAAP for interim financial information and with Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In our opinion, all adjustments, consisting only of normal recurring adjustments necessary for a fair presentation, have been included. Certain reclassifications have been made to conform prior period information to the current presentation. The reclassifications had no effect on our overall financial position, results of operations or cash flows. Results of operations for the three and six months ended June 30, 2015 are not necessarily indicative of the results of operations that will be realized for the year ending December 31, 2015 . We are a disregarded entity for federal and state income tax purposes. Our taxable income or loss, which may vary substantially from the net income or loss reported on our Statements of Operations, is able to be included in the federal income tax return of Cheniere Partners, a publicly traded partnership which indirectly owns us. Accordingly, no provision or liability for federal or state income taxes is included in the accompanying Financial Statements. For further information, refer to the Financial Statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2014 . In June 2014, the Financial Accounting Standards Board (the “FASB”) amended its guidance on development stage entities. The amendment removed all incremental financial reporting requirements from GAAP for development stage entities. This guidance is effective for interim and annual periods beginning after December 15, 2014, with early adoption permitted. We adopted this guidance in the quarterly period ended June 30, 2014. Prior to our adoption of this guidance, we were a development stage entity because we devote substantially all of our efforts to establishing a new natural gas liquefaction business and for which planned principal operations have not commenced. The adoption of this guidance did not have a material impact on our financial position, results of operations or cash flows other than the removal of inception-to-date information about statement of operations line items, cash flows and equity transactions.

Restricted Cash

Restricted Cash	6 Months Ended
	Jun. 30, 2015
Cash and Cash Equivalents [Abstract]
Restricted Cash	RESTRICTED CASH Restricted cash consists of funds that are contractually restricted as to usage or withdrawal and have been presented separately from cash and cash equivalents on our Balance Sheets. During 2013, we entered into four credit facilities aggregating $5.9 billion (collectively, the “2013 Credit Facilities”). In June 2015, we entered into four credit facilities aggregating $4.6 billion (collectively, the “2015 Credit Facilities”), which replaced the 2013 Credit Facilities. Under the terms and conditions of the 2015 Credit Facilities, we are required to deposit all cash received into reserve accounts controlled by a collateral trustee. The usage or withdrawal of such cash is restricted to the payment of liabilities related to our natural gas liquefaction facilities in Cameron Parish, Louisiana (the “Liquefaction Project”); therefore, these amounts are shown as restricted cash on our Balance Sheets. During 2013, we issued an aggregate principal amount of $2.0 billion , before premium, of 5.625% Senior Secured Notes due 2021 (the “2021 Senior Notes”), $1.0 billion of 6.25% Senior Secured Notes due 2022 (the “2022 Senior Notes”) and $1.0 billion of 5.625% Senior Secured Notes due 2023 (the “Initial 2023 Senior Notes”). During 2014, we issued an aggregate principal amount of $2.0 billion of 5.75% Senior Secured Notes due 2024 (the “2024 Senior Notes”) and additional 5.625% Senior Secured Notes due 2023 (the “Additional 2023 Senior Notes” and collectively with the Initial 2023 Senior Notes, the “2023 Senior Notes”) in an aggregate principal amount of $0.5 billion , before premium. In March 2015, we issued an aggregate principal amount of $2.0 billion of 5.625% Senior Secured Notes due 2025 (the “2025 Senior Notes” and collectively with the 2021 Senior Notes, the 2022 Senior Notes, the 2023 Senior Notes and the 2024 Senior Notes, the “Senior Notes”). The use of cash proceeds from the Senior Notes is restricted to the payment of liabilities related to the Liquefaction Project; therefore, these amounts are shown as restricted cash on our Balance Sheets. See Note 6—Long-Term Debt for additional details about our long-term debt. As of June 30, 2015 and December 31, 2014 , we classified $340.5 million and $155.8 million , respectively, as current restricted cash for the payment of current liabilities, including interest payments, related to the Liquefaction Project and $656.0 million and $457.1 million , respectively, as non-current restricted cash for future Liquefaction Project construction costs.

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consists of LNG terminal costs and fixed assets, as follows (in thousands): June 30, December 31, 2015 2014 LNG terminal costs LNG terminal $ 13,171 $ 12,821 LNG terminal construction-in-process 8,403,210 6,946,242 Accumulated depreciation (446 ) (260 ) Total LNG terminal costs, net 8,415,935 6,958,803 Fixed assets Vehicles 1,337 854 Furniture and fixtures 1,154 1,154 Machinery and equipment 339 339 Other 3,680 2,292 Accumulated depreciation (1,678 ) (1,047 ) Total fixed assets, net 4,832 3,592 Property, plant and equipment, net $ 8,420,767 $ 6,962,395

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	DERIVATIVE INSTRUMENTS We have entered into the following derivative instruments that are reported at fair value: • commodity derivatives to hedge the exposure to price risk attributable to future sales of our LNG inventory (“Natural Gas Derivatives”); • commodity derivatives consisting of natural gas purchase agreements and associated economic hedges to secure natural gas feedstock for the Liquefaction Project (“Liquefaction Supply Derivatives”); and • interest rate swaps to hedge the exposure to volatility in a portion of the floating-rate interest payments under the 2015 Credit Facilities (“Interest Rate Derivatives”). None of our derivative instruments are designated as cash flow hedging instruments, and changes in fair value are recorded within our Statements of Operations . The following table (in thousands) shows the fair value of our derivative instruments that are required to be measured at fair value on a recurring basis as of June 30, 2015 and December 31, 2014 , which are classified as other current assets , non-current derivative assets , derivative liabilities and non-current derivative liabilities in our Balance Sheets. Fair Value Measurements as of June 30, 2015 December 31, 2014 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Natural Gas Derivatives asset $ — $ 163 $ — $ 163 $ — $ 1,071 $ — $ 1,071 Liquefaction Supply Derivatives asset (liability) — (27 ) 440 413 — — 342 342 Interest Rate Derivatives liability — (8,172 ) — (8,172 ) — (12,036 ) — (12,036 ) The estimated fair values of our Natural Gas Derivatives and the economic hedges related to our Liquefaction Supply Derivatives are the amounts at which the instruments could be exchanged currently between willing parties. We value these derivatives using observable commodity price curves and other relevant data. We value our Interest Rate Derivatives using valuations based on the initial trade prices. Using an income-based approach, subsequent valuations are based on observable inputs to the valuation model including interest rate curves, risk adjusted discount rates, credit spreads and other relevant data. The fair value of substantially all of our Liquefaction Supply Derivatives is developed through the use of internal models which are impacted by inputs that are unobservable in the marketplace. As a result, the fair value of our Liquefaction Supply Derivatives is designated as Level 3 within the valuation hierarchy. The curves used to generate the fair value of our Liquefaction Supply Derivatives are based on basis adjustments applied to forward curves for a liquid trading point. In addition, there may be observable liquid market basis information in the near term, but terms of a particular Liquefaction Supply Derivatives contract may exceed the period for which such information is available, resulting in a Level 3 classification. In these instances, fair value of the contract incorporates extrapolation assumptions made in the determination of the market basis price for future delivery periods in which applicable commodity basis prices were either not observable or lacked corroborative market data. Internal fair value models that include contractual pricing with a fixed basis include fixed basis amounts for delivery at locations for which no market currently exists. Internal fair value models also include conditions precedent to the respective long-term natural gas purchase agreements. As of June 30, 2015 and December 31, 2014 , the majority of our Liquefaction Supply Derivatives existed within markets for which the pipeline infrastructure has not been developed to accommodate marketable physical gas flow. Therefore, our internal fair value models were based on a market price that equated to our own contractual pricing due to: (1) the inactive and unobservable market and (2) conditions precedent and their impact on the uncertainty in the timing of our actual receipt of the physical volumes associated with each forward. The fair value of our Liquefaction Supply Derivatives is predominantly driven by market commodity basis prices and our assessment of the associated conditions precedent, including evaluating whether the respective market is available as pipeline infrastructure is developed. There were no transfers into or out of Level 3 Liquefaction Supply Derivatives for the three and six months ended June 30, 2015 and 2014 . As all of our physical Liquefaction Supply Derivatives are either purely index-priced or index-priced with a fixed basis, we do not believe that a significant change in market commodity prices would have a material impact on our Level 3 fair value measurements. The following table (in thousands, except natural gas basis spread) includes quantitative information for the unobservable inputs for the Level 3 Liquefaction Supply Derivatives as of June 30, 2015 : Net Fair Value Asset Valuation Technique Significant Unobservable Input Significant Unobservable Inputs Range Liquefaction Supply Derivatives $440 Income Approach Basis Spread $ (0.350) - $0.020 Derivative assets and liabilities arising from our derivative contracts with the same counterparty are reported on a net basis, as all counterparty derivative contracts provide for net settlement. Commodity Derivatives We recognize all commodity derivative instruments, including our Natural Gas Derivatives and our Liquefaction Supply Derivatives (collectively, “Commodity Derivatives”), as either assets or liabilities and measure those instruments at fair value. Changes in the fair value of our Commodity Derivatives are reported in earnings. The following table (in thousands) shows the fair value and location of our Commodity Derivatives on our Balance Sheets: June 30, 2015 December 31, 2014 Natural Gas Derivatives (1) Liquefaction Supply Derivatives Total Natural Gas Derivatives (1) Liquefaction Supply Derivatives Total Balance Sheet Location Other current assets $ 163 $ 307 $ 470 $ 1,071 $ 76 $ 1,147 Non-current derivative assets — 426 426 — 586 586 Total derivative assets 163 733 896 1,071 662 1,733 Derivative liabilities — (222 ) (222 ) — (53 ) (53 ) Non-current derivative liabilities — (98 ) (98 ) — (267 ) (267 ) Total derivative liabilities — (320 ) (320 ) — (320 ) (320 ) Derivative asset, net $ 163 $ 413 $ 576 $ 1,071 $ 342 $ 1,413 (1) Does not include a collateral deposit of $0.2 million and a collateral call of $1.0 million for such contracts, which are included in other current assets in our Balance Sheets as of June 30, 2015 and December 31, 2014 , respectively. The following table (in thousands) shows the changes in the fair value and settlements and location of our Commodity Derivatives recorded on our Statements of Operations during the three and six months ended June 30, 2015 and 2014 : Three Months Ended June 30, Six Months Ended June 30, Statement of Operations Location 2015 2014 2015 2014 Natural Gas Derivatives gain (loss) Derivative gain (loss), net $ (255 ) $ (133 ) $ 444 $ (577 ) Liquefaction Supply Derivatives gain (1) Operating and maintenance expense 81 — 81 — (1) There were no physical settlements during the reporting period. The use of Commodity Derivatives exposes us to counterparty credit risk, or the risk that a counterparty will be unable to meet its commitments in instances when our Commodity Derivatives are in an asset position. Natural Gas Derivatives Our Natural Gas Derivatives are executed through over-the-counter contracts which are subject to nominal credit risk as these transactions are settled on a daily margin basis with investment grade financial institutions. We are required by these financial institutions to use margin deposits as credit support for our Natural Gas Derivatives activities. Liquefaction Supply Derivatives We have entered into index-based physical natural gas supply contracts and associated economic hedges to secure natural gas feedstock for the Liquefaction Project. The terms of the physical contracts range from approximately one to seven years and commence upon the occurrence of conditions precedent, including the date of first commercial operation of specified Trains of the Liquefaction Project. We recognize our Liquefaction Supply Derivatives as either assets or liabilities and measure those instruments at fair value. Changes in the fair value of our Liquefaction Supply Derivatives are reported in earnings. As of June 30, 2015 , we have secured up to approximately 2,162.8 million MMBtu of natural gas feedstock through long-term natural gas purchase agreements, of which the forward notional natural gas buy position of our Liquefaction Supply Derivatives was approximately 1,250.3 million MMBtu, which were recorded as derivatives due to minimum purchase requirements. Interest Rate Derivatives We have entered into Interest Rate Derivatives to protect against volatility of future cash flows and hedge a portion of the variable interest payments on the 2015 Credit Facilities. The Interest Rate Derivatives hedge a portion of the expected outstanding borrowings over the term of the 2015 Credit Facilities. In March 2015, we settled a portion of our interest rate derivatives related to the 2013 Credit Facilities and recognized a derivative loss of $34.7 million within our Statements of Operations in conjunction with the termination of approximately $1.8 billion of commitments under the 2013 Credit Facilities, as discussed in Note 6—Long-Term Debt . In May 2014, we settled a portion of our interest rate derivatives related to the 2013 Credit Facilities and recognized a derivative loss of $9.3 million within our Statements of Operations in conjunction with the early termination of approximately $2.1 billion of commitments under the 2013 Credit Facilities. At June 30, 2015 , we had the following Interest Rate Derivatives outstanding: Initial Notional Amount Maximum Notional Amount Effective Date Maturity Date Weighted Average Fixed Interest Rate Paid Variable Interest Rate Received Interest Rate Derivatives $20.0 million $690.8 million August 14, 2012 July 31, 2019 1.98% One-month LIBOR The following table (in thousands) shows the fair value of our Interest Rate Derivatives: Fair Value Measurements as of Balance Sheet Location June 30, 2015 December 31, 2014 Interest Rate Derivatives Non-current derivative assets (Other non-current liabilities) $ (555 ) $ 11,158 Interest Rate Derivatives Derivative liabilities (7,617 ) (23,194 ) The following table (in thousands) shows the changes in the fair value and settlements of our Interest Rate Derivatives recorded in derivative gain (loss), net on our Statements of Operations during the three and six months ended June 30, 2015 and 2014 : Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Interest Rate Derivatives gain (loss) $ 1,469 $ (60,122 ) $ (35,669 ) $ (94,601 ) Balance Sheet Presentation Our Commodity Derivatives and Interest Rate Derivatives are presented on a net basis on our Balance Sheets as described above. The following table (in thousands) shows the fair value of our derivatives outstanding on a gross and net basis: Gross Amounts Recognized Gross Amounts Offset in the Balance Sheets Net Amounts Presented in the Balance Sheets Offsetting Derivative Assets (Liabilities) As of June 30, 2015 Natural Gas Derivatives $ 241 $ (78 ) $ 163 Liquefaction Supply Derivatives 733 — 733 Liquefaction Supply Derivatives (320 ) — (320 ) Interest Rate Derivatives (8,172 ) — (8,172 ) As of December 31, 2014 Natural Gas Derivatives 1,079 (8 ) 1,071 Liquefaction Supply Derivatives 662 — 662 Liquefaction Supply Derivatives (320 ) — (320 ) Interest Rate Derivatives 11,158 — 11,158 Interest Rate Derivatives (23,194 ) — (23,194 )

Accrued Liabilities

Accrued Liabilities	6 Months Ended
	Jun. 30, 2015
Accrued Liabilities [Abstract]
Accrued Liabilities	ACCRUED LIABILITIES As of June 30, 2015 and December 31, 2014 , accrued liabilities consisted of the following (in thousands): June 30, December 31, 2015 2014 Interest expense and related debt fees $ 209,692 $ 97,785 LNG liquefaction costs 76,809 15,753 Total accrued liabilities $ 286,501 $ 113,538

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Long-term Debt	LONG-TERM DEBT As of June 30, 2015 and December 31, 2014 , our long-term debt consisted of the following (in thousands): Interest June 30, December 31, Rate 2015 2014 Long-term debt 2021 Senior Notes 5.625% $ 2,000,000 $ 2,000,000 2022 Senior Notes 6.250% 1,000,000 1,000,000 2023 Senior Notes 5.625% 1,500,000 1,500,000 2024 Senior Notes 5.750% 2,000,000 2,000,000 2025 Senior Notes 5.625% 2,000,000 — 2015 Credit Facilities (1) (2) — — Total long-term debt 8,500,000 6,500,000 Long-term debt premium 2021 Senior Notes 9,457 10,177 2023 Senior Notes 6,745 7,089 Total long-term debt, net $ 8,516,202 $ 6,517,266 (1) Matures on the earlier of December 31, 2020 or the second anniversary of the completion date of Trains 1 through 5 of the Liquefaction Project. (2) Variable interest rate, at our election, is LIBOR or the base rate plus the applicable margin. The applicable margins for LIBOR loans range from 1.30% to 1.75% , depending on the applicable 2015 Credit Facility, and the applicable margin for base rate loans is 1.75% . Interest on LIBOR loans is due and payable at the end of each LIBOR period, and interest on base rate loans is due and payable at the end of each quarter. For the three months ended June 30, 2015 and 2014 , we incurred $130.8 million and $95.2 million of total interest cost, respectively, of which we capitalized and deferred $117.9 million and $95.2 million , respectively, of interest cost, including amortization of debt issuance costs, primarily related to the construction of the first four Trains of the Liquefaction Project. For the six months ended June 30, 2015 and 2014 , we incurred $246.9 million and $178.7 million of total interest cost, respectively, of which we capitalized and deferred $227.6 million and $178.7 million , respectively, of interest cost, including amortization of debt issuance costs, primarily related to this construction. Senior Notes In March 2015, we issued an aggregate principal amount of $2.0 billion of the 2025 Senior Notes, for which borrowings accrue interest at a fixed rate of 5.625% . The terms of the 2025 Senior Notes are governed by the same common indenture with the other Senior Notes. In connection with the closing of the sale of the 2025 Senior Notes, we entered into a Registration Rights Agreement dated March 3, 2015 (the “2025 Registration Rights Agreement”). Under the terms of the 2025 Registration Rights Agreement, we have agreed, and any future guarantors of the 2025 Senior Notes will agree, to use commercially reasonable efforts to file with the SEC and cause to become effective a registration statement within 360 days after March 3, 2015 with respect to an offer to exchange any and all of the 2025 Senior Notes for a like aggregate principal amount of our debt securities with terms identical in all material respects to the respective 2025 Senior Notes sought to be exchanged (other than with respect to restrictions on transfer or to any increase in annual interest rate), and that are registered under the Securities Act of 1933, as amended. Under specified circumstances, we have also agreed, and any future guarantors will also agree, to use commercially reasonable efforts to cause to become effective a shelf registration statement relating to resales of the 2025 Senior Notes. We will be obligated to pay additional interest if we fail to comply with our obligation to register the 2025 Senior Notes within the specified time periods. 2015 Credit Facilities In June 2015, we entered into the 2015 Credit Facilities with commitments aggregating $4.6 billion . The 2015 Credit Facilities are being used to fund a portion of the costs of developing, constructing and placing into operation Trains 1 through 5 of the Liquefaction Project. Borrowings under the 2015 Credit Facilities may be refinanced, in whole or in part, at any time without premium or penalty; however, interest rate hedging and interest rate breakage costs may be incurred. As of June 30, 2015 , we had $4.6 billion of available commitments and no outstanding borrowings under the 2015 Credit Facilities. We incurred $89.9 million of debt issuance costs in connection with the 2015 SPL Credit Facilities. In addition to interest, we are required to pay insurance/guarantee premiums of 0.45% per annum on any drawn amounts under the covered tranches of the 2015 Credit Facilities. The 2015 Credit Facilities also require us to pay a quarterly commitment fee calculated at either: (1) a rate per annum equal to 40% of the applicable margin, multiplied by the average daily amount of the undrawn commitment, or (2) 0.70% of the undrawn commitment, depending on the applicable 2015 Credit Facility. The principal of the loans made under the 2015 Credit Facilities must be repaid in quarterly installments, commencing with the earlier of June 30, 2020 and the last day of the first full calendar quarter after the completion date of Trains 1 through 5 of the Liquefaction Project. Scheduled repayments are based upon an 18 -year amortization profile, with the remaining balance due upon the maturity of the 2015 Credit Facilities. The 2015 Credit Facilities contain conditions precedent for borrowings, as well as customary affirmative and negative covenants. Our obligations under the 2015 Credit Facilities are secured by substantially all of our assets as well as all of our membership interests on a pari passu basis with the Senior Notes. Under the terms of the 2015 Credit Facilities, within 90 days of the closing date, we are required to hedge not less than 65% of the variable interest rate exposure of our projected outstanding borrowings, calculated on a weighted average basis in comparison to our anticipated draw of principal. 2013 Credit Facilities In May 2013, we entered into the 2013 Credit Facilities to fund a portion of the costs of developing, constructing and placing into operation Trains 1 through 4 of the Liquefaction Project. As of December 31, 2014, we had no outstanding borrowings under the 2013 Credit Facilities. In June 2015, the 2013 Credit Facilities were replaced with the 2015 Credit Facilities. In March 2015, in conjunction with our issuance of the 2025 Senior Notes, we terminated approximately $1.8 billion of commitments under the 2013 Credit Facilities. This termination and the replacement of the 2013 Credit Facilities with the 2015 Credit Facilities in June 2015 resulted in a write-off of debt issuance costs and deferred commitment fees associated with the 2013 Credit Facilities of $7.3 million and $96.3 million for the three and six months ended June 30, 2015 , respectively. Senior LC Agreement In April 2014, we entered into a $325.0 million senior letter of credit and reimbursement agreement (the “Senior LC Agreement”) that we use for the issuance of letters of credit for certain working capital requirements related to the Liquefaction Project. We pay (1) a commitment fee in an amount equal to an annual rate of 0.75% of an amount equal to the unissued portion of letters of credit available pursuant to the Senior LC Agreement and (2) a letter of credit fee equal to an annual rate of 2.5% of the undrawn portion of all letters of credit issued under the Senior LC Agreement. If draws are made upon any letters of credit issued under the Senior LC Agreement, the amount of the draw will be deemed a loan issued to us. We are required to pay the full amount of this loan on or prior to the business day immediately succeeding the deemed issuance of the loan. These loans accrue interest at a rate of 2.0% plus the base rate as defined in the Senior LC Agreement. As of June 30, 2015 and December 31, 2014 , we had issued letters of credit in an aggregate amount of $72.9 million and $9.5 million , respectively, and as of both June 30, 2015 and December 31, 2014 , no draws had been made upon any letters of credit issued under the Senior LC Agreement. Fair Value Disclosures The following table (in thousands) shows the carrying amount and estimated fair value of our long-term debt: June 30, 2015 December 31, 2014 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value 2021 Senior Notes, net of premium (1) $ 2,009,457 $ 2,049,646 $ 2,010,177 $ 1,985,050 2022 Senior Notes (1) 1,000,000 1,027,500 1,000,000 1,020,000 2023 Senior Notes, net of premium (1) 1,506,745 1,493,561 1,507,089 1,476,947 2024 Senior Notes (1) 2,000,000 1,982,500 2,000,000 1,970,000 2025 Senior Notes (1) 2,000,000 1,960,000 — — 2015 Credit Facilities (2) — — — — (1) The Level 2 estimated fair value was based on quotations obtained from broker-dealers who make markets in these and similar instruments based on the closing trading prices on June 30, 2015 and December 31, 2014 , as applicable. (2) The Level 3 estimated fair value approximates the principal amount because the interest rates are variable and reflective of market rates and the debt may be repaid, in full or in part, at any time without penalty.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS Services Agreements We recorded general and administrative expense—affiliate of $24.7 million and $15.4 million and operating and maintenance expense—affiliate of $0.1 million and zero during the three months ended June 30, 2015 and 2014 , respectively, under the services agreements listed below. We recorded general and administrative expense—affiliate of $39.1 million and $35.2 million and operating and maintenance expense—affiliate of $0.1 million and zero during the six months ended June 30, 2015 and 2014 , respectively, under the services agreements listed below. Liquefaction O&M Agreement We have entered into an operation and maintenance agreement (the “Liquefaction O&M Agreement”) with Cheniere Investments, a wholly owned subsidiary of Cheniere Partners, pursuant to which we receive all of the necessary services required to construct, operate and maintain the Liquefaction Project. Before the Liquefaction Project is operational, the services to be provided include, among other services, obtaining governmental approvals on our behalf, preparing an operating plan for certain periods, obtaining insurance, preparing staffing plans and preparing status reports. After the Liquefaction Project is operational, the services include all necessary services required to operate and maintain the Liquefaction Project. Before the Liquefaction Project is operational, in addition to reimbursement of operating expenses, we are required to pay a monthly fee equal to 0.6% of the capital expenditures incurred in the previous month. After substantial completion of each Train, for services performed while the Liquefaction Project is operational, we will pay, in addition to the reimbursement of operating expenses, a fixed monthly fee of $83,333 (indexed for inflation) for services with respect to such Train. Cheniere Investments provides the services required under the Liquefaction O&M Agreement pursuant to a secondment agreement with a wholly owned subsidiary of Cheniere. Liquefaction MSA We have entered into a management services agreement with Cheniere Terminals pursuant to which Cheniere Terminals manages the construction and operation of the Liquefaction Project, excluding those matters provided for under the Liquefaction O&M Agreement. The services include, among other services, exercising the day-to-day management of our affairs and business, managing our regulatory matters, managing bank and brokerage accounts and financial books and records of our business and operations, entering into financial derivatives on our behalf and providing contract administration services for all contracts associated with the Liquefaction Project. We pay a monthly fee equal to 2.4% of the capital expenditures incurred in the previous month. After substantial completion of each Train, we will pay a fixed monthly fee of $541,667 for services with respect to such Train. Terminal Use Agreements We have entered into a TUA with SPLNG to provide berthing for LNG vessels and for the unloading, loading, storage and regasification of LNG. We have reserved approximately 2.0 Bcf/d of regasification capacity and we are obligated to make monthly capacity payments to SPLNG aggregating approximately $250 million per year, continuing until at least 20 years after we deliver our first commercial cargo at our facilities under construction. We obtained this reserved capacity as a result of an assignment in July 2012 by Cheniere Investments of its rights, title and interest under its TUA. In connection with the assignment, we, Cheniere Investments and SPLNG also entered into a terminal use rights assignment and agreement (the “TURA”) pursuant to which Cheniere Investments has the right to use our reserved capacity under the TUA and has the obligation to make the monthly capacity payments required by the TUA to SPLNG. Cheniere Investments’ right to use our capacity at the Sabine Pass LNG terminal will be reduced as each of Trains 1 through 4 reaches commercial operation. The percentage of the monthly capacity payments payable by Cheniere Investments will be reduced from 100% to zero (unless Cheniere Investments utilizes terminal use capacity after Train 4 reaches commercial operations), and the percentage of the monthly capacity payments payable by us will increase by the amount that Cheniere Investments’ percentage decreases. Cheniere Partners has guaranteed our obligations under our TUA and the obligations of Cheniere Investments under the TURA. In connection with our TUA, we are required to pay for a portion of the cost to maintain the cryogenic readiness of the regasification facilities at the Sabine Pass LNG terminal. Terminal use agreement maintenance expense—affiliate represents the amount recorded related to the reimbursement to SPLNG of a portion of its fuel costs related to maintaining the cryogenic readiness of the Sabine Pass LNG terminal. Our portion of the cost (including affiliate) to maintain the cryogenic readiness of the regasification facilities at the Sabine Pass LNG terminal is based on our approximately 41% share of the commercial LNG storage capacity at the Sabine Pass LNG terminal. During the three months ended June 30, 2015 and 2014 , we recorded a recovery of $0.1 million and expense of $15.0 million , respectively, and for the six months ended June 30, 2015 and 2014 , we recorded $17.7 million and $14.8 million , respectively, as terminal use agreement maintenance expense (including affiliate) on our Statements of Operations related to this obligation. Cheniere Marketing SPA Cheniere Marketing has entered into an amended and restated SPA with us to purchase, at Cheniere Marketing’s option, LNG produced by us in excess of that required for other customers at a price of 115% of Henry Hub plus $3.00 per MMBtu of LNG. Commissioning Agreement In May 2015, we entered into an agreement with a wholly owned subsidiary of Cheniere Marketing that obligates such subsidiary in certain circumstances to buy LNG cargoes produced during the periods while Bechtel Oil, Gas and Chemicals, Inc. has control of, and is commissioning, the first four Trains of the Liquefaction Project. Pre-commercial LNG Marketing Agreement In May 2015, we entered into an agreement with a wholly owned subsidiary of Cheniere Marketing that authorizes such subsidiary to act on our behalf to market and sell pre-commercial LNG that has not been accepted by BG Gulf Coast LNG, LLC. LNG Site Sublease Agreement We have entered into agreements with SPLNG to sublease a portion of the Sabine Pass LNG terminal site for the Liquefaction Project. The annual sublease payment is $1.0 million . The initial term of the sublease expires on December 31, 2034, with options to renew for multiple 10 -year extensions with similar terms as the initial term. The annual sublease payment will be adjusted for inflation every 5 years based on a consumer price index, as defined in the sublease agreement. We recorded $0.1 million of sublease expense as general and administrative expense—affiliate on our Statements of Operations for each of the three months ended June 30, 2015 and 2014 and $0.2 million for each of the six months ended June 30, 2015 and 2014 . State Tax Sharing Agreement In August 2012, we entered into a state tax sharing agreement with Cheniere. Under this agreement, Cheniere has agreed to prepare and file all state and local tax returns which we and Cheniere are required to file on a combined basis and to timely pay the combined state and local tax liability. If Cheniere, in its sole discretion, demands payment, we will pay to Cheniere an amount equal to the state and local tax that we would be required to pay if our state and local tax liability were calculated on a separate company basis. There have been no state and local taxes paid by Cheniere for which Cheniere could have demanded payment from us under this agreement; therefore, Cheniere has not demanded any such payments from us. The agreement is effective for tax returns due on or after August 2012. Cooperation Agreement We have entered into an agreement with SPLNG that allows us to retain and acquire certain rights to access the property and facilities that are owned by SPLNG for the purpose of constructing, modifying and operating the Liquefaction Project. In consideration for access given to us, we have agreed to transfer to SPLNG title of certain facilities, equipment and modifications, which SPLNG is obligated to operate and maintain. The term of this agreement is consistent with our TUA described above. Under this agreement, we conveyed to SPLNG $80.5 million of assets for each of the three and six months ended June 30, 2015 and zero and $0.7 million of assets for the three and six months ended June 30, 2014 , respectively.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Jun. 30, 2015
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	SUPPLEMENTAL CASH FLOW INFORMATION The following table provides supplemental disclosure of cash flow information (in thousands): Six Months Ended June 30, 2015 2014 Balance in property, plant and equipment, net funded with accounts payable and accrued liabilities (including affiliate) $ 232,923 $ 276,788 Non-cash distributions to limited partner for conveyance of assets under Cooperation Agreement 80,515 —

Recent Accounting Standards

Recent Accounting Standards	6 Months Ended
	Jun. 30, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Standards	RECENT ACCOUNTING STANDARDS In May 2014, the FASB amended its guidance on revenue recognition. The core principle of this amendment is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period, with earlier adoption not permitted. This guidance may be adopted either retrospectively to each prior reporting period presented or as a cumulative-effect adjustment as of the date of adoption. We are currently evaluating the impact of the provisions of this guidance on our Financial Statements and related disclosures. In August 2014, the FASB issued authoritative guidance that requires an entity’s management to evaluate, for each reporting period, whether there are conditions and events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the financial statements are issued. Additional disclosures are required if management concludes that conditions or events raise substantial doubt about the entity’s ability to continue as a going concern. This guidance is effective for annual reporting periods ending after December 15, 2016, and for annual periods and interim periods thereafter, with earlier adoption permitted. The adoption of this guidance is not expected to have an impact on our Financial Statements or related disclosures. In April 2015, the FASB issued authoritative guidance that requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the debt liability rather than as an asset. This guidance is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period, with earlier adoption permitted. This guidance must be adopted retrospectively to each prior reporting period presented and disclosures will be required for a change in accounting principles. We are currently evaluating the impact of the provisions of this guidance on our Balance Sheets. In July 2015, the FASB issued revised guidance related to the measurement of inventory. Inventory would be measured at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. This guidance is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period, with earlier adoption permitted. This guidance should be adopted prospectively. We are currently evaluating the impact of the provisions of this guidance on our Financial Statements and related disclosures.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation, Policy	The accompanying unaudited Financial Statements of SPL have been prepared in accordance with GAAP for interim financial information and with Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In our opinion, all adjustments, consisting only of normal recurring adjustments necessary for a fair presentation, have been included. Certain reclassifications have been made to conform prior period information to the current presentation. The reclassifications had no effect on our overall financial position, results of operations or cash flows.
Income Tax, Policy	We are a disregarded entity for federal and state income tax purposes. Our taxable income or loss, which may vary substantially from the net income or loss reported on our Statements of Operations, is able to be included in the federal income tax return of Cheniere Partners, a publicly traded partnership which indirectly owns us. Accordingly, no provision or liability for federal or state income taxes is included in the accompanying Financial Statements.

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment consists of LNG terminal costs and fixed assets, as follows (in thousands): June 30, December 31, 2015 2014 LNG terminal costs LNG terminal $ 13,171 $ 12,821 LNG terminal construction-in-process 8,403,210 6,946,242 Accumulated depreciation (446 ) (260 ) Total LNG terminal costs, net 8,415,935 6,958,803 Fixed assets Vehicles 1,337 854 Furniture and fixtures 1,154 1,154 Machinery and equipment 339 339 Other 3,680 2,292 Accumulated depreciation (1,678 ) (1,047 ) Total fixed assets, net 4,832 3,592 Property, plant and equipment, net $ 8,420,767 $ 6,962,395

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fair Value of Derivative Assets and Liabilities	The following table (in thousands) shows the fair value of our derivative instruments that are required to be measured at fair value on a recurring basis as of June 30, 2015 and December 31, 2014 , which are classified as other current assets , non-current derivative assets , derivative liabilities and non-current derivative liabilities in our Balance Sheets. Fair Value Measurements as of June 30, 2015 December 31, 2014 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Natural Gas Derivatives asset $ — $ 163 $ — $ 163 $ — $ 1,071 $ — $ 1,071 Liquefaction Supply Derivatives asset (liability) — (27 ) 440 413 — — 342 342 Interest Rate Derivatives liability — (8,172 ) — (8,172 ) — (12,036 ) — (12,036 )
Fair Value Inputs, Assets, Quantitative Information	The following table (in thousands, except natural gas basis spread) includes quantitative information for the unobservable inputs for the Level 3 Liquefaction Supply Derivatives as of June 30, 2015 : Net Fair Value Asset Valuation Technique Significant Unobservable Input Significant Unobservable Inputs Range Liquefaction Supply Derivatives $440 Income Approach Basis Spread $ (0.350) - $0.020
Derivative Net Presentation on Balance Sheets	The following table (in thousands) shows the fair value of our derivatives outstanding on a gross and net basis: Gross Amounts Recognized Gross Amounts Offset in the Balance Sheets Net Amounts Presented in the Balance Sheets Offsetting Derivative Assets (Liabilities) As of June 30, 2015 Natural Gas Derivatives $ 241 $ (78 ) $ 163 Liquefaction Supply Derivatives 733 — 733 Liquefaction Supply Derivatives (320 ) — (320 ) Interest Rate Derivatives (8,172 ) — (8,172 ) As of December 31, 2014 Natural Gas Derivatives 1,079 (8 ) 1,071 Liquefaction Supply Derivatives 662 — 662 Liquefaction Supply Derivatives (320 ) — (320 ) Interest Rate Derivatives 11,158 — 11,158 Interest Rate Derivatives (23,194 ) — (23,194 )
Commodity Contract [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fair Value of Derivative Instruments by Balance Sheet Location	The following table (in thousands) shows the fair value and location of our Commodity Derivatives on our Balance Sheets: June 30, 2015 December 31, 2014 Natural Gas Derivatives (1) Liquefaction Supply Derivatives Total Natural Gas Derivatives (1) Liquefaction Supply Derivatives Total Balance Sheet Location Other current assets $ 163 $ 307 $ 470 $ 1,071 $ 76 $ 1,147 Non-current derivative assets — 426 426 — 586 586 Total derivative assets 163 733 896 1,071 662 1,733 Derivative liabilities — (222 ) (222 ) — (53 ) (53 ) Non-current derivative liabilities — (98 ) (98 ) — (267 ) (267 ) Total derivative liabilities — (320 ) (320 ) — (320 ) (320 ) Derivative asset, net $ 163 $ 413 $ 576 $ 1,071 $ 342 $ 1,413 (1) Does not include a collateral deposit of $0.2 million and a collateral call of $1.0 million for such contracts, which are included in other current assets in our Balance Sheets as of June 30, 2015 and December 31, 2014 , respectively.
Derivative Instruments, Gain (Loss)	The following table (in thousands) shows the changes in the fair value and settlements and location of our Commodity Derivatives recorded on our Statements of Operations during the three and six months ended June 30, 2015 and 2014 : Three Months Ended June 30, Six Months Ended June 30, Statement of Operations Location 2015 2014 2015 2014 Natural Gas Derivatives gain (loss) Derivative gain (loss), net $ (255 ) $ (133 ) $ 444 $ (577 ) Liquefaction Supply Derivatives gain (1) Operating and maintenance expense 81 — 81 — (1) There were no physical settlements during the reporting period.
Interest Rate Derivatives [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Schedule of Notional Amounts of Outstanding Derivative Positions	At June 30, 2015 , we had the following Interest Rate Derivatives outstanding: Initial Notional Amount Maximum Notional Amount Effective Date Maturity Date Weighted Average Fixed Interest Rate Paid Variable Interest Rate Received Interest Rate Derivatives $20.0 million $690.8 million August 14, 2012 July 31, 2019 1.98% One-month LIBOR
Fair Value of Derivative Instruments by Balance Sheet Location	The following table (in thousands) shows the fair value of our Interest Rate Derivatives: Fair Value Measurements as of Balance Sheet Location June 30, 2015 December 31, 2014 Interest Rate Derivatives Non-current derivative assets (Other non-current liabilities) $ (555 ) $ 11,158 Interest Rate Derivatives Derivative liabilities (7,617 ) (23,194 )
Derivative Instruments, Gain (Loss)	The following table (in thousands) shows the changes in the fair value and settlements of our Interest Rate Derivatives recorded in derivative gain (loss), net on our Statements of Operations during the three and six months ended June 30, 2015 and 2014 : Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Interest Rate Derivatives gain (loss) $ 1,469 $ (60,122 ) $ (35,669 ) $ (94,601 )

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
	Jun. 30, 2015
Accrued Liabilities [Abstract]
Schedule of Accrued Liabilities	As of June 30, 2015 and December 31, 2014 , accrued liabilities consisted of the following (in thousands): June 30, December 31, 2015 2014 Interest expense and related debt fees $ 209,692 $ 97,785 LNG liquefaction costs 76,809 15,753 Total accrued liabilities $ 286,501 $ 113,538

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	As of June 30, 2015 and December 31, 2014 , our long-term debt consisted of the following (in thousands): Interest June 30, December 31, Rate 2015 2014 Long-term debt 2021 Senior Notes 5.625% $ 2,000,000 $ 2,000,000 2022 Senior Notes 6.250% 1,000,000 1,000,000 2023 Senior Notes 5.625% 1,500,000 1,500,000 2024 Senior Notes 5.750% 2,000,000 2,000,000 2025 Senior Notes 5.625% 2,000,000 — 2015 Credit Facilities (1) (2) — — Total long-term debt 8,500,000 6,500,000 Long-term debt premium 2021 Senior Notes 9,457 10,177 2023 Senior Notes 6,745 7,089 Total long-term debt, net $ 8,516,202 $ 6,517,266 (1) Matures on the earlier of December 31, 2020 or the second anniversary of the completion date of Trains 1 through 5 of the Liquefaction Project. (2) Variable interest rate, at our election, is LIBOR or the base rate plus the applicable margin. The applicable margins for LIBOR loans range from 1.30% to 1.75% , depending on the applicable 2015 Credit Facility, and the applicable margin for base rate loans is 1.75% . Interest on LIBOR loans is due and payable at the end of each LIBOR period, and interest on base rate loans is due and payable at the end of each quarter.
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	The following table (in thousands) shows the carrying amount and estimated fair value of our long-term debt: June 30, 2015 December 31, 2014 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value 2021 Senior Notes, net of premium (1) $ 2,009,457 $ 2,049,646 $ 2,010,177 $ 1,985,050 2022 Senior Notes (1) 1,000,000 1,027,500 1,000,000 1,020,000 2023 Senior Notes, net of premium (1) 1,506,745 1,493,561 1,507,089 1,476,947 2024 Senior Notes (1) 2,000,000 1,982,500 2,000,000 1,970,000 2025 Senior Notes (1) 2,000,000 1,960,000 — — 2015 Credit Facilities (2) — — — — (1) The Level 2 estimated fair value was based on quotations obtained from broker-dealers who make markets in these and similar instruments based on the closing trading prices on June 30, 2015 and December 31, 2014 , as applicable. (2) The Level 3 estimated fair value approximates the principal amount because the interest rates are variable and reflective of market rates and the debt may be repaid, in full or in part, at any time without penalty.

Supplemental Cash Flow Inform20

Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2015
Supplemental Cash Flow Information [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	The following table provides supplemental disclosure of cash flow information (in thousands): Six Months Ended June 30, 2015 2014 Balance in property, plant and equipment, net funded with accounts payable and accrued liabilities (including affiliate) $ 232,923 $ 276,788 Non-cash distributions to limited partner for conveyance of assets under Cooperation Agreement 80,515 —

Restricted Cash (Details)

Restricted Cash (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2013
Restricted Cash Items [Line Items]
Current restricted cash	$ 155,810,000	$ 340,545,000
Non-current restricted cash	457,053,000	655,970,000
Payment of Liabilities [Member]
Restricted Cash Items [Line Items]
Current restricted cash	155,810,000	340,480,000
Construction Activities [Member]
Restricted Cash Items [Line Items]
Non-current restricted cash	$ 457,053,000	656,034,000
2013 Credit Facilities [Member]
Restricted Cash Items [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity				$ 5,900,000,000
2015 Credit Facilities [Member]
Restricted Cash Items [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 4,600,000,000
2021 Senior Notes [Member]
Restricted Cash Items [Line Items]
Debt Instrument, Face Amount				$ 2,000,000,000
Debt Instrument, Interest Rate, Stated Percentage		5.625%		5.625%
2022 Senior Notes [Member]
Restricted Cash Items [Line Items]
Debt Instrument, Face Amount				$ 1,000,000,000
Debt Instrument, Interest Rate, Stated Percentage		6.25%		6.25%
2023 Senior Notes [Member]
Restricted Cash Items [Line Items]
Debt Instrument, Face Amount				$ 1,000,000,000
Debt Instrument, Interest Rate, Stated Percentage	5.625%	5.625%		5.625%
Debt Instrument, Increase, Net	$ 500,000,000
2024 Senior Notes [Member]
Restricted Cash Items [Line Items]
Debt Instrument, Face Amount	$ 2,000,000,000
Debt Instrument, Interest Rate, Stated Percentage	5.75%	5.75%
2025 Senior Notes [Member]
Restricted Cash Items [Line Items]
Debt Instrument, Face Amount			$ 2,000,000,000
Debt Instrument, Interest Rate, Stated Percentage		5.625%	5.625%

Property, Plant and Equipment22

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net	$ 8,420,767	$ 6,962,395
LNG terminal costs [Member]
Property, Plant and Equipment [Line Items]
Accumulated depreciation	(446)	(260)
Property, plant and equipment, net	8,415,935	6,958,803
LNG terminal [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	13,171	12,821
LNG terminal construction-in-process [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	8,403,210	6,946,242
Fixed assets [Member]
Property, Plant and Equipment [Line Items]
Accumulated depreciation	(1,678)	(1,047)
Property, plant and equipment, net	4,832	3,592
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,337	854
Furniture and fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,154	1,154
Machinery and equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	339	339
Other [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 3,680	$ 2,292

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) MMBTU in Millions	1 Months Ended		3 Months Ended		6 Months Ended
	Mar. 31, 2015USD ($)	May. 31, 2014USD ($)	Jun. 30, 2015USD ($)MMBTU	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)MMBTU	Jun. 30, 2014USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Asset Transfers into Level 3			$ 0	$ 0	$ 0	$ 0
Asset Transfers out of Level 3			$ 0	$ 0	$ 0	$ 0
Energy Units Secured Through Long-Term Purchase Agreements | MMBTU			2,162.8		2,162.8
2013 Credit Facilities [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Line of Credit Facility, Decrease	$ 1,800,000,000	$ 2,100,000,000
Liquefaction Supply Derivatives [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount | MMBTU			1,250.3		1,250.3
Liquefaction Supply Derivatives [Member] | Minimum [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Term of Contract					1 year
Liquefaction Supply Derivatives [Member] | Maximum [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Term of Contract					7 years
Interest Rate Derivatives [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Loss, Net	$ 34,700,000	$ 9,300,000

Derivative Instruments - Fair V

Derivative Instruments - Fair Value of Derivative Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Natural Gas Derivatives [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net	$ 163	$ 1,071
Natural Gas Derivatives [Member] | 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	0	0
Natural Gas Derivatives [Member] | 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	163	1,071
Natural Gas Derivatives [Member] | 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	0	0
Liquefaction Supply Derivatives [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net	413	342
Liquefaction Supply Derivatives [Member] | 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	0	0
Liquefaction Supply Derivatives [Member] | 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	(27)	0
Liquefaction Supply Derivatives [Member] | 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	440	342
Interest Rate Derivatives [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net	(8,172)	(12,036)
Interest Rate Derivatives [Member] | 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	0	0
Interest Rate Derivatives [Member] | 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	(8,172)	(12,036)
Interest Rate Derivatives [Member] | 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	$ 0	$ 0

Derivative Instruments - Fair25

Derivative Instruments - Fair Value Inputs - Quantitative Information (Details) - Liquefaction Supply Derivatives [Member] - USD ($)	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net	$ 413,000	$ 342,000
Fair Value, Inputs, Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net	$ 440,000	$ 342,000
Valuation Technique	Income Approach
Significant Unobservable Input	Basis Spread
Minimum [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Significant Unobservable Input Range	$ (0.350)
Maximum [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Significant Unobservable Input Range	$ 0.020

Derivative Instruments - Fair26

Derivative Instruments - Fair Value of Derivative Instruments by Balance Sheet Location (Details) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Non-current derivative assets		$ 426	$ 11,744
Derivative liabilities		(7,839)	(23,247)
Non-current derivative liabilities		(653)	(268)
Commodity Contract [Member]
Derivatives, Fair Value [Line Items]
Total derivative assets		896	1,733
Total derivative liabilities		(320)	(320)
Derivative asset, net		576	1,413
Commodity Contract [Member] | Other current assets [Member]
Derivatives, Fair Value [Line Items]
Other current assets		470	1,147
Commodity Contract [Member] | Non-current derivative assets [Member]
Derivatives, Fair Value [Line Items]
Non-current derivative assets		426	586
Commodity Contract [Member] | Derivative liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities		(222)	(53)
Commodity Contract [Member] | Non-current derivative liabilities [Member]
Derivatives, Fair Value [Line Items]
Non-current derivative liabilities		(98)	(267)
Natural Gas Derivatives [Member]
Derivatives, Fair Value [Line Items]
Total derivative assets	[1]	163	1,071
Total derivative liabilities	[1]	0	0
Derivative asset, net	[1]	163	1,071
Natural Gas Derivatives [Member] | Other current assets [Member]
Derivatives, Fair Value [Line Items]
Other current assets	[1]	163	1,071
Derivative, Collateral Deposit (Call), Right to Reclaim Cash		200	(1,000)
Natural Gas Derivatives [Member] | Non-current derivative assets [Member]
Derivatives, Fair Value [Line Items]
Non-current derivative assets	[1]	0	0
Natural Gas Derivatives [Member] | Derivative liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities	[1]	0	0
Natural Gas Derivatives [Member] | Non-current derivative liabilities [Member]
Derivatives, Fair Value [Line Items]
Non-current derivative liabilities	[1]	0	0
Liquefaction Supply Derivatives [Member]
Derivatives, Fair Value [Line Items]
Total derivative assets		733	662
Total derivative liabilities		(320)	(320)
Derivative asset, net		413	342
Liquefaction Supply Derivatives [Member] | Other current assets [Member]
Derivatives, Fair Value [Line Items]
Other current assets		307	76
Liquefaction Supply Derivatives [Member] | Non-current derivative assets [Member]
Derivatives, Fair Value [Line Items]
Non-current derivative assets		426	586
Liquefaction Supply Derivatives [Member] | Derivative liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities		(222)	(53)
Liquefaction Supply Derivatives [Member] | Non-current derivative liabilities [Member]
Derivatives, Fair Value [Line Items]
Non-current derivative liabilities		(98)	(267)
Interest Rate Derivatives [Member] | Non-current derivative assets [Member]
Derivatives, Fair Value [Line Items]
Interest Rate Derivative Assets			11,158
Interest Rate Derivatives [Member] | Derivative liabilities [Member]
Derivatives, Fair Value [Line Items]
Interest Rate Derivative Liabilities		(7,617)	$ (23,194)
Interest Rate Derivatives [Member] | Non-current derivative liabilities [Member]
Derivatives, Fair Value [Line Items]
Interest Rate Derivative Liabilities		$ (555)
[1]	Does not include a collateral deposit of $0.2 million and a collateral call of $1.0 million for such contracts, which are included in other current assets in our Balance Sheets as of June 30, 2015 and December 31, 2014, respectively.

Derivative Instruments - Deriva

Derivative Instruments - Derivative Gain (Loss) (Details) - USD ($)		1 Months Ended		3 Months Ended		6 Months Ended
		Mar. 31, 2015	May. 31, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Natural Gas Derivatives [Member] | Derivative gain (loss), net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net				$ (255,000)	$ (133,000)	$ 444,000	$ (577,000)
Liquefaction Supply Derivatives [Member] | Operating and maintenance expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	[1]			81,000	0	81,000	0
Settlements during the period				0	0	0	0
Interest Rate Derivatives [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net		$ (34,700,000)	$ (9,300,000)
Interest Rate Derivatives [Member] | Derivative gain (loss), net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net				$ 1,469,000	$ (60,122,000)	$ (35,669,000)	$ (94,601,000)
[1]	There were no physical settlements during the reporting period.

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Notional Amounts of Outstanding Derivative Positions (Details) - Jun. 30, 2015 - Interest Rate Derivatives [Member] - USD ($) $ in Millions	Total
Derivative [Line Items]
Notional Amount of Interest Rate Derivatives	$ 20
Effective Date	Aug. 14, 2012
Maturity Date	Jul. 31, 2019
Weighted Average Fixed Interest Rate Paid	1.98%
Variable Interest Rate Received	One-month LIBOR
Maximum [Member]
Derivative [Line Items]
Notional Amount of Interest Rate Derivatives	$ 690.8

Derivative Instruments - Deri29

Derivative Instruments - Derivative Net Presentation on Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Natural Gas Derivatives Asset [Member]
Derivative [Line Items]
Derivative Asset, Gross Amounts Recognized	$ 241	$ 1,079
Derivative Asset, Gross Amounts Offset in the Balance Sheets	(78)	(8)
Net Amounts Presented in our Balance Sheets	163	1,071
Liquefaction Supply Derivatives Asset [Member]
Derivative [Line Items]
Derivative Asset, Gross Amounts Recognized	733	662
Derivative Asset, Gross Amounts Offset in the Balance Sheets	0	0
Net Amounts Presented in our Balance Sheets	733	662
Liquefaction Supply Derivatives Liability [Member]
Derivative [Line Items]
Derivative Liability, Gross Amounts Recognized	(320)	(320)
Derivative Liability, Gross Amounts Offset in the Balance Sheets	0	0
Net Amounts Presented in our Balance Sheets	(320)	(320)
Interest Rate Derivatives Asset [Member]
Derivative [Line Items]
Derivative Asset, Gross Amounts Recognized		11,158
Derivative Asset, Gross Amounts Offset in the Balance Sheets		0
Net Amounts Presented in our Balance Sheets		11,158
Interest Rate Derivatives Liability [Member]
Derivative [Line Items]
Derivative Liability, Gross Amounts Recognized	(8,172)	(23,194)
Derivative Liability, Gross Amounts Offset in the Balance Sheets	0	0
Net Amounts Presented in our Balance Sheets	$ (8,172)	$ (23,194)

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Accrued Liabilities [Abstract]
Interest expense and related debt fees	$ 209,692	$ 97,785
LNG liquefaction costs	76,809	15,753
Total accrued liabilities	$ 286,501	$ 113,538

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-term Debt Instruments (Details) - USD ($)		6 Months Ended
		Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 8,500,000,000		$ 6,500,000,000
Total long-term debt, net		$ 8,516,202,000		6,517,266,000
2021 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		5.625%			5.625%
Long-term Debt, Gross		$ 2,000,000,000		2,000,000,000
Debt Instrument, Unamortized Premium		$ 9,457,000		10,177,000
2022 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		6.25%			6.25%
Long-term Debt, Gross		$ 1,000,000,000		$ 1,000,000,000
2023 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		5.625%		5.625%	5.625%
Long-term Debt, Gross		$ 1,500,000,000		$ 1,500,000,000
Debt Instrument, Unamortized Premium		$ 6,745,000		$ 7,089,000
2024 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		5.75%		5.75%
Long-term Debt, Gross		$ 2,000,000,000		$ 2,000,000,000
2025 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		5.625%	5.625%
Long-term Debt, Gross		$ 2,000,000,000		0
2015 Credit Facilities [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	[1],[2]	$ 0		$ 0
Debt Instrument, Description of Variable Rate Basis		LIBOR
2015 Credit Facilities [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		1.75%
2015 Credit Facilities [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		1.30%
2015 Credit Facilities [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		1.75%
[1]	Matures on the earlier of December 31, 2020 or the second anniversary of the completion date of Trains 1 through 5 of the Liquefaction Project.
[2]	Variable interest rate, at our election, is LIBOR or the base rate plus the applicable margin. The applicable margins for LIBOR loans range from 1.30% to 1.75%, depending on the applicable 2015 Credit Facility, and the applicable margin for base rate loans is 1.75%. Interest on LIBOR loans is due and payable at the end of each LIBOR period, and interest on base rate loans is due and payable at the end of each quarter.

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($)		1 Months Ended		3 Months Ended		6 Months Ended
		Mar. 31, 2015	May. 31, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Apr. 30, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Interest Costs Incurred				$ 130,800,000	$ 95,200,000	$ 246,900,000	$ 178,700,000
Interest Costs Capitalized				117,900,000	95,200,000	227,600,000	178,700,000
Long-term Debt, Outstanding Borrowings				8,500,000,000		8,500,000,000		$ 6,500,000,000
Loss on extinguishment of debt				$ 7,281,000	$ 114,335,000	$ 96,273,000	$ 114,335,000
2025 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 2,000,000,000
Debt Instrument, Interest Rate, Stated Percentage		5.625%		5.625%		5.625%
Debt Instrument Registration Period						360 days
Long-term Debt, Outstanding Borrowings				$ 2,000,000,000		$ 2,000,000,000		0
2015 Credit Facilities [Member]
Debt Instrument [Line Items]
Maximum Borrowing Capacity				4,600,000,000		4,600,000,000
Remaining Borrowing Capacity				4,600,000,000		4,600,000,000
Long-term Debt, Outstanding Borrowings	[1],[2]			0		0		0
Debt Instrument, Fee Amount				$ 89,900,000		$ 89,900,000
Line Of Credit Facility, Insurance Premium, Percentage Of Drawn Amount						0.45%
Line Of Credit Facility, Commitment Fee, Percentage Of Margin On Undrawn Commitment						40.00%
Line of Credit Facility, Commitment Fee, Percentage On Undrawn Commitment						0.70%
Line of Credit Facility, Amortization Period						18 years
Debt Instrument Hedging Requirement Period						90 days
2015 Credit Facilities [Member] | Minimum [Member]
Debt Instrument [Line Items]
Percentage of Debt Hedged by Interest Rate Derivatives				65.00%		65.00%
2013 Credit Facilities [Member]
Debt Instrument [Line Items]
Maximum Borrowing Capacity										$ 5,900,000,000
Long-term Debt, Outstanding Borrowings								0
Line of Credit Facility, Decrease		$ 1,800,000,000	$ 2,100,000,000
Loss on extinguishment of debt				$ 7,300,000		$ 96,300,000
Senior LC Agreement [Member]
Debt Instrument [Line Items]
Maximum Borrowing Capacity									$ 325,000,000
Letter of Credit, Basis Spread over Base Rate						2.00%
Letters of Credit, Outstanding, Amount				72,900,000		$ 72,900,000		9,500,000
Letters of Credit, Drawn, Amount				$ 0		$ 0		$ 0
Senior LC Agreement [Member] | Unissued Portion [Member]
Debt Instrument [Line Items]
Commitment Fee Percentage						0.75%
Senior LC Agreement [Member] | Portion issued and not drawn [Member]
Debt Instrument [Line Items]
Commitment Fee Percentage						2.50%
[1]	Matures on the earlier of December 31, 2020 or the second anniversary of the completion date of Trains 1 through 5 of the Liquefaction Project.
[2]	Variable interest rate, at our election, is LIBOR or the base rate plus the applicable margin. The applicable margins for LIBOR loans range from 1.30% to 1.75%, depending on the applicable 2015 Credit Facility, and the applicable margin for base rate loans is 1.75%. Interest on LIBOR loans is due and payable at the end of each LIBOR period, and interest on base rate loans is due and payable at the end of each quarter.

Long-Term Debt - Schedule of Ca

Long-Term Debt - Schedule of Carrying Values and Estimated Fair Values of Debt Instruments (Details) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount, Long-term Debt		$ 8,516,202	$ 6,517,266
2021 Senior Notes, net of premium [Member] | Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount, Long-term Debt		2,009,457	2,010,177
2021 Senior Notes, net of premium [Member] | Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable, Fair Value Disclosure	[1]	2,049,646	1,985,050
2022 Senior Notes [Member] | Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount, Long-term Debt		1,000,000	1,000,000
2022 Senior Notes [Member] | Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable, Fair Value Disclosure	[1]	1,027,500	1,020,000
2023 Senior Notes, net of premium [Member] | Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount, Long-term Debt		1,506,745	1,507,089
2023 Senior Notes, net of premium [Member] | Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable, Fair Value Disclosure	[1]	1,493,561	1,476,947
2024 Senior Notes [Member] | Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount, Long-term Debt		2,000,000	2,000,000
2024 Senior Notes [Member] | Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable, Fair Value Disclosure	[1]	1,982,500	1,970,000
2025 Senior Notes [Member] | Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount, Long-term Debt		2,000,000	0
2025 Senior Notes [Member] | Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable, Fair Value Disclosure	[1]	1,960,000	0
2015 Credit Facilities [Member] | Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount, Long-term Debt		0	0
2015 Credit Facilities [Member] | Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Lines of Credit, Fair Value Disclosure	[2]	$ 0	$ 0
[1]	The Level 2 estimated fair value was based on quotations obtained from broker-dealers who make markets in these and similar instruments based on the closing trading prices on June 30, 2015 and December 31, 2014, as applicable.
[2]	The Level 3 estimated fair value approximates the principal amount because the interest rates are variable and reflective of market rates and the debt may be repaid, in full or in part, at any time without penalty.

Related Party Transactions (Det

Related Party Transactions (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)bcf	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)bcf$ / MMBTU	Jun. 30, 2014USD ($)
Related Party Transaction [Line Items]
General and administrative expense—affiliate	$ 24,791,000	$ 15,462,000	$ 39,366,000	$ 35,429,000
Operating and maintenance expense—affiliate	78,000	5,000	128,000	5,000
Service Agreements [Member]
Related Party Transaction [Line Items]
General and administrative expense—affiliate	24,700,000	15,400,000	39,100,000	35,200,000
Operating and maintenance expense—affiliate	100,000	0	$ 100,000	0
Operation and Maintenance Agreement [Member] | Cheniere Energy Investments, LLC [Member]
Related Party Transaction [Line Items]
Monthly fee as a percentage of capital expenditures incurred in the previous month			0.60%
Related Party Transaction, Committed Monthly Fee	83,333		$ 83,333
Management Services Agreement [Member] | Cheniere LNG Terminals, LLC [Member]
Related Party Transaction [Line Items]
Monthly fee as a percentage of capital expenditures incurred in the previous month			2.40%
Related Party Transaction, Committed Monthly Fee	$ 541,667		$ 541,667
LNG Terminal Capacity Agreements [Member] | Sabine Pass LNG, LP [Member]
Related Party Transaction [Line Items]
Regasification capacity, in Bcf/d | bcf	2		2
Related Party Transaction, Committed Annual Fee			$ 250,000,000
Related Party Agreement Term			20 years
Portion of storage capacity reserved	41.00%		41.00%
Terminal Use Agreement Maintenance Expense (Recovery) Including Affiliate	$ (100,000)	15,000,000	$ 17,700,000	14,800,000
LNG Terminal Capacity Agreements [Member] | Sabine Pass LNG, LP [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Percentage Of Committed Monthly Payment			100.00%
LNG Terminal Capacity Agreements [Member] | Sabine Pass LNG, LP [Member] | Minimum [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Percentage Of Committed Monthly Payment			0.00%
LNG Sale and Purchase Agreement [Member] | Cheniere Marketing, LLC [Member]
Related Party Transaction [Line Items]
Incremental LNG Volume, Purchase Price Percentage of Henry Hub			115.00%
Incremental LNG Volume, Purchase Price Per MMBtu | $ / MMBTU			3
LNG Site Sublease Agreement [Member] | Sabine Pass LNG, LP [Member]
Related Party Transaction [Line Items]
Annual Sublease Payment			$ 1,000,000
Term of available extension			10 years
Review Period for Inflation Adjustment			5 years
Operating Leases, Rent Expense, Net	100,000	100,000	$ 200,000	200,000
Tax Sharing Agreement [Member] | Cheniere Energy, Inc. [Member]
Related Party Transaction [Line Items]
Income Taxes Paid, Net			0
Cooperation Agreement [Member] | Sabine Pass LNG, LP [Member]
Related Party Transaction [Line Items]
Assets conveyed under the agreement	$ 80,500,000	$ 0	$ 80,500,000	$ 700,000

Supplemental Cash Flow Inform35

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Supplemental Cash Flow Information [Abstract]
Balance in property, plant and equipment, net funded with accounts payable and accrued liabilities (including affiliate)	$ 232,923	$ 276,788
Non-cash distributions to limited partner for conveyance of assets under Cooperation Agreement	$ 80,515	$ 0