Cheniere Energy Partners 10-Q 8 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 03, 2017
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, 2017
Document Fiscal Year Focus	2,017
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, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 453	$ 219
Receivables	0	153
Other current assets	187	51
Total current assets	640	423
Total assets	640	423
Current liabilities
Accounts payable and accrued liabilities	84	78
Accrued liabilities—affiliate	528	0
Total current liabilities	612	78
Shareholders’ equity
Common shares: unlimited shares authorized, 231.7 million shares issued and outstanding at June 30, 2017 and December 31, 2016	664,931	664,931
Director voting share: 1 share authorized, issued and outstanding at June 30, 2017 and December 31, 2016	0	0
Additional paid-in-capital	(271,757)	(271,757)
Accumulated deficit	(393,146)	(392,829)
Total shareholders’ equity	28	345
Total liabilities and shareholders’ equity	$ 640	$ 423

Consolidated Balance Sheets Par

Consolidated Balance Sheets Parentheticals - shares	Jun. 30, 2017	Dec. 31, 2016
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 Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Statement [Abstract]
Equity income from investment in Cheniere Partners	$ 5,085	$ 5,085	$ 10,169	$ 10,169
Expenses
General and administrative expense	345	387	691	721
General and administrative expense—affiliate	263	257	527	514
Total expenses	608	644	1,218	1,235
Net income	$ 4,477	$ 4,441	$ 8,951	$ 8,934
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	$ 0.020	$ 0.040	$ 0.040

Consolidated Statement of Share

Consolidated Statement of Shareholders' Equity - 6 months ended Jun. 30, 2017 - 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, 2016	231,700,000	231,700,000
Total shareholders' equity, beginning of period at Dec. 31, 2016	$ 345	$ 664,931	$ (271,757)	$ (392,829)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends to shareholders	(9,268)	0	0	(9,268)
Net income	$ 8,951	$ 0	0	8,951
Common Stock, Shares, Outstanding, End of Period at Jun. 30, 2017	231,700,000	231,700,000
Total shareholders' equity, end of period at Jun. 30, 2017	$ 28	$ 664,931	$ (271,757)	$ (393,146)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities
Net income	$ 8,951	$ 8,934
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:
Receivables	153	0
Accounts payable and accrued liabilities	7	(21)
Accrued liabilities—affiliate	528	45
Other, net	(137)	(48)
Net cash used in operating activities	(667)	(1,259)
Cash flows from investing activities
Distributions from equity investment	10,169	10,169
Cash flows from financing activities
Dividends paid to shareholders	(9,268)	(9,268)
Net increase (decrease) in cash and cash equivalents	234	(358)
Cash and cash equivalents—beginning of period	219	917
Cash and cash equivalents—end of period	$ 453	$ 559

Nature of Business

Nature of Business	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	NATURE OF BUSINESS We are a limited liability company formed by Cheniere (NYSE American: LNG) to hold its limited partner interests in Cheniere Partners, a publicly traded limited partnership (NYSE American: CQP). Our only business consists of owning and holding Cheniere Partners’ limited partner common units, Class B units (“Class B units”) and subordinated units (collectively, the “Cheniere Partners units”) , along with cash or other property that we receive as distributions in respect of such units, and, accordingly, our consolidated operating results and financial condition are dependent on the performance of Cheniere Partners. As of June 30, 2017 , we owned a 55.9% limited partner interest in Cheniere Partners.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2017
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 and should be read in conjunction with the Consolidated Financial Statements and accompanying notes included in our annual report on Form 10-K for the year ended December 31, 2016 . In our opinion, all adjustments, consisting only of normal recurring adjustments necessary for a fair presentation, have been included. Results of operations for the three and six months ended June 30, 2017 are not necessarily indicative of the results of operations that will be realized for the year ending December 31, 2017 due to the anticipated distributions as a result of the conversion of our investment in Cheniere Partners from Class B units into common units. Accounting for Investment in Cheniere Partners As of both June 30, 2017 and December 31, 2016 , 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 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. Under the equity method of accounting, our share of Cheniere Partners’ net income (loss) would have been recorded in the period in which it was earned. The difference between our reported zero investment in Cheniere Partners as of both June 30, 2017 and December 31, 2016 and our ownership in Cheniere Partners’ reported net assets, excluding the beneficial conversion feature associated with the 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, 2017 and December 31, 2016 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 $878 million and $938 million as of June 30, 2017 and December 31, 2016 , respectively. Additional equity method losses that we incur will increase the suspended loss amount and equity method income will decrease the suspended loss amount. Due to our zero investment balance in, and suspended losses of, Cheniere Partners as of both June 30, 2017 and December 31, 2016 , 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, 2017
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, 2017 , our issued capitalization consisted of 231.7 million common shares, of which 191.5 million common shares were owned by Cheniere and its affiliates and 40.2 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, 2017
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 12.0 million 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 135.4 million 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 Fourth Amended and Restated Agreement of Limited Partnership of Cheniere Partners, dated as of February 14, 2017 (the “Partnership Agreement”). 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 45.3 million 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 , 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, 2017 , the accreted conversion ratio of the Class B units owned by us and Blackstone CQP Holdco was 2.04 and 1.99 , respectively. See Note 9—Subsequent Events for information regarding the subsequent conversion of the Class B units into common units.

Summarized Financial Informatio

Summarized Financial Information for Cheniere Partners	6 Months Ended
	Jun. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]
Summarized Financial Information for Cheniere Partners	SUMMARIZED FINANCIAL INFORMATION FOR CHENIERE PARTNERS Our consolidated operating results and financial condition are dependent on the performance and cash distributions 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’ operating results and financial position are contained in its quarterly report on Form 10-Q for the quarter ended June 30, 2017 , which is included in this filing as Exhibit 99.1 and incorporated herein by reference. Summarized Cheniere Partners Consolidated Statements of Operations Information (in millions) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Revenues (including transactions with affiliates) $ 992 $ 151 $ 1,883 $ 218 Operating costs and expenses (including transactions with affiliates) (792 ) (138 ) (1,464 ) (215 ) Other expense (154 ) (113 ) (326 ) (178 ) Net income (loss) $ 46 $ (100 ) $ 93 $ (175 ) Summarized Cheniere Partners Consolidated Balance Sheets Information (in millions) June 30, December 31, 2017 2016 (unaudited) Current assets $ 1,216 $ 958 Non-current assets 15,947 14,584 Total assets $ 17,163 $ 15,542 Current liabilities $ 623 $ 856 Non-current liabilities 16,054 14,243 Partners’ equity 486 443 Total liabilities and partners’ equity $ 17,163 $ 15,542

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS Services Agreement We, Cheniere and Cheniere Terminals, a wholly owned subsidiary of Cheniere, entered into a services agreement (the “Services Agreement”) pursuant to which we incur a fixed fee of $1.0 million per year, subject to adjustment for inflation, for certain general and administrative services, including the services of our officers who are also officers of Cheniere. In addition, we incur costs to reimburse Cheniere for certain third-party general and administrative expenses. 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 during each of the three months ended June 30, 2017 and 2016 and $0.5 million during each of the six months ended June 30, 2017 and 2016 . We had $0.5 million and zero of accrued liabilities—affiliate under the Services Agreement as of June 30, 2017 and December 31, 2016 , respectively. The Services Agreement has a term of one year and automatically renews for additional 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 and 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 We have 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, 2017
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. Due to our historical NOLs , we have recorded a full valuation allowance against our deferred tax assets at June 30, 2017 and December 31, 2016 . Accordingly, the Company has not recorded a provision for federal or state income taxes in any of the periods included in the accompanying Consolidated Financial Statements. 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 ownership changes as defined by IRC Section 382 in 2008, 2010 and 2012. An analysis of the annual limitation on the utilization of Cheniere’s NOL s was performed in accordance with IRC Section 382. It was determined that IRC Section 382 will not limit the use of Cheniere’s NOL s over the carryover period. Cheniere will continue to monitor trading activity in its shares which may cause an additional ownership change and could ultimately affect our ability to fully utilize Cheniere’s existing NOL carryforwards.

Distributions Received and Divi

Distributions Received and Dividends Paid	6 Months Ended
	Jun. 30, 2017
Distributions Received and Dividends Paid [Abstract]
Distributions Received and Dividends Paid	DISTRIBUTIONS RECEIVED AND DIVIDENDS PAID Distributions received On a quarterly basis, we receive a $0.425 distribution per common unit on our 12.0 million common units of Cheniere Partners. We have used these distributions from Cheniere Partners to establish cash reserves to pay general and administrative expenses (including affiliate) and to pay dividends. We received total distributions of $5.1 million from Cheniere Partners during each of the three months ended June 30, 2017 and 2016 and total distributions of $10.2 million from Cheniere Partners during each of the six months ended June 30, 2017 and 2016 . Dividends paid On a quarterly basis, we declare and pay a $0.020 dividend per common share on our 231.7 million common shares outstanding. We paid total dividends of $4.6 million during each of the three months ended June 30, 2017 and 2016 and total dividends of $9.3 million during each of the six months ended June 30, 2017 and 2016 .

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS As of June 30, 2017, we and Blackstone CQP Holdco owned 45.3 million and 100.0 million , respectively, of Cheniere Partners Class B units . On August 2, 2017, the Class B units held by us and Blackstone CQP Holdco mandatorily converted into common units in accordance with the terms of the Partnership Agreement. Upon conversion of the Class B units , we, Blackstone CQP Holdco and the public owned a 48.6% , 40.3% and 9.1% interest in Cheniere Partners, respectively. Our ownership is based on approximately 92.5 million converted common units, 135.4 million subordinated units and 12.0 million common units, and Blackstone CQP Holdco ’s ownership is based on approximately 199.0 million converted common units, but excludes any common units that may be deemed to be beneficially owned by Blackstone Group, an affiliate of Blackstone CQP Holdco.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2017
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 and should be read in conjunction with the Consolidated Financial Statements and accompanying notes included in our annual report on Form 10-K for the year ended December 31, 2016 . In our opinion, all adjustments, consisting only of normal recurring adjustments necessary for a fair presentation, have been included.
Accounting for Investment in Cheniere Partners, Policy	Accounting for Investment in Cheniere Partners As of both June 30, 2017 and December 31, 2016 , 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 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. Under the equity method of accounting, our share of Cheniere Partners’ net income (loss) would have been recorded in the period in which it was earned. The difference between our reported zero investment in Cheniere Partners as of both June 30, 2017 and December 31, 2016 and our ownership in Cheniere Partners’ reported net assets, excluding the beneficial conversion feature associated with the 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, 2017 and December 31, 2016 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 $878 million and $938 million as of June 30, 2017 and December 31, 2016 , respectively. Additional equity method losses that we incur will increase the suspended loss amount and equity method income will decrease the suspended loss amount. Due to our zero investment balance in, and suspended losses of, Cheniere Partners as of both June 30, 2017 and December 31, 2016 , 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, 2017
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’ operating results and financial position are contained in its quarterly report on Form 10-Q for the quarter ended June 30, 2017 , which is included in this filing as Exhibit 99.1 and incorporated herein by reference. Summarized Cheniere Partners Consolidated Statements of Operations Information (in millions) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Revenues (including transactions with affiliates) $ 992 $ 151 $ 1,883 $ 218 Operating costs and expenses (including transactions with affiliates) (792 ) (138 ) (1,464 ) (215 ) Other expense (154 ) (113 ) (326 ) (178 ) Net income (loss) $ 46 $ (100 ) $ 93 $ (175 ) Summarized Cheniere Partners Consolidated Balance Sheets Information (in millions) June 30, December 31, 2017 2016 (unaudited) Current assets $ 1,216 $ 958 Non-current assets 15,947 14,584 Total assets $ 17,163 $ 15,542 Current liabilities $ 623 $ 856 Non-current liabilities 16,054 14,243 Partners’ equity 486 443 Total liabilities and partners’ equity $ 17,163 $ 15,542

Nature of Business (Details)

Nature of Business (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Cheniere Partners [Member]
Nature Of Business [Line Items]
Limited Partners ownership percentage	55.90%	55.90%

Basis of Presentation (Details)

Basis of Presentation (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2017USD ($)item	Dec. 31, 2016USD ($)
Cheniere Partners [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Limited Partners ownership percentage	55.90%	55.90%
Equity Method Investments | $	$ 0	$ 0
Suspended losses | $	$ 878,000,000	$ 938,000,000
GP HoldCo [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Variable Interest Entity, Ownership Percentage	0.00%
GP HoldCo [Member] | Cheniere Partners GP [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
General Partner ownership percentage	100.00%
Cheniere Partners GP [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number Of Members Of The Board Of Directors | item	11
Cheniere Partners GP [Member] | Cheniere Holdings [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number Of Members Of The Board Of Directors | item	4
Cheniere [Member] | Cheniere Holdings [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, 2017shares
Common Stock [Member]
Schedule of Capitalization, Equity [Line Items]
Shares, Issued	231,700,000
Public Ownership of Cheniere Holdings, shares	40,200,000
Common Stock [Member] | Cheniere [Member] | Cheniere Holdings [Member]
Schedule of Capitalization, Equity [Line Items]
Shares Owned By Cheniere	191,500,000
Director Voting Share [Member] | Cheniere [Member] | Cheniere Holdings [Member]
Schedule of Capitalization, Equity [Line Items]
Shares Owned By Cheniere	1

Investment in Cheniere Partne21

Investment in Cheniere Partners - Narrative (Details) shares in Millions	6 Months Ended
	Jun. 30, 2017Rateshares
Common Units [Member] | Cheniere Partners [Member]
Schedule of Equity Method Investments [Line Items]
Partners Capital Account, Units, Units Held	12
Subordinated Units [Member] | Cheniere Partners [Member]
Schedule of Equity Method Investments [Line Items]
Partners Capital Account, Units, Units Held	135.4
Class B Units [Member] | Cheniere Partners [Member]
Schedule of Equity Method Investments [Line Items]
Partners Capital Account, Units, Units Held	45.3
Partnership Units, Conversion Ratio, Quarterly Compounded Rate	0.035
Partnership Units, Accreted Conversion Ratio | Rate	2.04
Cheniere Partners [Member] | Subordinated Units [Member]
Schedule of Equity Method Investments [Line Items]
Partnership Units, Conversion Ratio | Rate	1
Blackstone CQP Holdco [Member] | Class B Units [Member] | Cheniere Partners [Member]
Schedule of Equity Method Investments [Line Items]
Partners Capital Account, Units, Units Held	100
Partnership Units, Accreted Conversion Ratio | Rate	1.99

Summarized Financial Informat22

Summarized Financial Information for Cheniere Partners (Details) - Cheniere Partners [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Schedule of Equity Method Investments [Line Items]
Revenues (including transactions with affiliates)	$ 992	$ 151	$ 1,883	$ 218
Operating costs and expenses (including transactions with affiliates)	(792)	(138)	(1,464)	(215)
Other expense	(154)	(113)	(326)	(178)
Net income (loss)	46	$ (100)	93	$ (175)
Current assets	1,216		1,216		$ 958
Non-current assets	15,947		15,947		14,584
Total assets	17,163		17,163		15,542
Current liabilities	623		623		856
Non-current liabilities	16,054		16,054		14,243
Partners’ equity	486		486		443
Total liabilities and partners’ equity	$ 17,163		$ 17,163		$ 15,542

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Related Party Transaction [Line Items]
General and administrative expense—affiliate	$ 263	$ 257	$ 527	$ 514
Accrued liabilities—affiliate	528		528		$ 0
Management Services Agreement [Member] | Cheniere [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Committed Annual Fee			1,000
General and administrative expense—affiliate	263	$ 257	527	$ 514
Accrued liabilities—affiliate	$ 528		$ 528		$ 0
Related Party Agreement, Initial Term			1 year
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

Distributions Received and Di24

Distributions Received and Dividends Paid (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Schedule of Distribution Received and Dividend Paid [Line Items]
Total Distribution Received			$ 10,169	$ 10,169
Dividend Per Share			$ 0.020
Common Stock, Shares, Outstanding	231,700,000		231,700,000		231,700,000
Total Dividend Paid	$ 4,600	$ 4,600	$ 9,300	9,300
Cheniere Partners [Member]
Schedule of Distribution Received and Dividend Paid [Line Items]
Distribution Per Common Unit			$ 0.425
Total Distribution Received	$ 5,100	$ 5,100	$ 10,169	$ 10,169
Cheniere Partners [Member] | Common Units [Member]
Schedule of Distribution Received and Dividend Paid [Line Items]
Partners Capital Account, Units, Units Held	12,000,000		12,000,000

Subsequent Events (Details)

Subsequent Events (Details) - shares shares in Millions	Aug. 02, 2017	Jun. 30, 2017	Dec. 31, 2016
Cheniere Partners [Member]
Subsequent Event [Line Items]
Limited Partners ownership percentage		55.90%	55.90%
Cheniere Partners [Member] | Class B Units [Member]
Subsequent Event [Line Items]
Partners Capital Account, Units, Units Held		45.3
Cheniere Partners [Member] | Common Units [Member]
Subsequent Event [Line Items]
Partners Capital Account, Units, Units Held		12
Cheniere Partners [Member] | Subordinated Units [Member]
Subsequent Event [Line Items]
Partners Capital Account, Units, Units Held		135.4
Cheniere Partners [Member] | Blackstone CQP Holdco [Member] | Class B Units [Member]
Subsequent Event [Line Items]
Partners Capital Account, Units, Units Held		100
Subsequent Event [Member] | Cheniere Partners [Member]
Subsequent Event [Line Items]
Limited Partners ownership percentage	48.60%
Subsequent Event [Member] | Cheniere Partners [Member] | Common Units [Member]
Subsequent Event [Line Items]
Partners Capital Account, Units, Units Held	12
Number of Converted Common Units	92.5
Subsequent Event [Member] | Cheniere Partners [Member] | Subordinated Units [Member]
Subsequent Event [Line Items]
Partners Capital Account, Units, Units Held	135.4
Subsequent Event [Member] | Cheniere Partners [Member] | Blackstone CQP Holdco [Member]
Subsequent Event [Line Items]
Limited Partners ownership percentage	40.30%
Subsequent Event [Member] | Cheniere Partners [Member] | Blackstone CQP Holdco [Member] | Common Units [Member]
Subsequent Event [Line Items]
Number of Converted Common Units	199
Subsequent Event [Member] | Cheniere Partners [Member] | Public [Member]
Subsequent Event [Line Items]
Limited Partners ownership percentage	9.10%