Cheniere Energy Partners 10-Q 30 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 21, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Cheniere Energy Partners LP Holdings, LLC
Entity Central Index Key	1,582,966
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large 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		231,700,000

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current assets
Cash and cash equivalents	$ 1,075	$ 1,261
Accounts receivable	158	114
Other current assets	130	21
Total current assets	1,363	1,396
Other non-current assets	45	157
Total assets	1,408	1,553
Current liabilities
Accounts payable and accrued liabilities	169	248
Accrued liabilities—affiliate	0	91
Total current liabilities	169	339
Shareholders’ equity
Common shares: unlimited shares authorized, 231.7 million shares issued and outstanding at June 30, 2015 and December 31, 2014	664,931	664,931
Director voting share: 1 share authorized, issued and outstanding at June 30, 2015 and December 31, 2014	0	0
Additional paid-in-capital	(271,757)	(271,757)
Accumulated deficit	(391,935)	(391,960)
Total shareholders’ equity	1,239	1,214
Total liabilities and shareholders’ equity	$ 1,408	$ 1,553

Consolidated Balance Sheets Par

Consolidated Balance Sheets Parentheticals - shares	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common Stock, Shares, Issued	231,700,000	231,700,000
Common Stock, Shares, Outstanding	231,700,000	231,700,000
Director Voting Shares Authorized	1	1
Director Voting Shares Issued	1	1
Director Voting Shares Outstanding	1	1

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Equity income from investment in Cheniere Partners	$ 5,085	$ 5,085	$ 10,169	$ 10,169
Expenses
General and administrative expense	322	304	600	717
General and administrative expense—affiliate	254	218	508	507
Total expenses	576	522	1,108	1,224
Net income	$ 4,509	$ 4,563	$ 9,061	$ 8,945
Net income per common share—basic and diluted	$ 0.02	$ 0.02	$ 0.04	$ 0.04
Weighted average number of common shares outstanding—basic and diluted	231,700	231,700	231,700	231,700
Cash dividends declared per common share	$ 0.020	$ 0.019	$ 0.039	$ 0.036

Consolidated Statement of Share

Consolidated Statement of Shareholders' Equity - 6 months ended Jun. 30, 2015 - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]
Common stock, Shares, Outstanding, beginning of period at Dec. 31, 2014	231,700,000	231,700,000
Total shareholders' equity, beginning of period at Dec. 31, 2014	$ 1,214	$ 664,931	$ (271,757)	$ (391,960)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends to shareholders	(9,036)	0	0	(9,036)
Net income	$ 9,061	$ 0	0	9,061
Common stock, Shares, Outstanding, end of period at Jun. 30, 2015	231,700,000	231,700,000
Total shareholders' equity, end of period at Jun. 30, 2015	$ 1,239	$ 664,931	$ (271,757)	$ (391,935)

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities
Net income	$ 9,061	$ 8,945
Adjustments to reconcile net income to net cash used in operating activities:
Income from equity investment	(10,169)	(10,169)
Changes in operating assets and liabilities:
Accounts receivable	(43)	47
Accounts receivable—affiliate	0	70
Accounts payable and accrued liabilities	44	(21)
Accounts payable and accrued liabilities—affiliate	0	(37)
Other, net	2	(62)
Net cash used in operating activities	(1,105)	(1,227)
Cash flows from investing activities
Distributions from equity investment	10,169	10,169
Cash flows from financing activities
Dividends paid to shareholders	(9,036)	(8,341)
Other	(214)	0
Net cash used in financing activities	(9,250)	(8,341)
Net increase (decrease) in cash and cash equivalents	(186)	601
Cash and cash equivalents—beginning of period	1,261	0
Cash and cash equivalents—end of period	$ 1,075	$ 601

Nature of Business

Nature of Business	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	NATURE OF BUSINESS We are a Delaware limited liability company formed by Cheniere (NYSE MKT: LNG) to hold its limited partner interests in Cheniere Partners, a publicly traded limited partnership (NYSE MKT: CQP). Our only business consists of owning Cheniere Partners’ limited partner units (the “Cheniere Partners units”), along with cash or other property that we receive as distributions in respect of such units, and, accordingly, our consolidated results of operations and financial condition are dependent on the performance of Cheniere Partners. As of June 30, 2015 , we owned a 55.9% limited partner interest in Cheniere Partners.

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 Consolidated Financial Statements of Cheniere Holdings 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 consolidated 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 . For further information, refer to the Consolidated Financial Statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2014 . Accounting for Investment in Cheniere Partners As of June 30, 2015 and December 31, 2014 , we owned a 55.9% limited partner interest in Cheniere Partners. In addition to the Cheniere Partners units, we own a non-economic voting interest in GP Holdco, which holds a 100% indirect interest in Cheniere Partners’ general partner, Cheniere Partners GP. This non-economic voting interest in GP Holdco allows us to control the appointment of four of the eleven members to the board of directors of Cheniere Partners GP to oversee the operations of Cheniere Partners. Cheniere owns the sole share entitled to vote in the election of our directors (the “Director Voting Share”). If Cheniere relinquishes the Director Voting Share, which it may do in its sole discretion, or ceases to own greater than 25% of our outstanding shares, our non-economic voting interest in GP Holdco would be extinguished and we would cease to control GP Holdco. Cheniere may, at any time and without our consent, relinquish the Director Voting Share, which would cause our non-economic voting interest in GP Holdco to be extinguished. Because Cheniere may relinquish the Director Voting Share at any time and we have no variable interest in GP Holdco, we have determined that we cannot consolidate Cheniere Partners and must account for our investment in the Cheniere Partners units that we own using the equity method of accounting. We record our share of Cheniere Partners’ net income (loss) in the period in which it is earned. The difference between our reported zero investment in Cheniere Partners as of both June 30, 2015 and December 31, 2014 and our ownership in Cheniere Partners’ reported net assets, excluding the beneficial conversion feature associated with Cheniere Partners Class B units (“Class B units”) as reported by Cheniere Partners, was due primarily to suspended losses and equity gains from Cheniere Partners’ sales of common units that were not recognized by us. The equity method of accounting requires that our investment in Cheniere Partners be shown in our Consolidated Balance Sheets as a single amount. Our initial investment in Cheniere Partners is recognized at cost, and this carrying amount is increased or decreased to recognize our share of income or loss of Cheniere Partners after the date of our initial investment in the Cheniere Partners units. As a result of our historical negative investment in Cheniere Partners and because we are not obligated to fund losses, we had a zero investment balance in Cheniere Partners as of both June 30, 2015 and December 31, 2014 and had suspended the use of the equity method for additional losses. After giving effect to our equity ownership in Cheniere Partners as though we had acquired the Cheniere Partners units we owned as a result of a merger of entities under common control, we had suspended losses of approximately $720 million and $530 million as of June 30, 2015 and December 31, 2014 , respectively. Additional equity method losses that we incur increase the suspended loss amount. Due to our zero investment balance in, and suspended losses of, Cheniere Partners as of both June 30, 2015 and December 31, 2014 , we have historically and will continue to recognize distributions that we receive as a gain on our Consolidated Statements of Income and a corresponding entry will be made to increase the suspended loss account. Only upon recovery of all suspended losses through future earnings will equity income be reported on our Consolidated Statements of Income and future distributions reduce the carrying amount of our investment in Cheniere Partners.

Capitalization

Capitalization	6 Months Ended
	Jun. 30, 2015
Stockholders' Equity Note [Abstract]
Capitalization	CAPITALIZATION Cheniere Holdings’ authorized capital structure consists of common shares and the Director Voting Share. No owner of Cheniere Holdings shall be liable for Cheniere Holdings’ debts, liabilities or obligations beyond such owner’s capital contribution. At June 30, 2015 , our issued capitalization consisted of 231.7 million common shares, of which 185.6 million common shares were owned by Cheniere and its affiliates and 46.1 million common shares were owned by the public, and one Director Voting Share owned by Cheniere. We are authorized to issue an unlimited number of common shares. Additional classes or series of securities may be created with the approval of our board of directors, provided that any such additional class or series must be approved by a vote of holders of a majority of our outstanding shares.

Investment in Cheniere Partners

Investment in Cheniere Partners	6 Months Ended
	Jun. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Investment in Cheniere Partners	INVESTMENT IN CHENIERE PARTNERS Our business consists of owning the following Cheniere Partners units, along with cash or other property that we receive as distributions in respect of such units: Common Units We own 11,963,488 common units, which are entitled to quarterly cash distributions from Cheniere Partners. To the extent that Cheniere Partners is unable to pay the initial quarterly distribution in the future, arrearages in the amount of the initial quarterly distribution (or the difference between the initial quarterly distribution and the amount of the distribution actually paid to common unitholders) may accrue with respect to the common units. Subordinated Units We own 135,383,831 subordinated units. The subordinated units are not entitled to receive distributions until all common units have received at least the initial quarterly distribution, including any arrearages that may accrue. The subordinated units will convert on a one-for-one basis into common units at the expiration of the subordination period as described in the Third Amended and Restated Agreement of Limited Partnership of Cheniere Partners, dated as of August 9, 2012. Cheniere Partners has not made any cash distributions in respect of the subordinated units with respect to the quarters ended on or after June 30, 2010. Class B Units We own 45,333,334 Class B units. The Class B units are not entitled to receive cash distributions except in the event of a liquidation of Cheniere Partners, a merger, consolidation or other combination of Cheniere Partners with another person or the sale of all or substantially all of the assets of Cheniere Partners. The Class B units are subject to conversion, mandatorily or at the option of the holders of the Class B units under specified circumstances, into a number of common units based on the then-applicable conversion value of the Class B units. On a quarterly basis beginning on the initial purchase date of the Class B units and ending on the conversion date of the Class B units, the conversion value of the Class B units increases at a compounded rate of 3.5% per quarter, subject to additional upward adjustment for certain equity and debt financings. As of June 30, 2015 , the accreted conversion ratio of the Class B units owned by us and Blackstone CQP Holdco LP was 1.51 and 1.49 , respectively. We expect the Class B units to mandatorily convert into common units within 90 days of the substantial completion date of Cheniere Partners’ third natural gas liquefaction train, which we currently expect to be prior to April 30, 2017. If the Class B units are not mandatorily converted by July 2019, the holders of the Class B units have the option to convert the Class B units into common units at that time.

Summarized Financial Informatio

Summarized Financial Information for Cheniere Partners	6 Months Ended
	Jun. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Summarized Financial Information for Cheniere Partners	SUMMARIZED FINANCIAL INFORMATION FOR CHENIERE PARTNERS Our consolidated results of operations and financial condition are dependent on the performance of Cheniere Partners. The following tables are summarized Consolidated Statements of Operations and Consolidated Balance Sheets information for Cheniere Partners. Additional information on Cheniere Partners’ results of operations and financial position are contained in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2015 , which is included in this filing as Exhibit 99.1 and incorporated herein by reference. Summarized Cheniere Partners Consolidated Statements of Operations Information (in thousands) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Revenues (including transactions with affiliates) $ 67,689 $ 67,328 $ 135,219 $ 134,549 Operating costs and expenses (including transactions with affiliates) (71,713 ) (75,054 ) (149,819 ) (137,189 ) Other expense (56,019 ) (218,498 ) (224,119 ) (293,317 ) Net loss $ (60,043 ) $ (226,224 ) $ (238,719 ) $ (295,957 ) Summarized Cheniere Partners Consolidated Balance Sheets Information (in thousands) June 30, December 31, 2015 2014 (unaudited) Current assets $ 624,358 $ 486,520 Non-current assets 11,684,179 9,900,995 Total assets $ 12,308,537 $ 10,387,515 Current liabilities $ 408,308 $ 214,756 Non-current liabilities 11,057,700 9,042,030 Partners’ equity 842,529 1,130,729 Total liabilities and partners’ equity $ 12,308,537 $ 10,387,515

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS Services Agreement We, Cheniere and Cheniere LNG Terminals, LLC, a wholly owned subsidiary of Cheniere, entered into a services agreement (the “Services Agreement”) pursuant to which we pay Cheniere a fixed fee of $1.0 million per year (payable quarterly in installments of $250,000 per quarter, in arrears), subject to adjustment for inflation, for certain general and administrative services, including the services of our directors and officers who are also directors and executive officers of Cheniere. In addition, we pay directly for, or reimburse Cheniere for, certain third-party general and administrative expenses incurred. Cheniere also provides us with cash management services, including treasury services with respect to the payment of dividends and allocation of reserves for taxes. Under the Services Agreement, we recorded general and administrative expense—affiliate of $0.3 million and $0.2 million during the three months ended June 30, 2015 and 2014 , respectively, and $0.5 million during each of the six months ended June 30, 2015 and 2014 . The Services Agreement is for one -year terms unless notice of nonrenewal is provided by any party to the agreement at least 90 days prior to the next renewal date. Upon the occurrence of certain events resulting in the separation of us and Cheniere, our officers and directors who are also directors or officers of Cheniere would resign. Within 60 days after such a separation event, we may provide notice to Cheniere to terminate the Services Agreement, and the Services Agreement will terminate 90 days after the delivery date of the notice. If we provide notice to terminate at any time after such a separation event, we may request that Cheniere continue to provide services to us for a period of up to six months from the termination notice date. Tax Sharing Agreement On December 18, 2013, we entered into a Tax Sharing Agreement (the “Tax Sharing Agreement”) with Cheniere that governs the respective rights, responsibilities and obligations of Cheniere and us with respect to tax attributes, tax liabilities and benefits, the preparation and filing of tax returns, the control of audits and other tax proceedings and other matters regarding taxes. Under the terms of the Tax Sharing Agreement, for each period in which we or any of our subsidiaries are consolidated or combined with Cheniere for purposes of any tax return, Cheniere will prepare a pro forma tax return for us as if we filed our own consolidated, combined or unitary income tax return, which includes an initial deemed net operating loss (“NOL”) carryforward amount. We will be required to reimburse Cheniere for any taxes shown on such pro forma tax returns. Although we and Cheniere are each generally responsible for managing those disputes that relate to the taxes for which both are responsible, the Tax Sharing Agreement provides that Cheniere will have the responsibility and discretion to prepare and file all consolidated, combined or unitary income tax returns on our behalf (including the making of any tax elections), to respond to and conduct all tax proceedings (including tax audits) relating to such tax returns and to determine the reimbursement amounts in connection with any pro forma tax returns.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES We are a limited liability company that has elected to be treated as a corporation for U.S. federal income tax purposes. The provision for income taxes, taxes payable and deferred income tax balances has been recorded as if we had filed all tax returns on a separate return basis (“hypothetical carve-out basis”) from Cheniere. Our taxable income or loss is included in the consolidated federal income tax return of Cheniere. We have entered into a Tax Sharing Agreement with Cheniere as discussed in Note 6—Related Party Transactions. Any amounts due to Cheniere under the Tax Sharing Agreement in excess of our income tax provision calculated on a hypothetical carve-out basis will be recorded as an equity distribution. If we separated from the Cheniere consolidated or combined group, our actual NOL carryforward may differ from our deemed NOL and may be limited by Internal Revenue Code (“IRC”) Section 382. Cheniere experienced an ownership change within the provisions of IRC Section 382 in 2008, 2010 and 2012. An analysis of the annual limitation on the utilization of Cheniere’s NOLs was performed in accordance with IRC Section 382. It was determined that IRC Section 382 will not limit the use of our NOLs in full over the carryover period. Cheniere will continue to monitor trading activity in its respective shares which may cause an additional ownership change which could ultimately affect our ability to fully utilize our existing tax NOL carryforwards.

Distribution Received and Divid

Distribution Received and Dividends Paid	6 Months Ended
	Jun. 30, 2015
Distributions Received and Dividends Paid [Abstract]
Distributions Received and Dividends Paid	DISTRIBUTIONS RECEIVED AND DIVIDENDS PAID The following provides a summary of distributions received from Cheniere Partners during the six months ended June 30, 2015 and 2014 : Date Paid Period Covered by Distribution Distribution Per Common Unit Total Distribution Received (in thousands) May 15, 2015 January 1 - March 31, 2015 $ 0.425 $ 5,084 February 13, 2015 October 1 - December 31, 2014 0.425 5,084 May 15, 2014 January 1 - March 31, 2014 $ 0.425 $ 5,084 February 14, 2014 October 1 - December 31, 2013 0.425 5,084 On July 24, 2015 , the board of directors of Cheniere Partners’ general partner declared a cash distribution of $0.425 per common unit with respect to the second quarter of 2015. The distribution attributable to our interest in Cheniere Partners, totaling $5.1 million , is to be paid to us on August 14, 2015 . We have used these distributions from Cheniere Partners to establish cash reserves to pay general and administrative expenses (including affiliate) and to pay dividends. The following provides a summary of dividends paid by us during the six months ended June 30, 2015 and 2014 : Date Paid Period Covered by Dividend Dividend Per Share Total Dividend Paid (in thousands) May 29, 2015 January 1 - March 31, 2015 $ 0.020 $ 4,634 February 27, 2015 October 1 - December 31, 2014 0.019 4,402 May 30, 2014 January 1 - March 31, 2014 $ 0.019 $ 4,402 March 3, 2014 October 1 - December 31, 2013 0.017 3,939

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 August 2014, the Financial Accounting Standards Board (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 Consolidated Financial Statements or related disclosures. In February 2015, the FASB amended its guidance on consolidation analysis. This amendment primarily affects asset managers and reporting entities involved with limited partnerships or similar entities, but the analysis is relevant in the evaluation of any reporting organization’s requirement to consolidate a legal entity. This guidance changes (1) the identification of variable interests, (2) the variable interest entity characteristics for a limited partnership or similar entity and (3) the primary beneficiary determination. This guidance is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period, with earlier adoption 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 Consolidated Financial Statements and related disclosures.

Basis of Presentation Basis of

Basis of Presentation 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 Consolidated Financial Statements of Cheniere Holdings 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 consolidated 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 . For further information, refer to the Consolidated Financial Statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2014 . Accounting for Investment in Cheniere Partners As of June 30, 2015 and December 31, 2014 , we owned a 55.9% limited partner interest in Cheniere Partners. In addition to the Cheniere Partners units, we own a non-economic voting interest in GP Holdco, which holds a 100% indirect interest in Cheniere Partners’ general partner, Cheniere Partners GP. This non-economic voting interest in GP Holdco allows us to control the appointment of four of the eleven members to the board of directors of Cheniere Partners GP to oversee the operations of Cheniere Partners. Cheniere owns the sole share entitled to vote in the election of our directors (the “Director Voting Share”). If Cheniere relinquishes the Director Voting Share, which it may do in its sole discretion, or ceases to own greater than 25% of our outstanding shares, our non-economic voting interest in GP Holdco would be extinguished and we would cease to control GP Holdco. Cheniere may, at any time and without our consent, relinquish the Director Voting Share, which would cause our non-economic voting interest in GP Holdco to be extinguished. Because Cheniere may relinquish the Director Voting Share at any time and we have no variable interest in GP Holdco, we have determined that we cannot consolidate Cheniere Partners and must account for our investment in the Cheniere Partners units that we own using the equity method of accounting. We record our share of Cheniere Partners’ net income (loss) in the period in which it is earned. The difference between our reported zero investment in Cheniere Partners as of both June 30, 2015 and December 31, 2014 and our ownership in Cheniere Partners’ reported net assets, excluding the beneficial conversion feature associated with Cheniere Partners Class B units (“Class B units”) as reported by Cheniere Partners, was due primarily to suspended losses and equity gains from Cheniere Partners’ sales of common units that were not recognized by us. The equity method of accounting requires that our investment in Cheniere Partners be shown in our Consolidated Balance Sheets as a single amount. Our initial investment in Cheniere Partners is recognized at cost, and this carrying amount is increased or decreased to recognize our share of income or loss of Cheniere Partners after the date of our initial investment in the Cheniere Partners units. As a result of our historical negative investment in Cheniere Partners and because we are not obligated to fund losses, we had a zero investment balance in Cheniere Partners as of both June 30, 2015 and December 31, 2014 and had suspended the use of the equity method for additional losses. After giving effect to our equity ownership in Cheniere Partners as though we had acquired the Cheniere Partners units we owned as a result of a merger of entities under common control, we had suspended losses of approximately $720 million and $530 million as of June 30, 2015 and December 31, 2014 , respectively. Additional equity method losses that we incur increase the suspended loss amount. Due to our zero investment balance in, and suspended losses of, Cheniere Partners as of both June 30, 2015 and December 31, 2014 , we have historically and will continue to recognize distributions that we receive as a gain on our Consolidated Statements of Income and a corresponding entry will be made to increase the suspended loss account. Only upon recovery of all suspended losses through future earnings will equity income be reported on our Consolidated Statements of Income and future distributions reduce the carrying amount of our investment in Cheniere Partners.

Summarized Financial Informat17

Summarized Financial Information for Cheniere Partners (Tables)	6 Months Ended
	Jun. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Condensed Financial Statements	The following tables are summarized Consolidated Statements of Operations and Consolidated Balance Sheets information for Cheniere Partners. Additional information on Cheniere Partners’ results of operations and financial position are contained in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2015 , which is included in this filing as Exhibit 99.1 and incorporated herein by reference. Summarized Cheniere Partners Consolidated Statements of Operations Information (in thousands) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Revenues (including transactions with affiliates) $ 67,689 $ 67,328 $ 135,219 $ 134,549 Operating costs and expenses (including transactions with affiliates) (71,713 ) (75,054 ) (149,819 ) (137,189 ) Other expense (56,019 ) (218,498 ) (224,119 ) (293,317 ) Net loss $ (60,043 ) $ (226,224 ) $ (238,719 ) $ (295,957 ) Summarized Cheniere Partners Consolidated Balance Sheets Information (in thousands) June 30, December 31, 2015 2014 (unaudited) Current assets $ 624,358 $ 486,520 Non-current assets 11,684,179 9,900,995 Total assets $ 12,308,537 $ 10,387,515 Current liabilities $ 408,308 $ 214,756 Non-current liabilities 11,057,700 9,042,030 Partners’ equity 842,529 1,130,729 Total liabilities and partners’ equity $ 12,308,537 $ 10,387,515

Distribution Received and Div18

Distribution Received and Dividends Paid (Tables)	6 Months Ended
	Jun. 30, 2015
Distributions Received and Dividends Paid [Abstract]
Schedule of Distributions Received	The following provides a summary of distributions received from Cheniere Partners during the six months ended June 30, 2015 and 2014 : Date Paid Period Covered by Distribution Distribution Per Common Unit Total Distribution Received (in thousands) May 15, 2015 January 1 - March 31, 2015 $ 0.425 $ 5,084 February 13, 2015 October 1 - December 31, 2014 0.425 5,084 May 15, 2014 January 1 - March 31, 2014 $ 0.425 $ 5,084 February 14, 2014 October 1 - December 31, 2013 0.425 5,084
Schedule of Dividends Paid	The following provides a summary of dividends paid by us during the six months ended June 30, 2015 and 2014 : Date Paid Period Covered by Dividend Dividend Per Share Total Dividend Paid (in thousands) May 29, 2015 January 1 - March 31, 2015 $ 0.020 $ 4,634 February 27, 2015 October 1 - December 31, 2014 0.019 4,402 May 30, 2014 January 1 - March 31, 2014 $ 0.019 $ 4,402 March 3, 2014 October 1 - December 31, 2013 0.017 3,939

Nature of Business (Details)

Nature of Business (Details)	Jun. 30, 2015	Dec. 31, 2014
Cheniere Energy Partners, LP [Member] | Limited Partner [Member]
Nature Of Business [Line Items]
Equity Method Investment, Ownership Percentage	55.90%	55.90%

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($)	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Cheniere Energy Partners, LP [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Equity Method Investments	$ 0	$ 0
Suspended losses	$ 720,000,000	$ 530,000,000
Cheniere Energy Partners, LP [Member] | Limited Partner [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Equity Method Investment, Ownership Percentage	55.90%	55.90%
Cheniere GP Holding Company, LLC [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Variable Interest Entity, Ownership Percentage	0.00%
Cheniere GP Holding Company, LLC [Member] | Cheniere Energy Partners, LP [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
General Partner Ownership Interest Percentage	100.00%
Cheniere Energy, Inc. [Member] | Ownership percentage of our outstanding shares required to control GP Holdco [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	25.00%

Capitalization (Details)

Capitalization (Details)	Jun. 30, 2015shares
Schedule of Capitalization, Equity [Line Items]
Shares, Issued	231,700,000
Public Ownership of Cheniere Energy Partners LP Holdings LLC, shares	46,100,000
Cheniere Energy, Inc. [Member]
Schedule of Capitalization, Equity [Line Items]
Cheniere Ownership of Cheniere Energy Partners LP Holdings LLC common shares, shares	185,600,000

Investment in Cheniere Partne22

Investment in Cheniere Partners (Details) - Jun. 30, 2015 - Cheniere Energy Partners, LP [Member]	Rateshares
Common Units [Member]
Schedule of Equity Method Investments [Line Items]
Partners Capital Account, Units, Units Held	11,963,488
Subordinated Units [Member]
Schedule of Equity Method Investments [Line Items]
Partners Capital Account, Units, Units Held	135,383,831
Class B units [Member]
Schedule of Equity Method Investments [Line Items]
Partners Capital Account, Units, Units Held	45,333,334
Partnership Units, Conversion Ratio, Quarterly Compounded Rate	0.035
Partnership Units, Accreted Conversion Ratio | Rate	1.51
Maximum Period Of Conversion After Condition Precedent Satisfaction	90 days
Blackstone CQP Holdco LP [Member] | Class B units [Member]
Schedule of Equity Method Investments [Line Items]
Partnership Units, Accreted Conversion Ratio | Rate	1.49

Summarized Financial Informat23

Summarized Financial Information for Cheniere Partners (Details) - Cheniere Energy Partners, LP [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Revenues (including transactions with affiliates)	$ 67,689	$ 67,328	$ 135,219	$ 134,549
Operating costs and expenses (including transactions with affiliates)	(71,713)	(75,054)	(149,819)	(137,189)
Other expense	(56,019)	(218,498)	(224,119)	(293,317)
Net loss	(60,043)	$ (226,224)	(238,719)	$ (295,957)
Current assets	624,358		624,358		$ 486,520
Non-current assets	11,684,179		11,684,179		9,900,995
Total assets	12,308,537		12,308,537		10,387,515
Current liabilities	408,308		408,308		214,756
Non-current liabilities	11,057,700		11,057,700		9,042,030
Partners’ equity	842,529		842,529		1,130,729
Total liabilities and partners’ equity	$ 12,308,537		$ 12,308,537		$ 10,387,515

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Related Party Transaction [Line Items]
General and administrative expense—affiliate	$ 254,000	$ 218,000	$ 508,000	$ 507,000
Cheniere Energy, Inc. [Member] | Management Services Agreement [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Committed Annual Fee			1,000,000
Related Party Transactions, Committed Quarterly Fee			250,000
General and administrative expense—affiliate	$ 300,000	$ 200,000	$ 500,000	$ 500,000
Related Party Agreement, Renewal Additional Term			1 year
Related Party Agreement, Nonrenewal Notice Period			90 days
Related Party Agreement, Termination Notice Period After Separation Event			60 days
Related Party Agreement, Termination Period After Separation Event Notice			90 days
Related Party Agreement, Maximum Period Of Service After Separation Event Termination Notice			6 months

Distribution Received and Div25

Distribution Received and Dividends Paid (Details) - USD ($) $ / shares in Units, $ in Thousands	Aug. 14, 2015	Jul. 24, 2015	May. 29, 2015	May. 15, 2015	Feb. 27, 2015	Feb. 13, 2015	May. 30, 2014	May. 15, 2014	Mar. 03, 2014	Feb. 14, 2014	Jun. 30, 2015	Jun. 30, 2014
Schedule of Dividends Received [Line Items]
Total Distribution Received											$ 10,169	$ 10,169
Dividend Per Share			$ 0.020		$ 0.019		$ 0.019		$ 0.017
Total Dividend Paid			$ 4,634		$ 4,402		$ 4,402		$ 3,939
Cheniere Energy Partners, LP [Member]
Schedule of Dividends Received [Line Items]
Distribution Per Common Unit				$ 0.425		$ 0.425		$ 0.425		$ 0.425
Total Distribution Received				$ 5,084		$ 5,084		$ 5,084		$ 5,084
Subsequent Event [Member] | Cheniere Energy Partners, LP [Member]
Schedule of Dividends Received [Line Items]
Distribution Made to Limited Partner, Distributions Declared, Per Unit		$ 0.425
Distribution Made to Limited Partner, Cash Distributions Declared	$ 5,100