Document_and_Entity_Informatio
Document and Entity Information Document | 9 Months Ended | |
Sep. 30, 2013 | Oct. 16, 2013 | |
Entity Information [Line Items] | ' | ' |
Entity Registrant Name | 'CHENIERE ENERGY INC | ' |
Entity Central Index Key | '0000003570 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 238,896,010 |
Entity Well-known Seasoned Issuer | 'No | ' |
Entity Voluntary Filers | 'No | ' |
Entity Current Reporting Status | 'Yes | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Current assets | ' | ' | ' |
Cash and cash equivalents | $374,164 | $201,711 | $214,995 |
Restricted cash and cash equivalents | 577,945 | 520,263 | ' |
Accounts and interest receivable | 26,079 | 3,486 | ' |
LNG inventory | 14,401 | 7,045 | ' |
Prepaid expenses and other | 16,471 | 16,058 | ' |
Total current assets | 1,009,060 | 748,563 | ' |
Non-current restricted cash and cash equivalents | 828,858 | 272,924 | ' |
Property, plant and equipment, net | 5,705,567 | 3,282,305 | ' |
Debt issuance costs, net | 340,856 | 220,949 | ' |
Non-current derivative assets | 64,309 | 0 | ' |
Goodwill | 76,819 | 76,819 | ' |
Intangible LNG assets | 4,366 | 4,356 | ' |
Advances under long-term contracts | 12,528 | ' | 0 |
Other | 83,490 | 33,169 | ' |
Total assets | 8,125,853 | 4,639,085 | ' |
Current liabilities | ' | ' | ' |
Accounts payable | 6,345 | 74,360 | ' |
Accrued liabilities | 172,015 | 58,737 | ' |
Deferred revenue | 26,585 | 26,540 | ' |
Other | 8,292 | 126 | ' |
Total current liabilities | 213,237 | 159,763 | ' |
Long-term debt, net of discount | 5,574,195 | 2,167,113 | ' |
Non-current derivative liabilities | 0 | 26,424 | ' |
Long-term deferred revenue | 18,500 | 21,500 | ' |
Other non-current liabilities | 3,572 | 2,680 | ' |
Commitments and contingencies | ' | ' | ' |
Stockholders' deficit | ' | ' | ' |
Preferred stock, $.0001 par value, 5.0 million shares authorized, none issued | 0 | 0 | ' |
Common stock, $.003 par value, Authorized: 480.0 million shares at September 30, 2013 and December 31, 2012; Issued and outstanding: 238.9 million shares and 223.4 million shares at September 30, 2013 and December 31, 2012, respectively | 718 | 671 | ' |
Treasury stock: 7.8 million shares and 4.7 million shares at September 30, 2013 and December 31, 2012, respectively | -128,252 | -39,115 | ' |
Additional paid-in-capital | 2,382,424 | 2,168,781 | ' |
Accumulated deficit | -1,965,677 | -1,592,985 | ' |
Accumulated other comprehensive loss | 0 | -27,351 | ' |
Total stockholders' equity | 289,213 | 510,001 | ' |
Non-controlling interest | 2,027,136 | 1,751,604 | ' |
Total equity | 2,316,349 | 2,261,605 | ' |
Total liabilities and equity | $8,125,853 | $4,639,085 | ' |
Consolidated_Balance_Sheet_Par
Consolidated Balance Sheet Parentheticals (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Statement of Financial Position [Abstract] | ' | ' |
Preferred Stock, Par Value (US$ per share) | $0.00 | $0.00 |
Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Common Stock, Par Value Per Share (US$ per share) | $0.00 | $0.00 |
Common Stock, Shares Authorized | 480,000,000 | 480,000,000 |
Common Stock, Shares, Issued | 238,800,000 | 223,400,000 |
Common Stock, Shares, Outstanding | 238,800,000 | 223,400,000 |
Treasury Stock, Shares | 7,800,000 | 4,700,000 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenues | ' | ' | ' | ' |
LNG terminal revenues | $66,735 | $65,939 | $199,222 | $199,269 |
Marketing and trading revenues | 590 | -292 | 441 | -1,641 |
Other | 385 | 351 | 1,130 | 1,171 |
Total revenues | 67,710 | 65,998 | 200,793 | 198,799 |
Operating costs and expenses | ' | ' | ' | ' |
LNG terminal operating expense | 30,098 | 14,056 | 76,425 | 36,606 |
LNG terminal development expense | 11,046 | 11,721 | 50,214 | 54,629 |
Depreciation, depletion and amortization | 15,246 | 15,233 | 45,533 | 47,001 |
General and administrative expense | 57,096 | 79,427 | 277,971 | 120,236 |
Other | 100 | 78 | 258 | 244 |
Total operating costs and expenses | 113,586 | 120,515 | 450,401 | 258,716 |
Loss from operations | -45,876 | -54,517 | -249,608 | -59,917 |
Other income (expense) | ' | ' | ' | ' |
Interest expense, net | -52,528 | -45,504 | -134,806 | -159,719 |
Loss on early extinguishment of debt | 0 | 0 | 80,510 | 15,098 |
Derivative gain (loss), net | -22,335 | 287 | 55,706 | -288 |
Other income (expense) | 65 | -12,081 | 954 | -11,500 |
Total other expense | -74,798 | -57,298 | -158,656 | -186,605 |
Loss before income taxes and non-controlling interest | -120,674 | -111,815 | -408,264 | -246,522 |
Income tax provision | -1,809 | -61 | -2,751 | -211 |
Net loss | -122,483 | -111,876 | -411,015 | -246,733 |
Non-controlling interest | 21,659 | 2,875 | 38,323 | 8,277 |
Net loss attributable to common stockholders | ($100,824) | ($109,001) | ($372,692) | ($238,456) |
Net loss per share attributable to common stockholders - basic and diluted | ($0.46) | ($0.52) | ($1.71) | ($1.40) |
Weighted average number of common shares outstanding - basic and diluted | 220,734 | 208,712 | 217,940 | 170,414 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Loss (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Statement of Other Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net loss | ($122,483) | ($111,876) | ($411,015) | ($246,733) |
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ' | ' | ' |
Loss on settlements retained in other comprehensive income | 0 | 0 | -30 | 0 |
Change in fair value of of interest rate cash flow hedges | 0 | -29,676 | 21,297 | -29,676 |
Losses reclassified into earnings as a result of discontinuance of cash flow hedge accounting | 0 | 0 | 5,973 | 0 |
Foreign currency translation | 135 | 153 | 111 | 137 |
Total other comprehensive income (loss) | 135 | -29,523 | 27,351 | -29,539 |
Comprehensive loss | -122,348 | -141,399 | -383,664 | -276,272 |
Comprehensive loss attributable to noncontrollin interest | 21,659 | 2,875 | 36,291 | 8,277 |
Comprehensive loss attributable to common stockholders | ($100,689) | ($138,524) | ($347,373) | ($267,995) |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders Equity (Deficit) (USD $) | Total | Common Stock | Treasury Stock | Additional Paid-in Capital | Accumulated Deficit | Accumulated Other Comprehensive Loss | Noncontrolling Interest | Common Stock | Common Stock | Common Stock |
In Thousands, unless otherwise specified | Accumulated Other Comprehensive Loss | Noncontrolling Interest | ||||||||
Stockholders' Equity, Beginning of Period at Dec. 31, 2012 | $2,261,605 | $671 | ($39,115) | $2,168,781 | ($1,592,985) | ($27,351) | $1,751,604 | ' | ' | ' |
Shares Issued, Beginning of Period at Dec. 31, 2012 | ' | 223,397 | 4,727 | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuances of stock | ' | 23 | ' | ' | ' | ' | ' | ' | ' | ' |
Issuances of stock | 274 | 0 | ' | 274 | ' | ' | ' | ' | ' | ' |
Issuances of restricted stock | ' | 18,531 | ' | ' | ' | ' | ' | ' | ' | ' |
Issuances of restricted stock | 0 | 56 | ' | -56 | ' | ' | ' | ' | ' | ' |
Forfeitures of restricted stock | ' | -129 | 70 | ' | ' | ' | ' | ' | ' | ' |
Forfeitures of restricted stock | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation | 211,346 | ' | ' | 211,346 | ' | ' | ' | ' | ' | ' |
Shares Paid for Tax Withholding for Share Based Compensation | ' | -3,013 | 3,013 | ' | ' | ' | ' | ' | ' | ' |
Adjustments Related to Tax Withholding for Share-based Compensation | -89,137 | 9 | 89,137 | -9 | ' | ' | ' | ' | ' | ' |
Tax benefit from stock-based compensation | 2,070 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency translation | 111 | ' | ' | ' | ' | 111 | ' | ' | ' | ' |
Interest rate cash flow hedges | 27,239 | ' | ' | ' | ' | 25,207 | 2,032 | ' | ' | ' |
Loss attributable to non-controlling interest | -38,323 | ' | ' | ' | ' | ' | -38,323 | ' | ' | ' |
Sale of common units to non-controlling interest | ' | ' | ' | ' | ' | ' | ' | 363,902 | 2,033 | 361,869 |
Distribution to non-controlling interest | -50,046 | ' | ' | ' | ' | ' | -50,046 | ' | ' | ' |
Net loss | -372,692 | ' | ' | ' | -372,692 | ' | ' | ' | ' | ' |
Stockholders' Equity, End of Period at Sep. 30, 2013 | $2,316,349 | $718 | ($128,252) | $2,382,424 | ($1,965,677) | $0 | $2,027,136 | ' | ' | ' |
Shares Issued, End of Period at Sep. 30, 2013 | ' | 238,809 | 7,810 | ' | ' | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | 79 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |
Cash flows from operating activities | ' | ' | ' | |
Net loss attributable to common stockholders | ($372,692) | ($238,456) | ' | |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' | ' | |
Depreciation, depletion and amortization | 45,533 | 47,001 | ' | |
Loss on early extinguishment of debt | 80,510 | 15,095 | ' | |
Amortization of debt issuance and discount costs | 8,590 | 18,073 | ' | |
Non-cash compensation | 202,785 | 53,961 | ' | |
Non-cash LNG inventory write-downs | 27,851 | 9,763 | ' | |
Non-cash derivative (gain) loss, net | -55,053 | 698 | ' | |
Net loss attributable to non-controlling interest | -38,323 | -8,277 | ' | |
Use of restricted cash and cash equivalents | 113,626 | 24,139 | ' | |
Crest royalty | 0 | -13,384 | ' | |
Other | -2,622 | -2,715 | ' | |
Changes in operating assets and liabilities: | ' | ' | ' | |
Accounts and interest receivable | -21,514 | -23,871 | ' | |
Accounts payable and accrued liabilities | 55,043 | 19,413 | ' | |
LNG inventory, net | -29,071 | -6,308 | ' | |
Deferred revenue | -2,955 | -3,104 | ' | |
Prepaid expenses and other | -34,011 | 2,993 | ' | |
Net cash used in operating activities | -22,303 | -104,979 | ' | |
Cash flows from investing activities | ' | ' | ' | |
LNG terminal and pipeline costs, net | -2,448,690 | -871,167 | ' | |
Use of restricted cash and cash equivalents | 2,466,613 | 1,352,656 | ' | |
Investment in Cheniere Partners | -11,122 | -534,940 | ' | |
Other | -26,471 | -21,596 | ' | |
Net cash provided by (used in) investing activities | -19,670 | -75,047 | ' | |
Cash flows from financing activities | ' | ' | ' | |
Proceeds from Sabine Pass Liquefaction Senior Notes, net | 3,012,500 | 0 | ' | |
Proceeds from CTPL Credit Facility, net | 391,978 | 0 | ' | |
Proceeds from sale of common units by Cheniere Partners | 364,775 | 205,174 | ' | |
Proceeds from 2013 Liquefaction Credit Facility | 100,000 | 0 | ' | |
Proceeds from sale of common stock, net | 274 | 1,200,717 | ' | |
Proceeds from sales of Class B units by Cheniere Partners | -3 | 887,563 | 1,387,339 | [1] |
Investments in restricted cash and cash equivalents | -3,182,735 | -1,425,209 | ' | |
Repurchases and prepayments of debt | 0 | -776,514 | ' | |
Debt issuance and deferred financing costs | -235,250 | -210,828 | ' | |
Proceeds from (repayments of) 2012 Liquefaction Credit Facility | 100,000 | 100,000 | ' | |
Distributions to non-controlling interest | -50,046 | -24,628 | ' | |
Purchase of treasury shares | -89,137 | -20,414 | ' | |
Excess tax benefit from stock-based compensation | 2,070 | 0 | ' | |
Net cash provided by used in financing activities | 214,426 | -64,139 | ' | |
Net increase (decrease) in cash and cash equivalents | 172,453 | -244,165 | ' | |
Cash and cash equivalentsbbeginning of period | 201,711 | 459,160 | ' | |
Cash and cash equivalentsbend of period | $374,164 | $214,995 | $374,164 | |
[1] | In May 2012, Cheniere Partners, Cheniere and Blackstone CQP Holdco LP ("Blackstone") entered into a unit purchase agreement (the "Blackstone Unit Purchase Agreement") whereby Cheniere Partners agreed to sell to Blackstone in a private placement 100.0 million Class B units of Cheniere Partners ("Class B units") at a price of $15.00 per Class B unit. Cheniere Partners had issued and sold all 100.0 million Class B units to Blackstone as of DecemberB 31, 2012. See Note 5b"Variable Interest Entity". |
ORGANIZATION_AND_NATURE_OF_OPE
ORGANIZATION AND NATURE OF OPERATIONS (Notes) | 9 Months Ended |
Sep. 30, 2013 | |
ORGANIZATION AND NATURE OF OPERATIONS [Abstract] | ' |
Nature of Operations [Text Block] | ' |
ORGANIZATION AND NATURE OF OPERATIONS | |
Cheniere Energy, Inc., a Delaware corporation, is a Houston-based energy company primarily engaged in liquefied natural gas ("LNG") related businesses. We own and operate the Sabine Pass liquefied natural gas ("LNG") terminal in Louisiana through our 57.9% ownership interest in and management agreements with Cheniere Energy Partners, L.P. ("Cheniere Partners") (NYSE MKT: CQP), which is a publicly traded partnership that we created in 2007. The Sabine Pass LNG terminal is located on the Sabine Pass deep water shipping channel less than four miles from the Gulf Coast. The Sabine Pass LNG terminal has regasification facilities owned by Cheniere Partners' wholly owned subsidiary, Sabine Pass LNG, L.P. ("Sabine Pass LNG") that includes existing infrastructure of five LNG storage tanks with capacity of approximately 16.9 Bcfe, two docks that can accommodate vessels with capacity of up to 265,000 cubic meters and vaporizers with regasification capacity of approximately 4.0 Bcf/d. | |
Cheniere Partners is developing natural gas liquefaction facilities (the "Liquefaction Project") at the Sabine Pass LNG terminal adjacent to the existing regasification facilities through a wholly owned subsidiary, Sabine Pass Liquefaction, LLC ("Sabine Pass Liquefaction"). We plan to construct up to six Trains, which are in various stages of development. Each Train is expected to have nominal production capacity of approximately 4.5 million tonnes per annum ("mtpa") of LNG. | |
In May 2013, we sold our ownership interests in Cheniere Creole Trail Pipeline, L.P. ("CTPL") and Cheniere Pipeline GP Interests, LLC (collectively, the "Creole Trail Pipeline Business") to Cheniere Partners for $480.0 million and were reimbursed $13.9 million for certain expenditures incurred prior to the closing date. Concurrent with the Creole Trail Pipeline Business sale closing, we acquired 12.0 million Class B units from Cheniere Partners for aggregate consideration of $180.0 million pursuant to a unit purchase agreement between Cheniere Partners and Cheniere Class B Units Holdings, LLC, our wholly owned subsidiary. As a result of the two transactions, we received net cash of $313.9 million. | |
Approximately one-half of the receiving capacity at the Sabine Pass LNG terminal is contracted to two multinational energy companies. The other half is held by Sabine Pass Liquefaction for use in connection with the Liquefaction Project. One of our wholly owned subsidiaries, Cheniere Marketing, LLC ("Cheniere Marketing"), markets LNG on its own behalf, and through a series of agreements, has the right to utilize the regasification capacity held by Sabine Pass Liquefaction during the construction phase of the Liquefaction Project. Cheniere Marketing also holds a 104.0 million MMBtu per year LNG sale and purchase agreement ("SPA") with Sabine Pass Liquefaction under which it has the right to purchase LNG from Sabine Pass Liquefaction for a tiered incentive-based fee. | |
We are also in various stages of developing other projects, including LNG facilities and associated pipelines, each of which, among other things, will require acceptable commercial and financing arrangements before we make a final investment decision. | |
Unless the context requires otherwise, references to the "Company", "Cheniere", "we", "us" and "our" refer to Cheniere Energy, Inc. and its subsidiaries, including our publicly traded subsidiary partnership, Cheniere Partners. |
Basis_of_Presentation_Notes
Basis of Presentation (Notes) | 9 Months Ended |
Sep. 30, 2013 | |
Basis of Presentation [Abstract] | ' |
Basis of Accounting, Policy [Policy Text Block] | ' |
BASIS OF PRESENTATION | |
The accompanying unaudited Consolidated Financial Statements of Cheniere Energy, Inc. have been prepared in accordance with generally accepted accounting principles in the United States ("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. | |
Results of operations for the three and nine months ended September 30, 2013 are not necessarily indicative of the results of operations that will be realized for the year ending December 31, 2013. | |
Certain reclassifications have been made to prior period information to conform to the current presentation. The reclassifications had no effect on our overall consolidated financial position, results of operations or cash flows. 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, 2012, as amended by Amendment No. 1 on Form 10-K/A. |
Restricted_Cash_and_Cash_Equiv
Restricted Cash and Cash Equivalents | 9 Months Ended |
Sep. 30, 2013 | |
Restricted Cash and Cash Equivalents [Abstract] | ' |
Restricted Cash and Cash Equivalents | ' |
RESTRICTED CASH AND CASH EQUIVALENTS | |
Restricted cash and cash equivalents consist of funds that are contractually restricted as to usage or withdrawal and have been presented separately from cash and cash equivalents on our Consolidated Balance Sheets. | |
Amounts that are designated as restricted cash and cash equivalents are contractually restricted as to usage or withdrawal and will not become available to us as cash and cash equivalents. For these amounts, we have presented increases and decreases as "Investments in (uses of) of restricted cash and cash equivalents" in our Consolidated Statement of Cash Flows. These amounts that represent non-cash transactions within our Consolidated Statement of Cash Flows present the effect of sources and uses of restricted cash and cash equivalents as they relate to the changes to assets and liabilities in our Consolidated Balance Sheets. This presentation does not impact the total amount of operating, investing or financing cash flows related to these items, however , they are presented on a gross basis within each of those categories so as to reconcile the change in non-cash activity that occurs on the balance sheet from period to period. | |
Restricted cash and cash equivalents include the following: | |
Sabine Pass LNG Senior Notes Debt Service Reserve | |
Sabine Pass LNG, L.P. ("Sabine Pass LNG") has consummated private offerings of an aggregate principal amount of $1,665.5 million, before discount, of Senior Secured Notes due 2016 (the "2016 Notes") and $420.0 million of Senior Secured Notes due 2020 (the "2020 Notes") (See Note 8—"Long-Term Debt"). Collectively, the 2016 Notes and the 2020 Notes are referred to as the "Sabine Pass LNG Senior Notes." Under the indentures governing the Sabine Pass LNG Senior Notes (the "Sabine Pass LNG Indentures"), except for permitted tax distributions, Sabine Pass LNG may not make distributions until certain conditions are satisfied, including that there must be on deposit in an interest payment account an amount equal to one-sixth of the semi-annual interest payment multiplied by the number of elapsed months since the last semi-annual interest payment and there must be on deposit in a permanent debt service reserve fund an amount equal to one semi-annual interest payment. Distributions are permitted only after satisfying the foregoing funding requirements, a fixed charge coverage ratio test of 2:1 and other conditions specified in the Sabine Pass LNG Indentures. | |
As of September 30, 2013 and December 31, 2012, we classified $53.0 million and $17.4 million, respectively, as current restricted cash and cash equivalents for the payment of interest due within twelve months. As of both September 30, 2013 and December 31, 2012, we classified the permanent debt service reserve fund of $76.1 million as non-current restricted cash and cash equivalents. These cash accounts are controlled by a collateral trustee, and, therefore, are shown as restricted cash and cash equivalents on our Consolidated Balance Sheets. | |
Liquefaction Reserve | |
In July 2012, Sabine Pass Liquefaction closed on a $3.6 billion senior secured credit facility (the "2012 Liquefaction Credit Facility"). In February and April 2013, Sabine Pass Liquefaction entered into $2.0 billion, before premium, of Senior Secured Notes due in 2021 (the "2021 Sabine Pass Liquefaction Senior Notes") and $1.0 billion of Senior Secured Notes due in 2023 (the "2023 Sabine Pass Liquefaction Senior Notes" and collectively with the 2021 Sabine Pass Liquefaction Senior Notes, the "Sabine Pass Liquefaction Senior Notes"). In May 2013, Sabine Pass Liquefaction closed four credit facilities aggregating $5.9 billion (collectively the "2013 Liquefaction Credit Facilities"), which amended and restated the 2012 Liquefaction Credit Facility. See Note 8—"Long-Term Debt". Under the terms and conditions of the 2012 Liquefaction Credit Facility and the 2013 Liquefaction Credit Facilities, Sabine Pass Liquefaction is required to deposit all cash received into collateral accounts controlled by a collateral trustee. Therefore, all of Sabine Pass Liquefaction's cash and cash equivalents are shown as restricted cash and cash equivalents on our Consolidated Balance Sheets. As of September 30, 2013 and December 31, 2012, we classified $133.5 million and $75.1 million, respectively, as current restricted cash and cash equivalents held by Sabine Pass Liquefaction for the payment of current liabilities related to the Liquefaction Project, and $665.1 million and $196.3 million, respectively, as non-current restricted cash and cash equivalents held by Sabine Pass Liquefaction for future Liquefaction Project construction costs. | |
CTPL Reserve | |
In May 2013, CTPL entered into a $400.0 million term loan facility (the "CTPL Credit Facility"). As of September 30, 2013, we classified $23.5 million and $87.2 million as current and non-current restricted cash and cash equivalents, respectively, held by CTPL because such funds may only be used for modifications of the Creole Trail Pipeline in order to enable bi-directional natural gas flow and for the payment of interest during construction of such modifications. | |
Other Restricted Cash and Cash Equivalents | |
As of September 30, 2013 and December 31, 2012, $339.9 million and $419.3 million, respectively, of cash and cash equivalents were held by Sabine Pass LNG and Cheniere Partners that are considered restricted to Cheniere. As of September 30, 2013 and December 31, 2012, $28.0 million and $8.5 million, respectively, had been classified as current restricted cash and cash equivalents on our Consolidated Balance Sheets due to various other contractual restrictions. As of both September 30, 2013 and December 31, 2012, $0.5 million had been classified as non-current restricted cash and cash equivalents due to various other contractual restrictions on our Consolidated Balance Sheets. |
Property_Plant_and_Equipment
Property, Plant and Equipment | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
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 and other, as follows (in thousands): | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
LNG terminal costs | ||||||||
LNG terminal | $ | 2,233,748 | $ | 2,233,595 | ||||
LNG terminal construction-in-process | 3,735,876 | 1,269,798 | ||||||
LNG site and related costs, net | 5,766 | 5,398 | ||||||
Accumulated depreciation | (278,071 | ) | (235,275 | ) | ||||
Total LNG terminal costs, net | 5,697,319 | 3,273,516 | ||||||
Fixed assets and other | ||||||||
Computer and office equipment | 7,808 | 7,014 | ||||||
Furniture and fixtures | 4,167 | 4,057 | ||||||
Computer software | 13,125 | 13,012 | ||||||
Leasehold improvements | 7,226 | 6,989 | ||||||
Other | 7,552 | 6,844 | ||||||
Accumulated depreciation | (31,630 | ) | (29,127 | ) | ||||
Total fixed assets, net | 8,248 | 8,789 | ||||||
Property, plant and equipment, net | $ | 5,705,567 | $ | 3,282,305 | ||||
LNG Terminal Costs | ||||||||
Depreciation expense related to the Sabine Pass LNG terminal totaled $14.4 million and $14.5 million for the three months ended September 30, 2013 and 2012, respectively. Depreciation expense related to the Sabine Pass LNG terminal totaled $43.0 million for each of the nine months ended September 30, 2013 and 2012. | ||||||||
In June 2012, we began capitalizing costs associated with Train 1 and Train 2 of the Liquefaction Project, and in May 2013, we began capitalizing costs associated with Train 3 and Train 4 of the Liquefaction Project. For the three months ended September 30, 2013 and 2012, we capitalized $30.2 million and $14.0 million of interest expense related to the construction of the Liquefaction Project, respectively. For the nine months ended September 30, 2013 and 2012, we capitalized $125.0 million and $14.0 million of interest expense related to the construction of the Liquefaction Project, respectively. | ||||||||
Fixed Assets and Other | ||||||||
Depreciation expense related to our fixed assets and other totaled $0.8 million for each of the three months ended September 30, 2013 and 2012. Depreciation expense related to our fixed assets and other totaled $2.5 million and $3.6 million for the nine months ended September 30, 2013 and 2012, respectively. |
NonControlling_Interest
Non-Controlling Interest | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Noncontrolling Interest [Abstract] | ' | |||
Noncontrolling Interest | ' | |||
NON-CONTROLLING INTEREST | ||||
Cheniere Partners financial statements are consolidated in our consolidated financial statements and we record the partnership's other partners' equity as a non-controlling interest. The following table sets forth the components of our non-controlling interest balance since inception attributable to third-party investors’ interests at September 30, 2013 (in thousands): | ||||
Net proceeds from Cheniere Partners’ issuance of common units (1) | $ | 719,572 | ||
Net proceeds from CLNGH’s sale of Cheniere Partners common units (2) | 203,946 | |||
Distributions to Cheniere Partners’ non-controlling interest | (207,396 | ) | ||
Net proceeds from Cheniere Partners' issuance of Class B units (3) | 1,387,339 | |||
Non-controlling interest share of loss of Cheniere Partners | (76,325 | ) | ||
Non-controlling interest at September 30, 2013 | $ | 2,027,136 | ||
-1 | In March and April 2007, we and Cheniere Partners completed a public offering of 15.5 million Cheniere Partners common units (the "Cheniere Partners IPO"). Cheniere Partners received $98.4 million in net proceeds from the issuance of its common units to the public. | |||
In January 2011, Cheniere Partners initiated an at-the-market program to sell up to 1.0 million common units, the proceeds from which would be used primarily to fund development costs associated with the Liquefaction Project. As of December 31, 2011, Cheniere Partners had sold 0.5 million common units with net proceeds of $9.0 million. During the year ended December 31, 2012, Cheniere Partners sold 0.5 million common units with net proceeds of $11.1 million. | ||||
In September 2011, Cheniere Partners sold 3.0 million common units in an underwritten public offering and 1.1 million common units to Cheniere Common Units Holding, LLC, a wholly owned subsidiary of Cheniere, at a price of $15.25 per common unit. Cheniere Partners received net proceeds of $43.3 million and $16.4 million from the public offering and Cheniere Common Units Holding, LLC sale, respectively. | ||||
In September 2012, Cheniere Partners sold 8.0 million common units in an underwritten public offering at a price of $25.07 per common unit for net cash proceeds of $194.0 million. | ||||
In March 2013, Cheniere Partners sold 17.6 million common units in a registered direct offering to institutional investors at a price of $20.75 per common unit for net proceeds of $364.8 million. | ||||
-2 | In conjunction with the Cheniere Partners IPO, Cheniere LNG Holdings, LLC ("CLNGH") sold a portion of the Cheniere Partners common units held by it to the public, realizing net proceeds of $203.9 million, which included $39.4 million of net proceeds realized once the underwriters exercised their option to purchase an additional 2.0 million common units from Holdings. | |||
-3 | In May 2012, Cheniere Partners, Cheniere and Blackstone CQP Holdco LP ("Blackstone") entered into a unit purchase agreement (the "Blackstone Unit Purchase Agreement") whereby Cheniere Partners agreed to sell to Blackstone in a private placement 100.0 million Class B units of Cheniere Partners ("Class B units") at a price of $15.00 per Class B unit. Cheniere Partners had issued and sold all 100.0 million Class B units to Blackstone as of December 31, 2012. See Note 5—"Variable Interest Entity". |
Variable_Interest_Entity
Variable Interest Entity | 9 Months Ended |
Sep. 30, 2013 | |
Variable Interest Entity [Abstract] | ' |
Variable Interest Entities | ' |
VARIABLE INTEREST ENTITY | |
Cheniere Energy Partners | |
Cheniere Partners is a master limited partnership formed by us to own and operate the Sabine Pass LNG terminal and related assets. As of September 30, 2013, we owned 57.9% of Cheniere Partners in the form of 12.0 million common units, 45.3 million Class B units, 135.4 million subordinated units and a 2% general partner interest. Cheniere Energy Partners GP, LLC ("Cheniere Partners GP"), our wholly owned subsidiary, is the general partner of Cheniere Partners. In May 2012, Cheniere Partners, Cheniere and Blackstone entered into the Blackstone Unit Purchase Agreement whereby Cheniere Partners agreed to sell to Blackstone in a private placement 100.0 million Class B units at a price of $15.00 per Class B unit. In August 2012, all conditions to funding were met and Blackstone purchased its initial 33.3 million Class B units, and as of December 31, 2012, Blackstone had purchased the remaining 66.7 million Class B units. At initial funding, the board of directors of Cheniere Partners GP was modified to include three directors appointed by Blackstone, four directors appointed by us and four independent directors mutually agreed by Blackstone and us and appointed by us. In addition, we have provided Blackstone with a right to maintain one board seat on our board of directors. A quorum consists of a majority of all directors, including at least two directors appointed by Blackstone, two directors appointed by us and two independent directors. Blackstone will no longer be entitled to appoint directors in the event that Blackstone's ownership in Cheniere Partners is less than: (i) 20% of outstanding common units, subordinated units and Class B units, and (ii) 50.0 million Class B units. | |
As a result of contractual changes in the governance of Cheniere Partners GP in connection with the Blackstone Unit Purchase Agreement, we have determined that Cheniere Partners GP is a variable interest entity and that we, as the holder of the equity at risk, do not have a controlling financial interest due to the rights held by Blackstone. However, we continue to consolidate Cheniere Partners as a result of Blackstone's right to maintain one board seat on our board of directors which creates a de facto agency relationship between Blackstone and us. GAAP requires that when a de facto agency relationship exists, one of the members of the de facto agency relationship must consolidate the variable interest entity based on certain criteria. As a result, we consolidate Cheniere Partners in our consolidated financial statements. |
Accrued_Liabilities
Accrued Liabilities | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Accounts Payable and Accrued Liabilities [Abstract] | ' | ||||||||
Accrued Liabilities | ' | ||||||||
ACCRUED LIABILITIES | |||||||||
As of September 30, 2013 and December 31, 2012, accrued liabilities consisted of the following (in thousands): | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
Accrued interest expense and related fees | $ | 97,758 | $ | 16,327 | |||||
Payroll | 25,693 | 6,369 | |||||||
LNG liquefaction costs | 33,956 | 27,919 | |||||||
LNG terminal costs | 1,650 | 977 | |||||||
Other accrued liabilities | 12,958 | 7,145 | |||||||
Accrued liabilities | $ | 172,015 | $ | 58,737 | |||||
LongTerm_Debt
Long-Term Debt | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Long-term Debt | ' | ||||||||
As of September 30, 2013 and December 31, 2012, our long-term debt consisted of the following (in thousands): | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
Long-term debt | |||||||||
2016 Notes | $ | 1,665,500 | $ | 1,665,500 | |||||
2020 Notes | 420,000 | 420,000 | |||||||
2021 Sabine Pass Liquefaction Senior Notes | 2,000,000 | — | |||||||
2023 Sabine Pass Liquefaction Senior Notes | 1,000,000 | — | |||||||
2012 Liquefaction Credit Facility | — | 100,000 | |||||||
2013 Liquefaction Credit Facilities | 100,000 | — | |||||||
CTPL Credit Facility | 400,000 | — | |||||||
Total long-term debt | 5,585,500 | 2,185,500 | |||||||
Long-term debt premium (discount) | |||||||||
2016 Notes | (14,866 | ) | (18,387 | ) | |||||
2021 Sabine Pass Liquefaction Senior Notes | 11,897 | — | |||||||
CTPL Credit Facility | (8,336 | ) | — | ||||||
Total long-term debt, net | $ | 5,574,195 | $ | 2,167,113 | |||||
Sabine Pass LNG Senior Notes | |||||||||
As of September 30, 2013 and December 31, 2012, Sabine Pass LNG had an aggregate principal amount of $1,665.5 million, before discount, of the 2016 Notes and $420.0 million of the 2020 Notes outstanding. Borrowings under the 2016 Notes and 2020 Notes bear interest at a fixed rate of 7.50% and 6.50%, respectively. The terms of the 2016 Notes and the 2020 Notes are substantially similar. Interest on the 2016 Notes is payable semi-annually in arrears on May 30 and November 30 of each year. Interest on the 2020 Notes is payable semi-annually in arrears on May 1 and November 1 of each year. Subject to permitted liens, the Sabine Pass LNG Senior Notes are secured on a first-priority basis by a security interest in all of Sabine Pass LNG's equity interests and substantially all of its operating assets. | |||||||||
Sabine Pass LNG may redeem some or all of its 2016 Notes at any time, and from time to time, at the redemption prices specified in the indenture governing the 2016 Notes, plus accrued and unpaid interest, if any, to the date of redemption. Sabine Pass LNG may redeem all or part of its 2020 Notes at any time on or after November 1, 2016, at fixed redemption prices specified in the indenture governing the 2020 Notes, plus accrued and unpaid interest, if any, to the date of redemption. Sabine Pass LNG may also, at its option, redeem all or part of the 2020 Notes at any time prior to November 1, 2016, at a "make-whole" price set forth in the indenture governing the 2020 Notes, plus accrued and unpaid interest, if any, to the date of redemption. At any time before November 1, 2015, Sabine Pass LNG may redeem up to 35% of the aggregate principal amount of the 2020 Notes at a redemption price of 106.5% of the principal amount of the 2020 Notes to be redeemed, plus accrued and unpaid interest, if any, to the redemption date, in an amount not to exceed the net proceeds of one or more completed equity offerings as long as Sabine Pass LNG redeems the 2020 Notes within 180 days of the closing date for such equity offering and at least 65% of the aggregate principal amount of the 2020 Notes originally issued remains outstanding after the redemption. | |||||||||
Under the Sabine Pass LNG Indentures, except for permitted tax distributions, Sabine Pass LNG may not make distributions until certain conditions are satisfied: there must be on deposit in an interest payment account an amount equal to one-sixth of the semi-annual interest payment multiplied by the number of elapsed months since the last semi-annual interest payment, and there must be on deposit in a permanent debt service reserve fund an amount equal to one semi-annual interest payment. Distributions are permitted only after satisfying the foregoing funding requirements, a fixed charge coverage ratio test of 2:1 and other conditions specified in the Sabine Pass LNG Indentures. During the three months ended September 30, 2013 and 2012, Sabine Pass LNG made distributions of $93.0 million and $36.2 million, respectively, after satisfying all the applicable conditions in the Sabine Pass LNG Indentures. During the nine months ended September 30, 2013 and 2012, Sabine Pass LNG made distributions of $242.1 million and $182.9 million, respectively, after satisfying all the applicable conditions in the Sabine Pass LNG Indentures. | |||||||||
Sabine Pass Liquefaction Senior Notes | |||||||||
In February 2013 and April 2013, Sabine Pass Liquefaction issued an aggregate principal amount of $2.0 billion, before premium, of the 2021 Sabine Pass Liquefaction Senior Notes. In April 2013, Sabine Pass Liquefaction also issued $1.0 billion of the 2023 Sabine Pass Liquefaction Senior Notes. Borrowings under the Sabine Pass Liquefaction Senior Notes bear interest at a fixed rate of 5.625%. Interest on the 2021 Sabine Pass Liquefaction Senior Notes is payable semi-annually in arrears on February 1 and August 1 of each year. Interest on the 2023 Sabine Pass Liquefaction Senior Notes is payable semi-annually in arrears on April 15 and October 15 of each year. | |||||||||
The terms of the 2021 Sabine Pass Liquefaction Senior Notes and the 2023 Sabine Pass Liquefaction Senior Notes are governed by a common indenture (the "Indenture"). The Indenture contains customary terms and events of default and certain covenants that, among other things, limit Sabine Pass Liquefaction's ability and the ability of Sabine Pass Liquefaction's restricted subsidiaries to incur additional indebtedness or issue preferred stock, make certain investments or pay dividends or distributions on capital stock or subordinated indebtedness or purchase, redeem or retire capital stock, sell or transfer assets, including capital stock of Sabine Pass Liquefaction's restricted subsidiaries, restrict dividends or other payments by restricted subsidiaries, incur liens, enter into transactions with affiliates, consolidate, merge, sell or lease all or substantially all of Sabine Pass Liquefaction's assets and enter into certain LNG sales contracts. Subject to permitted liens, the Sabine Pass Liquefaction Senior Notes are secured on a pari passu first-priority basis by a security interest in all of the membership interests in Sabine Pass Liquefaction and substantially all of Sabine Pass Liquefaction's assets. Sabine Pass Liquefaction may not make any distributions until, among other requirements, substantial completion of Train 1 and Train 2 has occurred, deposits are made into debt service reserve accounts and a debt service coverage ratio for the prior 12-month period and a projected debt service coverage ratio for the upcoming 12-month period of 1.25:1.00 are satisfied. | |||||||||
At any time prior to November 1, 2020, with respect to the 2021 Sabine Pass Liquefaction Senior Notes, or January 15, 2023, with respect to the 2023 Sabine Pass Liquefaction Senior Notes, Sabine Pass Liquefaction may redeem all or a part of the Sabine Pass Liquefaction Senior Notes, at a redemption price equal to the "make-whole" price set forth in the Indenture, plus accrued and unpaid interest, if any, to the date of redemption. Sabine Pass Liquefaction also may at any time on or after November 1, 2020, with respect to the 2021 Sabine Pass Liquefaction Senior Notes, or January 15, 2023, with respect to the 2023 Sabine Pass Liquefaction Senior Notes, redeem the Sabine Pass Liquefaction Senior Notes, in whole or in part, at a redemption price equal to 100% of the principal amount of the Sabine Pass Liquefaction Senior Notes to be redeemed, plus accrued and unpaid interest, if any, to the date of redemption. | |||||||||
In connection with the issuances of the Sabine Pass Liquefaction Senior Notes, Sabine Pass Liquefaction also entered into registration rights agreements (the "Liquefaction Registration Rights Agreements"). Under the Liquefaction Registration Rights Agreements, Sabine Pass Liquefaction has agreed to use commercially reasonable efforts to file with the SEC and cause to become effective registration statements relating to an offer to exchange the Sabine Pass Liquefaction Senior Notes for a like aggregate principal amount of SEC-registered notes with terms identical in all material respects to the 2021 Sabine Pass Liquefaction Senior Notes and 2023 Sabine Pass Liquefaction Senior Notes (other than with respect to restrictions on transfer or to any increase in annual interest rate) within 360 days after February 1, 2013 for $1.5 billion of the 2021 Sabine Pass Liquefaction Senior Notes and within 295 days after April 16, 2013 for $500.0 million of the 2021 Sabine Pass Liquefaction Senior Notes and all of the 2023 Sabine Pass Liquefaction Senior Notes. Under specified circumstances, Sabine Pass Liquefaction may be required to file a shelf registration statement to cover resales of the Sabine Pass Liquefaction Senior Notes. If Sabine Pass Liquefaction fails to satisfy these obligations, Sabine Pass Liquefaction may be required to pay additional interest to holders of the Sabine Pass Liquefaction Senior Notes under certain circumstances. | |||||||||
2013 Liquefaction Credit Facilities | |||||||||
In May 2013, Sabine Pass Liquefaction closed the 2013 Liquefaction Credit Facilities aggregating $5.9 billion. The 2013 Liquefaction Credit Facilities are being used to fund a portion of the costs of developing, constructing and placing into operation the first four LNG Trains of the Liquefaction Project. The 2013 Liquefaction Credit Facilities will mature on the earlier of May 28, 2020 or the second anniversary of the completion date of the first four LNG Trains of the Liquefaction Project, as defined in the 2013 Liquefaction Credit Facilities. Borrowings under the 2013 Liquefaction Credit Facilities may be refinanced, in whole or in part, at any time without premium or penalty, except for interest rate hedging and interest rate breakage costs. Sabine Pass Liquefaction made a $100.0 million borrowing under the 2013 Liquefaction Credit Facilities in June 2013 after meeting the required conditions precedent. | |||||||||
Borrowings under the 2013 Liquefaction Credit Facilities bear interest at a variable rate per annum equal to, at Sabine Pass Liquefaction's election, the London Interbank Offered Rate ("LIBOR") or the base rate, plus the applicable margin. The applicable margins for LIBOR loans prior to, and after, the completion of Train 4 range from 2.3% to 3.0% and 2.3% to 3.25%, respectively, depending on the applicable 2013 Liquefaction Credit Facility. Interest on LIBOR loans is due and payable at the end of each LIBOR period. The 2013 Liquefaction Credit Facilities required Sabine Pass Liquefaction to pay certain up-front fees to the agents and lenders in the aggregate amount of approximately $144.0 million and provide for a commitment fee calculated at a rate per annum equal to 40% of the applicable margin for LIBOR loans, multiplied by the average daily amount of the undrawn commitment. Annual administrative fees must also be paid to the agent and the trustee. The principal of loans made under the 2013 Liquefaction Credit Facilities must be repaid in quarterly installments, commencing upon the earlier of the last day of the first calendar quarter ending at least three months following the completion of Train 4 of the Liquefaction Project and September 30, 2018. Scheduled repayments are based upon an 18-year amortization profile, with the remaining balance due upon the maturity of the 2013 Liquefaction Credit Facilities. | |||||||||
Under the terms and conditions of the 2013 Liquefaction Credit Facilities, all cash held by Sabine Pass Liquefaction is controlled by a collateral agent. These funds can only be released by the collateral agent upon satisfaction of certain terms and conditions related to the use of proceeds, and are classified as restricted on our Consolidated Balance Sheets. | |||||||||
The 2013 Liquefaction Credit Facilities contain conditions precedent for the second borrowing and any subsequent borrowings, as well as customary affirmative and negative covenants. The obligations of Sabine Pass Liquefaction under the 2013 Liquefaction Credit Facilities are secured by substantially all of the assets of Sabine Pass Liquefaction as well as all of the membership interests in Sabine Pass Liquefaction on a pari passu basis with the Sabine Pass Liquefaction Senior Notes. | |||||||||
Under the terms of the 2013 Liquefaction Credit Facilities, Sabine Pass Liquefaction is required to hedge not less than 75% of the variable interest rate exposure of its projected outstanding borrowings, calculated on a weighted average basis in comparison to its anticipated draw of principal. See Note 9— "Financial Instruments". | |||||||||
2012 Liquefaction Credit Facility | |||||||||
In July 2012, Sabine Pass Liquefaction entered into the $3.6 billion 2012 Liquefaction Credit Facility with a syndicate of lenders. The 2012 Liquefaction Credit Facility was intended to be used to fund a portion of the costs of developing, constructing and placing into operation Train 1 and Train 2 of the Liquefaction Project. In May 2013, the 2012 Liquefaction Credit Facility was amended and restated with the 2013 Liquefaction Credit Facilities and $100.0 million of outstanding borrowings under the 2012 Liquefaction Credit Facility were repaid in full. | |||||||||
The 2012 Liquefaction Credit Facility had a maturity date of the earlier of July 31, 2019 or the second anniversary of the completion date of Train 1 and Train 2 of the Liquefaction Project, as defined in the 2012 Liquefaction Credit Facility. Borrowings under the 2012 Liquefaction Credit Facility could have been refinanced, in whole or in part, at any time without premium or penalty, except for interest rate hedging and interest rate breakage costs. Sabine Pass Liquefaction made a $100.0 million borrowing under the 2012 Liquefaction Credit Facility in August 2012 after meeting the required conditions precedent. | |||||||||
Borrowings under the 2012 Liquefaction Credit Facility bore interest at a variable rate equal to, at Sabine Pass Liquefaction's election, LIBOR or the base rate, plus the applicable margin. The applicable margin for LIBOR loans was 3.50% during construction and 3.75% during operations. Interest on LIBOR loans was due and payable at the end of each LIBOR period. The 2012 Liquefaction Credit Facility required Sabine Pass Liquefaction to pay certain up-front fees to the agents and lenders in the aggregate amount of approximately $178 million and provided for a commitment fee calculated at a rate per annum equal to 40% of the applicable margin for LIBOR loans, multiplied by the average daily amount of the undrawn commitment. Annual administrative fees were also required to be paid to the agent and the trustee. The principal of loans made under the 2012 Liquefaction Credit Facility had to be repaid in quarterly installments, commencing with the last day of the first calendar quarter ending at least three months following the completion of Train 1 and Train 2 of the Liquefaction Project. Scheduled repayments were based upon an 18-year amortization profile, with the remaining balance due upon the maturity of the 2012 Liquefaction Credit Facility. | |||||||||
Under the terms and conditions of the 2012 Liquefaction Credit Facility, all cash held by Sabine Pass Liquefaction was controlled by the collateral agent. These funds could only be released by the collateral agent upon satisfaction of certain terms and conditions related to the use of proceeds, and the cash balance of $100.0 million held in these accounts as of December 31, 2012 was classified as restricted on our Consolidated Balance Sheets. | |||||||||
The 2012 Liquefaction Credit Facility contained conditions precedent for the second borrowing and any subsequent borrowings, as well as customary affirmative and negative covenants. The obligations of Sabine Pass Liquefaction under the 2012 Liquefaction Credit Facility were secured by substantially all of the assets of Sabine Pass Liquefaction as well as all of the membership interests in Sabine Pass Liquefaction, and a security interest in Cheniere Partners' rights under its Unit Purchase Agreement with Blackstone CQP Holdco LP dated May 14, 2012 on a pari passu basis with the Sabine Pass Liquefaction Senior Notes. | |||||||||
Under the terms of the 2012 Liquefaction Credit Facility, Sabine Pass Liquefaction was required to hedge not less than 75% of the variable interest rate exposure of its projected outstanding borrowings, calculated on a weighted average basis in comparison to its anticipated draw of principal. See Note 9—"Financial Instruments". | |||||||||
In February 2013, Sabine Pass Liquefaction issued the 2021 Sabine Pass Liquefaction Senior Notes to refinance a portion of the 2012 Liquefaction Credit Facility, and a portion of available commitments pursuant to the 2012 Liquefaction Credit Facility was suspended. In April 2013, Sabine Pass Liquefaction issued an aggregate principal amount of $500.0 million of additional 2021 Sabine Pass Liquefaction Senior Notes and $1.0 billion of 2023 Sabine Pass Liquefaction Senior Notes, and as a result, approximately $1.4 billion of commitments under the 2012 Liquefaction Credit Facility were terminated. The termination of these commitments in April 2013 and the amendment and restatement of the 2012 Liquefaction Credit Facility with the 2013 Liquefaction Credit Facilities in May 2013 resulted in a write-off of debt issuance costs associated with the 2012 Liquefaction Credit Facility of zero and $80.5 million in the three and nine months ended September 30, 2013, respectively. | |||||||||
CTPL Credit Facility | |||||||||
In May 2013, CTPL entered into the CTPL Credit Facility, which will be used to fund modifications to the Creole Trail Pipeline and for general business purposes. CTPL incurred $10.0 million of direct lender fees that were recorded as a debt discount. The CTPL Credit Facility matures in 2017 when the full amount of the outstanding principal obligations must be repaid. CTPL's loans may be repaid, in whole or in part, at any time without premium or penalty. As of September 30, 2013, CTPL had borrowed the full amount of $400.0 million available under the CTPL Credit Facility. | |||||||||
Borrowings under the CTPL Credit Facility bear interest at a variable rate per annum equal to, at CTPL's election, LIBOR or the base rate, plus the applicable margin. The applicable margin for LIBOR loans is 3.25%. Interest on LIBOR loans is due and payable at the end of each LIBOR period. | |||||||||
Under the terms and conditions of the CTPL Credit Facility, all cash reserved to pay interest during construction is controlled by a collateral agent. These funds can only be released by the collateral agent upon satisfaction of certain terms and conditions, and are classified as restricted on our Consolidated Balance Sheets. CTPL is also required to pay annual fees to the administrative and collateral agents. | |||||||||
The CTPL Credit Facility contains customary affirmative and negative covenants. The obligations of CTPL under the CTPL Credit Facility are secured by a first priority lien on substantially all of the personal property of CTPL and all of the general partner and limited partner interests in CTPL. | |||||||||
Cheniere Partners has guaranteed (i) the obligations of CTPL under the CTPL Credit Facility if the maturity of the CTPL loans is accelerated following the termination by Sabine Pass Liquefaction of a transportation precedent agreement in limited circumstances and (ii) the obligations of Cheniere Energy Investments, LLC ("Cheniere Investments"), Cheniere Partners' wholly owned subsidiary, in connection with its obligations under an equity contribution agreement (a) to pay operating expenses of CTPL until CTPL receives revenues under a service agreement with Sabine Pass Liquefaction and (b) to fund interest payments on the CTPL loans after the funds in an interest reserve account have been exhausted. |
Financial_Instruments
Financial Instruments | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||
Financial Instruments [Abstract] | ' | |||||||||||||||||||||||||||||||
Financial Instruments | ' | |||||||||||||||||||||||||||||||
FINANCIAL INSTRUMENTS | ||||||||||||||||||||||||||||||||
Derivative Instruments | ||||||||||||||||||||||||||||||||
We have entered into certain instruments to hedge the exposure to variability in expected future cash flows attributable to the future sale of our LNG inventory ("LNG Inventory Derivatives") and to hedge the exposure to price risk attributable to future purchases of natural gas to be utilized as fuel to operate the Sabine Pass LNG terminal ("Fuel Derivatives"), and interest rate swaps to hedge the exposure to volatility in a portion of the floating-rate interest payments under the 2013 Liquefaction Credit Facilities ("Interest Rate Derivatives"). | ||||||||||||||||||||||||||||||||
The following table (in thousands) shows the fair value of our derivative assets and liabilities that are required to be measured at fair value on a recurring basis as of September 30, 2013 and December 31, 2012, which are classified as other current assets, other current liabilities and other non-current liabilities in our Consolidated Balance Sheets. | ||||||||||||||||||||||||||||||||
Fair Value Measurements as of | ||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||
Quoted Prices in Active Markets | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | Quoted Prices in Active Markets | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||||||||||||||||||||||
(Level 1) | (Level 1) | |||||||||||||||||||||||||||||||
LNG Inventory Derivatives asset | $ | — | $ | 186 | $ | — | $ | 186 | $ | — | $ | 237 | $ | — | $ | 237 | ||||||||||||||||
Fuel Derivatives (liability) | — | (283 | ) | — | (283 | ) | — | (98 | ) | — | (98 | ) | ||||||||||||||||||||
Interest Rate Derivatives asset (liability) | — | 56,039 | — | 56,039 | — | (26,424 | ) | — | (26,424 | ) | ||||||||||||||||||||||
The estimated fair values of our LNG Inventory Derivatives and Fuel Derivatives are the amount 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. 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 derivative instruments that qualify for derivative accounting treatment as either assets or liabilities and measure those instruments at fair value. For those instruments accounted for as derivatives, including our LNG Inventory Derivatives and certain of our Fuel Derivatives, changes in fair value are reported in earnings. | ||||||||||||||||||||||||||||||||
The use of derivative instruments exposes us to counterparty credit risk, or the risk that a counterparty will be unable to meet its commitments in instances where our Fuel Derivatives or our LNG Inventory Derivatives are in an asset position. Our commodity derivative transactions are executed through over-the-counter contracts which are subject to nominal credit risk as these transactions are settled on a daily margin basis with investment grade financial institutions. We are required by these financial institutions to use margin deposits as credit support for our commodity derivative activities. Collateral of $6.1 million and $5.9 million deposited for such contracts, which has not been reflected in the derivative fair value tables, is included in the other current assets balance as of September 30, 2013, and December 31, 2012, respectively. | ||||||||||||||||||||||||||||||||
The following table (in thousands) shows the fair value and location of our LNG Inventory Derivatives and Fuel Derivatives on our Consolidated Balance Sheets: | ||||||||||||||||||||||||||||||||
Fair Value Measurements as of | ||||||||||||||||||||||||||||||||
Balance Sheet Location | September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||
LNG Inventory Derivatives asset | Prepaid expenses and other | $ | 186 | $ | 237 | |||||||||||||||||||||||||||
Fuel Derivatives (liability) | Prepaid expenses and other | (283 | ) | (98 | ) | |||||||||||||||||||||||||||
The following table (in thousands) shows the changes in the fair value and settlements of our LNG Inventory Derivatives and Fuel Derivatives recorded in marketing and trading revenues (losses) on our Consolidated Statements of Operations during the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||
LNG Inventory Derivatives gain (loss) | $ | 14 | $ | (265 | ) | $ | (394 | ) | $ | 599 | ||||||||||||||||||||||
Fuel Derivatives loss | (57 | ) | — | (57 | ) | — | ||||||||||||||||||||||||||
The following table (in thousands) shows the changes in the fair value and settlements of our LNG Inventory Derivatives and Fuel Derivatives recorded in derivative gain (loss), net on our Consolidated Statements of Operations during the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||
LNG Inventory Derivatives gain | $ | 201 | $ | — | $ | 976 | $ | — | ||||||||||||||||||||||||
Fuel Derivatives gain (loss) | (55 | ) | 287 | (3 | ) | (288 | ) | |||||||||||||||||||||||||
Interest Rate Derivatives | ||||||||||||||||||||||||||||||||
In August 2012 and June 2013, Sabine Pass Liquefaction entered into Interest Rate Derivatives to protect against volatility of future cash flows and hedge a portion of the variable interest payments on the 2012 Liquefaction Credit Facility and the 2013 Liquefaction Credit Facilities, respectively. The Interest Rate Derivatives hedge a portion of the expected outstanding borrowings over the term of the 2013 Liquefaction Credit Facilities. | ||||||||||||||||||||||||||||||||
Sabine Pass Liquefaction designated the Interest Rate Derivatives entered into in August 2012 as hedging instruments which was required in order to qualify for cash flow hedge accounting. As a result of this cash flow hedge designation, we recognized the Interest Rate Derivatives entered into in August 2012 as an asset or liability at fair value, and reflected changes in fair value through other comprehensive income in our Consolidated Statements of Comprehensive Loss. Any hedge ineffectiveness associated with the Interest Rate Derivatives entered into in August 2012 was recorded immediately as derivative gain (loss) in our Consolidated Statements of Operations. The realized gain (loss) on the Interest Rate Derivatives entered into in August 2012 was recorded as an (increase) decrease in interest expense on our Consolidated Statements of Operations to the extent not capitalized as part of the Liquefaction Project. The effective portion of the gains or losses on our Interest Rate Derivatives entered into in August 2012 recorded in other comprehensive income would have been reclassified to earnings as interest payments on the 2012 Liquefaction Credit Facility impact earnings. In addition, amounts recorded in other comprehensive income are also reclassified into earnings if it becomes probable that the hedged forecasted transaction will not occur. | ||||||||||||||||||||||||||||||||
Sabine Pass Liquefaction did not elect to designate the Interest Rate Derivatives entered into in June 2013 as cash flow hedging instruments, and changes in fair value are recorded as derivative gain (loss), net within the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||
During the first quarter of 2013, we determined that it was no longer probable that the forecasted variable interest payments on the 2012 Liquefaction Credit Facility would occur in the time period originally specified based on the continued development of our financing strategy for the Liquefaction Project, and, in particular, the Sabine Pass Liquefaction Senior Notes described in Note 8—"Long-Term Debt". As a result, all of the Interest Rate Derivatives entered into in August 2012 were no longer effective hedges, and the remaining portion of hedge relationships that were designated cash flow hedges as of December 31, 2012, were de-designated as of February 1, 2013. For de-designated cash flow hedges, changes in fair value prior to their de-designation date were recorded as other comprehensive income (loss) within the Consolidated Balance Sheets, and changes in fair value subsequent to their de-designation date were recorded as derivative gain (loss) within the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||
In June 2013, we concluded that the hedged forecasted transactions associated with the Interest Rate Derivatives entered into in connection with the 2012 Liquefaction Credit Facility had become probable of not occurring based on the issuances of the Sabine Pass Liquefaction Senior Notes, the closing of the 2013 Liquefaction Credit Facilities, the additional Interest Rate Derivatives executed in June 2013, and our intention to continue to issue fixed rate debt to refinance drawn portions of the 2013 Liquefaction Credit Facilities. As a result, the amount remaining in accumulated other comprehensive income ("AOCI") pertaining to the previously designated Interest Rate Derivatives was reclassified out of AOCI and into income. We have presented the reclassification of unrealized losses from AOCI into income and the changes in fair value and settlements subsequent to the reclassification date separate from interest expense as derivative gain (loss), net in our Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||
At September 30, 2013, Sabine Pass Liquefaction 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 - Not Designated | $20.0 million | $2.9 billion | 14-Aug-12 | 31-Jul-19 | 1.98% | One-month LIBOR | ||||||||||||||||||||||||||
Interest Rate Derivatives - Not Designated | — | $671.0 million | 5-Jun-13 | 28-May-20 | 2.05% | 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 | September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||
Interest Rate Derivatives - Not Designated | Non-current derivative assets | $ | 64,309 | $ | — | |||||||||||||||||||||||||||
Interest Rate Derivatives - Designated | Non-current derivative liabilities | — | 21,290 | |||||||||||||||||||||||||||||
Interest Rate Derivatives - Not Designated | Other current liabilities | 8,270 | — | |||||||||||||||||||||||||||||
Interest Rate Derivatives - Not Designated | Non-current derivative liabilities | — | 5,134 | |||||||||||||||||||||||||||||
The following table (in thousands) details the effect of our Interest Rate Derivatives included in OCI and AOCI for the three months ended September 30, 2013 and 2012: | ||||||||||||||||||||||||||||||||
Gain (Loss) in Other Comprehensive Income | Gain (Loss) Reclassified from AOCI into Interest Expense (Effective Portion) | Losses Reclassified into Earnings as a Result of Discontinuance of Cash Flow Hedge Accounting | ||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||
Interest Rate Derivatives - Designated | $ | — | $ | (29,676 | ) | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||
The following table (in thousands) details the effect of our Interest Rate Derivatives included in OCI and AOCI for the nine months ended September 30, 2013 and 2012: | ||||||||||||||||||||||||||||||||
Gain (Loss) in Other Comprehensive Income | Gain (Loss) Reclassified from AOCI into Interest Expense (Effective Portion) | Losses Reclassified into Earnings as a Result of Discontinuance of Cash Flow Hedge Accounting | ||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||
Interest Rate Derivatives - Designated | $ | 21,297 | $ | (29,676 | ) | $ | — | $ | — | $ | (5,806 | ) | $ | — | ||||||||||||||||||
Interest Rate Derivatives - Settlements | (30 | ) | — | — | — | (167 | ) | — | ||||||||||||||||||||||||
The following table (in thousands) shows the changes in the fair value of our Interest Rate Derivatives - Not Designated recorded in derivative gain (loss), net on our Consolidated Statements of Operations during the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||
Interest Rate Derivatives - Not Designated gain (loss) | $ | (22,481 | ) | $ | — | $ | 60,707 | $ | — | |||||||||||||||||||||||
Balance Sheet Presentation | ||||||||||||||||||||||||||||||||
Our commodity and interest rate derivatives are presented on a net basis on our Consolidated 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 Consolidated Balance Sheet | Net Amounts Presented in the Consolidated Balance Sheet | Gross Amounts Not Offset in the Consolidated Balance Sheet | |||||||||||||||||||||||||||||
Offsetting Derivative Assets (Liabilities) | Derivative Instrument | Cash Collateral Received (Paid) | Net Amount | |||||||||||||||||||||||||||||
As of September 30, 2013: | ||||||||||||||||||||||||||||||||
Fuel Derivatives | $ | (283 | ) | $ | (283 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
LNG Inventory Derivatives | 186 | 186 | — | — | 186 | |||||||||||||||||||||||||||
Interest Rate Derivatives - Not Designated | 64,309 | — | 64,309 | — | — | 64,309 | ||||||||||||||||||||||||||
Interest Rate Derivatives - Not Designated | (8,270 | ) | — | (8,270 | ) | — | — | (8,270 | ) | |||||||||||||||||||||||
As of December 31, 2012: | ||||||||||||||||||||||||||||||||
Fuel Derivatives | (98 | ) | (98 | ) | — | — | — | — | ||||||||||||||||||||||||
LNG Inventory Derivatives | 237 | — | 237 | — | — | 237 | ||||||||||||||||||||||||||
Interest Rate Derivatives - Designated | (21,290 | ) | — | (21,290 | ) | — | — | (21,290 | ) | |||||||||||||||||||||||
Interest Rate Derivatives - Not Designated | (5,134 | ) | — | (5,134 | ) | — | — | (5,134 | ) | |||||||||||||||||||||||
Other Financial Instruments | ||||||||||||||||||||||||||||||||
The estimated fair value of our other financial instruments, including those financial instruments for which the fair value option was not elected, are set forth in the table below. The carrying amounts reported on our Consolidated Balance Sheets for cash and cash equivalents, restricted cash and cash equivalents, accounts receivable, interest receivable and accounts payable approximate fair value due to their short-term nature. | ||||||||||||||||||||||||||||||||
Other Financial Instruments (in thousands): | ||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||
Carrying | Estimated | Carrying | Estimated | |||||||||||||||||||||||||||||
Amount | Fair Value | Amount | Fair Value | |||||||||||||||||||||||||||||
2016 Notes, net of discount (1) | $ | 1,650,634 | $ | 1,811,570 | $ | 1,647,113 | $ | 1,824,177 | ||||||||||||||||||||||||
2020 Notes (1) | 420,000 | 425,250 | 420,000 | 437,850 | ||||||||||||||||||||||||||||
2021 Sabine Pass Liquefaction Senior Notes (1) | 2,011,897 | 1,951,540 | — | — | ||||||||||||||||||||||||||||
2023 Sabine Pass Liquefaction Senior Notes (1) | 1,000,000 | 952,500 | — | — | ||||||||||||||||||||||||||||
2012 Liquefaction Credit Facility (2) | — | — | 100,000 | 100,000 | ||||||||||||||||||||||||||||
2013 Liquefaction Credit Facilities (2) | 100,000 | 100,000 | — | — | ||||||||||||||||||||||||||||
CTPL Credit Facility (3) | 391,665 | 400,000 | — | — | ||||||||||||||||||||||||||||
-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 September 30, 2013 and December 31, 2012, as applicable. | |||||||||||||||||||||||||||||||
-2 | The Level 3 estimated fair value approximates the carrying amount because the interest rates are variable and reflective of market rates and Sabine Pass Liquefaction has the ability to call this debt at anytime without penalty. | |||||||||||||||||||||||||||||||
-3 | The Level 3 estimated fair value approximates the principal amount because the interest rates are variable and reflective of market rates and CTPL has the ability to call this debt at anytime without penalty. |
Income_Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
INCOME TAXES | |
We are not presently a taxpayer for federal or state income tax purposes and have not recorded a net liability for federal or state income taxes in any of the periods included in the accompanying financial statements. However, we are presently an international taxpayer and have recorded a net expense of $1.8 million and $0.1 million for international income taxes for the three months ended September 30, 2013 and 2012, respectively. We recorded a net expense of $2.8 million and $0.2 million for international income taxes for the nine months ended September 30, 2013 and 2012, respectively. | |
We experienced an ownership change within the provisions of Internal Revenue Code ("IRC") Section 382 in 2008, 2010 and 2012. An analysis of the annual limitation on the utilization of our net operating losses ("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. We will continue to monitor trading activity in our shares which may cause an additional ownership change which could ultimately affect our ability to fully utilize our existing tax NOL carryforwards. |
Net_Loss_Per_Share_Attributabl
Net Loss Per Share Attributable to Common Stockholders (Notes) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Net Loss per Share Attributable to Common Stockholders | ' | |||||||||||||||
NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS | ||||||||||||||||
Basic net loss per share attributable to common stockholders ("EPS") excludes dilution and is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS reflects potential dilution and is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding during the period increased by the number of additional common shares that would have been outstanding if the potential common shares had been issued. | ||||||||||||||||
The following table reconciles basic and diluted weighted average common shares outstanding for the three and nine months ended September 30, 2013 and 2012 (in thousands except for loss per share): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Weighted average common shares outstanding: | ||||||||||||||||
Basic | 220,734 | 208,712 | 217,940 | 170,414 | ||||||||||||
Dilutive common stock options (1) | — | — | — | — | ||||||||||||
Diluted | 220,734 | 208,712 | 217,940 | 170,414 | ||||||||||||
Basic and diluted net loss per share attributable to common stockholders | $ | (0.46 | ) | $ | (0.52 | ) | $ | (1.71 | ) | $ | (1.40 | ) | ||||
-1 | Stock options and unvested stock of 18.3 million shares and 16.5 million shares representing securities that could potentially dilute basic EPS in the future were not included in the diluted net loss per share computations for the three and nine months ended September 30, 2013, respectively, because they would have been anti-dilutive. Stock options and unvested stock of 5.6 million shares and 3.1 million shares representing securities that could potentially dilute basic EPS in the future were not included in the diluted net loss per share computations for the three and nine months ended September 30, 2012, respectively, because they would have been anti-dilutive. |
ShareBased_Compensation
Share-Based Compensation | 9 Months Ended | |
Sep. 30, 2013 | ||
Share-based Compensation [Abstract] | ' | |
Share-based Compensation | ' | |
SHARE-BASED COMPENSATION | ||
We have granted options to purchase common stock to employees, consultants and outside directors under the Cheniere Energy, Inc. Amended and Restated 1997 Stock Option Plan (the "1997 Plan"), Amended and Restated 2003 Stock Incentive Plan, as amended (the "2003 Plan"), and 2011 Incentive Plan, as amended (the "2011 Plan"). We recognize our share-based payments to employees in the consolidated financial statements based on their fair values at the date of grant. The calculated fair value is recognized as expense (net of any capitalization) over the requisite service period, net of estimated forfeitures, using the straight-line or accelerated recognition methods. | ||
For the three months ended September 30, 2013 and 2012, the total share-based compensation expense recognized in our net loss (net of capitalization) was $26.7 million and $49.8 million, respectively. For the nine months ended September 30, 2013 and 2012, the total share-based compensation expense recognized in our net loss (net of capitalization) was $202.8 million and $54.0 million, respectively. For the three months ended September 30, 2013 and 2012, the total share-based compensation cost capitalized as part of the cost of capital assets was $1.3 million and $2.2 million, respectively. For the nine months ended September 30, 2013 and 2012, the total share-based compensation cost capitalized as part of the cost of capital assets was $8.6 million and $2.2 million, respectively. | ||
The total unrecognized compensation cost at September 30, 2013 relating to non-vested share-based compensation arrangements granted under the 1997 Plan, 2003 Plan and 2011 Plan was $283.7 million. That cost is expected to be recognized over 5.5 years, with a weighted average period of 3.4 years. | ||
We received $0.3 million of proceeds from the exercise of stock options in the three and nine months ended September 30, 2013 and $0.8 million of proceeds from the exercise of stock options in the three and nine months ended September 30, 2012. | ||
Long-Term Commercial Bonus Awards for Train 3 and Train 4 under the 2011-2013 Bonus Plan | ||
On December 12, 2012, pursuant to the 2011-2013 Bonus Plan, the Compensation Committee approved a Long-Term Bonus Pool for 2012 for all employees of the Company consisting of a total of 18 million shares of restricted stock. The Long-Term Commercial Bonus Awards for Train 3 and Train 4 of the Liquefaction Project were granted to employees in February 2013 under the 2003 Plan and 2011 Plan. A portion of each employee's Long-Term Commercial Bonus Award for Train 3 and Train 4 of the Liquefaction Project was granted as a milestone award ("Milestone Award"), with vesting of the Milestone Award conditional on certain performance milestones relating to financing and constructing Train 3 and Train 4 of the Liquefaction Project, and a portion was granted as a stock price award ("Stock Price Award"), with vesting of the Stock Price Award conditional on the achievement of minimum average Company stock price hurdles. | ||
On May 22, 2013, the $25 stock price hurdle was achieved. Following certification by a subcommittee of the compensation committee, fifty percent (50%) of the Stock Price Awards vested. The remaining Stock Price Awards will vest if the average 120-day closing stock price of the Company is $35. | ||
On May 28, 2013, the first performance milestone was achieved when Sabine Pass Liquefaction closed the financing, and issued notice to proceed with construction under the engineering, procurement and construction contract for the construction of Train 3 and Train 4 of the Liquefaction Project (the "EPC Contract (Train 3 and Train 4)"). Following certification of the achievement of the performance milestone by a subcommittee of the compensation committee, thirty percent (30%) of the Milestone Awards vested. The remaining Milestone Awards will vest based on the achievement of the following performance milestones: | ||
• | 20% upon payment of 60% of the original contract price of the EPC Contract (Train 3 and Train 4); | |
• | 20% upon substantial completion, as defined in the EPC Contract (Train 3 and Train 4), of Train 4 of the Liquefaction Project; and | |
• | 30% on the first anniversary of substantial completion of Train 4 of the Liquefaction Project. |
Business_Segment_Information
Business Segment Information | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Business Segment Information | ' | ||||||||||||||||
BUSINESS SEGMENT INFORMATION | |||||||||||||||||
We have two operating business segments: LNG terminal business and LNG and natural gas marketing business. We determine our reporting units by identifying each unit that engaged in business activities from which it may earn revenues and incur expenses, had operating results regularly reviewed by the entities' chief operating decision makers for purposes of resource allocation and performance assessment, and had discrete financial information. | |||||||||||||||||
Our LNG terminal business segment consists of the operational Sabine Pass LNG terminal, approximately 57.9% owned (at September 30, 2013), located on the Sabine Pass deep water shipping channel less than four miles from the Gulf Coast, and two other LNG terminals that are in various stages of development at the following locations: Corpus Christi LNG, 100% owned, near Corpus Christi, Texas; and Creole Trail LNG, 100% owned, at the mouth of the Calcasieu Channel in central Cameron Parish, Louisiana. The Sabine Pass LNG terminal includes existing infrastructure of five LNG storage tanks with capacity of approximately 16.9 Bcfe, two docks that can accommodate vessels with capacity of up to 265,000 cubic meters and vaporizers with regasification capacity of approximately 4.0 Bcf/d, and pipeline facilities interconnecting the Sabine Pass LNG terminal with a number of large interstate pipelines. Cheniere Partners is currently developing the Liquefaction Project at the Sabine Pass LNG terminal adjacent to the existing regasification facilities. During the fourth quarter of 2012, we merged our natural gas pipeline business segment into our LNG terminal business segment because we were no longer developing or making resource allocation decisions on other pipeline projects not primarily related to our LNG terminals. We have adjusted the corresponding items of segment information for 2012 to reflect this change. | |||||||||||||||||
Our LNG and natural gas marketing business segment consists of Cheniere Marketing marketing LNG and natural gas on its own behalf and on behalf of Cheniere Partners in an effort to utilize the receiving capacity held at the Sabine Pass LNG terminal during construction of the Liquefaction Project. | |||||||||||||||||
The following table summarizes revenues, net income (loss) from operations and total assets for each of our operating segments (in thousands): | |||||||||||||||||
Segments | |||||||||||||||||
LNG Terminal | LNG & Natural Gas Marketing | Corporate and Other (1) | Total | ||||||||||||||
Consolidation | |||||||||||||||||
As of or for the Three Months Ended September 30, 2013 | |||||||||||||||||
Revenues (2) | $ | 67,558 | $ | 16,470 | $ | (16,318 | ) | $ | 67,710 | ||||||||
Intersegment revenues (losses) (3) (4) | 820 | 15,880 | (16,700 | ) | — | ||||||||||||
Depreciation, depletion and amortization | 14,581 | 251 | 414 | 15,246 | |||||||||||||
Non-cash compensation | 3,148 | 4,594 | 20,197 | 27,939 | |||||||||||||
Income (loss) from operations | (49,600 | ) | 2,919 | 805 | (45,876 | ) | |||||||||||
Interest expense, net | (55,378 | ) | — | 2,850 | (52,528 | ) | |||||||||||
Income (loss) before income taxes and non-controlling interest | (127,202 | ) | 2,515 | 4,013 | (120,674 | ) | |||||||||||
Goodwill | 76,819 | — | — | 76,819 | |||||||||||||
Total assets | 7,719,551 | 63,756 | 342,546 | 8,125,853 | |||||||||||||
Expenditures for additions to long-lived assets | 852,847 | 61 | 389 | 853,297 | |||||||||||||
As of or for the Three Months Ended September 30, 2012 | |||||||||||||||||
Revenues (2) | $ | 69,868 | $ | 2,661 | — | $ | (6,531 | ) | $ | 65,998 | |||||||
Intersegment revenues (losses) (3) (4) | 3,929 | 2,953 | (6,882 | ) | — | ||||||||||||
Depreciation, depletion and amortization | 14,566 | 256 | 411 | 15,233 | |||||||||||||
Non-cash compensation | 6,505 | 9,256 | 36,104 | 51,865 | |||||||||||||
Loss from operations | (16,446 | ) | (16,462 | ) | (21,609 | ) | (54,517 | ) | |||||||||
Interest expense, net | (55,333 | ) | 12 | 9,817 | (45,504 | ) | |||||||||||
Income (loss) before income taxes and non-controlling interest | (71,335 | ) | 418,655 | (459,135 | ) | (111,815 | ) | ||||||||||
Goodwill | 76,819 | — | — | 76,819 | |||||||||||||
Total assets | 4,136,574 | 42,308 | 204,843 | 4,383,725 | |||||||||||||
Expenditures for additions to long-lived assets | 883,798 | (6 | ) | 696 | 884,488 | ||||||||||||
For the Nine Months Ended September 30, 2013 | |||||||||||||||||
Revenues (2) | $ | 201,408 | $ | 27,627 | $ | (28,242 | ) | $ | 200,793 | ||||||||
Intersegment revenues (losses) (3) (4) | 2,184 | 27,186 | (29,370 | ) | — | ||||||||||||
Depreciation, depletion and amortization | 43,405 | 751 | 1,377 | 45,533 | |||||||||||||
Non-cash compensation | 22,477 | 36,234 | 152,635 | 211,346 | |||||||||||||
Loss from operations | (103,655 | ) | (39,543 | ) | (106,410 | ) | (249,608 | ) | |||||||||
Interest expense, net | (156,644 | ) | — | 21,838 | (134,806 | ) | |||||||||||
Income (loss) before income taxes and non-controlling interest | 128,441 | (40,092 | ) | (496,613 | ) | (408,264 | ) | ||||||||||
Expenditures for additions to long-lived assets | 2,467,210 | 57 | 1,293 | 2,468,560 | |||||||||||||
For the Nine Months Ended September 30, 2012 | |||||||||||||||||
Revenues (2) | $ | 206,249 | $ | 977 | $ | (8,427 | ) | $ | 198,799 | ||||||||
Intersegment revenues (losses) (3) (4) | 6,973 | 2,618 | (9,591 | ) | — | ||||||||||||
Depreciation, depletion and amortization | 43,810 | 1,815 | 1,376 | 47,001 | |||||||||||||
Non-cash compensation | 6,964 | 10,657 | 38,492 | 56,113 | |||||||||||||
Income (loss) from operations | 7,237 | (31,788 | ) | (35,366 | ) | (59,917 | ) | ||||||||||
Interest expense, net | (165,251 | ) | 12 | 5,520 | (159,719 | ) | |||||||||||
Loss before income taxes and non-controlling interest | (158,016 | ) | 403,369 | (491,875 | ) | (246,522 | ) | ||||||||||
Expenditures for additions to long-lived assets | 931,542 | 1,659 | 1,192 | 934,393 | |||||||||||||
-1 | Includes corporate activities, oil and gas exploration, development and exploitation activities and certain intercompany eliminations. Our oil and gas exploration, development and exploitation operating activities have been included in the corporate and other column due to the lack of a material impact that these activities have on our consolidated financial statements. | ||||||||||||||||
-2 | Substantially all of the LNG terminal revenues relate to regasification capacity reservation fee payments made by Total Gas & Power North America, Inc. and Chevron U.S.A. Inc. LNG and natural gas marketing and trading revenue consists primarily of the domestic marketing of natural gas imported into the Sabine Pass LNG terminal and international revenue allocations using a cost plus transfer pricing methodology. | ||||||||||||||||
-3 | Intersegment revenues related to our LNG terminal business segment are primarily from tug revenues from Cheniere Marketing and the receipt of 80% of gross margins earned by Cheniere Marketing in an effort to utilize the reserved capacity at the Sabine Pass LNG terminal of Cheniere Investments under its terminal use rights assignment and agreement ("TURA") pursuant to which Cheniere Investments has the right to use Sabine Pass Liquefaction's reserved capacity at the Sabine Pass LNG terminal under Sabine Pass Liquefaction's TUA in the three and nine months ended September 30, 2013 and 2012. These LNG terminal business segment intersegment revenues are eliminated with intersegment expenses in our Consolidated Statements of Operations. | ||||||||||||||||
-4 | Intersegment revenues (losses) related to our LNG and natural gas marketing business segment are primarily from Cheniere Marketing's tug costs and the payment of 80% of gross margins earned by Cheniere Marketing in an effort to utilize the reserved capacity at the Sabine Pass LNG terminal of Cheniere Investments under its TURA in the three and nine months ended September 30, 2013 and 2012. These LNG and natural gas marketing business segment intersegment costs are eliminated with intersegment revenues in our Consolidated Statements of Operations. |
Supplemental_Cash_Flow_Informa
Supplemental Cash Flow Information (Notes) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Supplemental Cash Flow Information [Abstract] | ' | ||||||||
Supplemental Cash Flow Information and Disclosure of Non-cash Transactions | ' | ||||||||
SUPPLEMENTAL CASH FLOW INFORMATION AND DISCLOSURES OF NON-CASH TRANSACTIONS | |||||||||
The following table provides supplemental disclosure of cash flow information (in thousands): | |||||||||
Nine Months Ended September 30, | |||||||||
2013 | 2012 | ||||||||
Cash paid during the year for interest, net of amounts capitalized and deferred | $ | 56,428 | $ | 117,190 | |||||
LNG terminal costs funded with accounts payable and accrued liabilities | 80,557 | 52,830 | |||||||
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Schedule of capitalized terminal, natural gas pipeline, LNG site and related costs | ' | |||||||
Property, plant and equipment consists of LNG terminal costs and fixed assets and other, as follows (in thousands): | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
LNG terminal costs | ||||||||
LNG terminal | $ | 2,233,748 | $ | 2,233,595 | ||||
LNG terminal construction-in-process | 3,735,876 | 1,269,798 | ||||||
LNG site and related costs, net | 5,766 | 5,398 | ||||||
Accumulated depreciation | (278,071 | ) | (235,275 | ) | ||||
Total LNG terminal costs, net | 5,697,319 | 3,273,516 | ||||||
Fixed assets and other | ||||||||
Computer and office equipment | 7,808 | 7,014 | ||||||
Furniture and fixtures | 4,167 | 4,057 | ||||||
Computer software | 13,125 | 13,012 | ||||||
Leasehold improvements | 7,226 | 6,989 | ||||||
Other | 7,552 | 6,844 | ||||||
Accumulated depreciation | (31,630 | ) | (29,127 | ) | ||||
Total fixed assets, net | 8,248 | 8,789 | ||||||
Property, plant and equipment, net | $ | 5,705,567 | $ | 3,282,305 | ||||
NonControlling_Interest_Tables
Non-Controlling Interest (Tables) | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Noncontrolling Interest [Abstract] | ' | |||
Schedule of Noncontrolling Interest | ' | |||
The following table sets forth the components of our non-controlling interest balance since inception attributable to third-party investors’ interests at September 30, 2013 (in thousands): | ||||
Net proceeds from Cheniere Partners’ issuance of common units (1) | $ | 719,572 | ||
Net proceeds from CLNGH’s sale of Cheniere Partners common units (2) | 203,946 | |||
Distributions to Cheniere Partners’ non-controlling interest | (207,396 | ) | ||
Net proceeds from Cheniere Partners' issuance of Class B units (3) | 1,387,339 | |||
Non-controlling interest share of loss of Cheniere Partners | (76,325 | ) | ||
Non-controlling interest at September 30, 2013 | $ | 2,027,136 | ||
-1 | In March and April 2007, we and Cheniere Partners completed a public offering of 15.5 million Cheniere Partners common units (the "Cheniere Partners IPO"). Cheniere Partners received $98.4 million in net proceeds from the issuance of its common units to the public. | |||
In January 2011, Cheniere Partners initiated an at-the-market program to sell up to 1.0 million common units, the proceeds from which would be used primarily to fund development costs associated with the Liquefaction Project. As of December 31, 2011, Cheniere Partners had sold 0.5 million common units with net proceeds of $9.0 million. During the year ended December 31, 2012, Cheniere Partners sold 0.5 million common units with net proceeds of $11.1 million. | ||||
In September 2011, Cheniere Partners sold 3.0 million common units in an underwritten public offering and 1.1 million common units to Cheniere Common Units Holding, LLC, a wholly owned subsidiary of Cheniere, at a price of $15.25 per common unit. Cheniere Partners received net proceeds of $43.3 million and $16.4 million from the public offering and Cheniere Common Units Holding, LLC sale, respectively. | ||||
In September 2012, Cheniere Partners sold 8.0 million common units in an underwritten public offering at a price of $25.07 per common unit for net cash proceeds of $194.0 million. | ||||
In March 2013, Cheniere Partners sold 17.6 million common units in a registered direct offering to institutional investors at a price of $20.75 per common unit for net proceeds of $364.8 million. | ||||
-2 | In conjunction with the Cheniere Partners IPO, Cheniere LNG Holdings, LLC ("CLNGH") sold a portion of the Cheniere Partners common units held by it to the public, realizing net proceeds of $203.9 million, which included $39.4 million of net proceeds realized once the underwriters exercised their option to purchase an additional 2.0 million common units from Holdings. | |||
-3 | In May 2012, Cheniere Partners, Cheniere and Blackstone CQP Holdco LP ("Blackstone") entered into a unit purchase agreement (the "Blackstone Unit Purchase Agreement") whereby Cheniere Partners agreed to sell to Blackstone in a private placement 100.0 million Class B units of Cheniere Partners ("Class B units") at a price of $15.00 per Class B unit. Cheniere Partners had issued and sold all 100.0 million Class B units to Blackstone as of December 31, 2012. See Note 5—"Variable Interest Entity". |
Accrued_Liabilities_Tables
Accrued Liabilities (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Accounts Payable and Accrued Liabilities [Abstract] | ' | ||||||||
Schedule of Accrued Liabilities | ' | ||||||||
As of September 30, 2013 and December 31, 2012, accrued liabilities consisted of the following (in thousands): | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
Accrued interest expense and related fees | $ | 97,758 | $ | 16,327 | |||||
Payroll | 25,693 | 6,369 | |||||||
LNG liquefaction costs | 33,956 | 27,919 | |||||||
LNG terminal costs | 1,650 | 977 | |||||||
Other accrued liabilities | 12,958 | 7,145 | |||||||
Accrued liabilities | $ | 172,015 | $ | 58,737 | |||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Schedule of Debt | ' | ||||||||
As of September 30, 2013 and December 31, 2012, our long-term debt consisted of the following (in thousands): | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
Long-term debt | |||||||||
2016 Notes | $ | 1,665,500 | $ | 1,665,500 | |||||
2020 Notes | 420,000 | 420,000 | |||||||
2021 Sabine Pass Liquefaction Senior Notes | 2,000,000 | — | |||||||
2023 Sabine Pass Liquefaction Senior Notes | 1,000,000 | — | |||||||
2012 Liquefaction Credit Facility | — | 100,000 | |||||||
2013 Liquefaction Credit Facilities | 100,000 | — | |||||||
CTPL Credit Facility | 400,000 | — | |||||||
Total long-term debt | 5,585,500 | 2,185,500 | |||||||
Long-term debt premium (discount) | |||||||||
2016 Notes | (14,866 | ) | (18,387 | ) | |||||
2021 Sabine Pass Liquefaction Senior Notes | 11,897 | — | |||||||
CTPL Credit Facility | (8,336 | ) | — | ||||||
Total long-term debt, net | $ | 5,574,195 | $ | 2,167,113 | |||||
Financial_Instruments_Tables
Financial Instruments (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||
Financial Instruments [Abstract] | ' | |||||||||||||||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | ' | |||||||||||||||||||||||||||||||
The following table (in thousands) shows the fair value of our derivative assets and liabilities that are required to be measured at fair value on a recurring basis as of September 30, 2013 and December 31, 2012, which are classified as other current assets, other current liabilities and other non-current liabilities in our Consolidated Balance Sheets. | ||||||||||||||||||||||||||||||||
Fair Value Measurements as of | ||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||
Quoted Prices in Active Markets | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | Quoted Prices in Active Markets | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||||||||||||||||||||||
(Level 1) | (Level 1) | |||||||||||||||||||||||||||||||
LNG Inventory Derivatives asset | $ | — | $ | 186 | $ | — | $ | 186 | $ | — | $ | 237 | $ | — | $ | 237 | ||||||||||||||||
Fuel Derivatives (liability) | — | (283 | ) | — | (283 | ) | — | (98 | ) | — | (98 | ) | ||||||||||||||||||||
Interest Rate Derivatives asset (liability) | — | 56,039 | — | 56,039 | — | (26,424 | ) | — | (26,424 | ) | ||||||||||||||||||||||
Fair Value, by Balance Sheet Grouping | ' | |||||||||||||||||||||||||||||||
: | ||||||||||||||||||||||||||||||||
Fair Value Measurements as of | ||||||||||||||||||||||||||||||||
Balance Sheet Location | September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||
LNG Inventory Derivatives asset | Prepaid expenses and other | $ | 186 | $ | 237 | |||||||||||||||||||||||||||
Fuel Derivatives (liability) | Prepaid expenses and other | (283 | ) | (98 | ) | |||||||||||||||||||||||||||
Other Financial Instruments (in thousands): | ||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||
Carrying | Estimated | Carrying | Estimated | |||||||||||||||||||||||||||||
Amount | Fair Value | Amount | Fair Value | |||||||||||||||||||||||||||||
2016 Notes, net of discount (1) | $ | 1,650,634 | $ | 1,811,570 | $ | 1,647,113 | $ | 1,824,177 | ||||||||||||||||||||||||
2020 Notes (1) | 420,000 | 425,250 | 420,000 | 437,850 | ||||||||||||||||||||||||||||
2021 Sabine Pass Liquefaction Senior Notes (1) | 2,011,897 | 1,951,540 | — | — | ||||||||||||||||||||||||||||
2023 Sabine Pass Liquefaction Senior Notes (1) | 1,000,000 | 952,500 | — | — | ||||||||||||||||||||||||||||
2012 Liquefaction Credit Facility (2) | — | — | 100,000 | 100,000 | ||||||||||||||||||||||||||||
2013 Liquefaction Credit Facilities (2) | 100,000 | 100,000 | — | — | ||||||||||||||||||||||||||||
CTPL Credit Facility (3) | 391,665 | 400,000 | — | — | ||||||||||||||||||||||||||||
-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 September 30, 2013 and December 31, 2012, as applicable. | |||||||||||||||||||||||||||||||
-2 | The Level 3 estimated fair value approximates the carrying amount because the interest rates are variable and reflective of market rates and Sabine Pass Liquefaction has the ability to call this debt at anytime without penalty. | |||||||||||||||||||||||||||||||
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location | ' | |||||||||||||||||||||||||||||||
three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||
Interest Rate Derivatives - Not Designated gain (loss) | $ | (22,481 | ) | $ | — | $ | 60,707 | $ | — | |||||||||||||||||||||||
The following table (in thousands) shows the changes in the fair value and settlements of our LNG Inventory Derivatives and Fuel Derivatives recorded in marketing and trading revenues (losses) on our Consolidated Statements of Operations during the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||
LNG Inventory Derivatives gain (loss) | $ | 14 | $ | (265 | ) | $ | (394 | ) | $ | 599 | ||||||||||||||||||||||
Fuel Derivatives loss | (57 | ) | — | (57 | ) | — | ||||||||||||||||||||||||||
The following table (in thousands) shows the changes in the fair value and settlements of our LNG Inventory Derivatives and Fuel Derivatives recorded in derivative gain (loss), net on our Consolidated Statements of Operations during the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||
LNG Inventory Derivatives gain | $ | 201 | $ | — | $ | 976 | $ | — | ||||||||||||||||||||||||
Fuel Derivatives gain (loss) | (55 | ) | 287 | (3 | ) | (288 | ) | |||||||||||||||||||||||||
Schedule of Derivative Instruments [Table Text Block] | ' | |||||||||||||||||||||||||||||||
commodity and interest rate derivatives are presented on a net basis on our Consolidated 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 Consolidated Balance Sheet | Net Amounts Presented in the Consolidated Balance Sheet | Gross Amounts Not Offset in the Consolidated Balance Sheet | |||||||||||||||||||||||||||||
Offsetting Derivative Assets (Liabilities) | Derivative Instrument | Cash Collateral Received (Paid) | Net Amount | |||||||||||||||||||||||||||||
As of September 30, 2013: | ||||||||||||||||||||||||||||||||
Fuel Derivatives | $ | (283 | ) | $ | (283 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
LNG Inventory Derivatives | 186 | 186 | — | — | 186 | |||||||||||||||||||||||||||
Interest Rate Derivatives - Not Designated | 64,309 | — | 64,309 | — | — | 64,309 | ||||||||||||||||||||||||||
Interest Rate Derivatives - Not Designated | (8,270 | ) | — | (8,270 | ) | — | — | (8,270 | ) | |||||||||||||||||||||||
As of December 31, 2012: | ||||||||||||||||||||||||||||||||
Fuel Derivatives | (98 | ) | (98 | ) | — | — | — | — | ||||||||||||||||||||||||
LNG Inventory Derivatives | 237 | — | 237 | — | — | 237 | ||||||||||||||||||||||||||
Interest Rate Derivatives - Designated | (21,290 | ) | — | (21,290 | ) | — | — | (21,290 | ) | |||||||||||||||||||||||
Interest Rate Derivatives - Not Designated | (5,134 | ) | — | (5,134 | ) | — | — | (5,134 | ) | |||||||||||||||||||||||
Schedule of Notional Amounts of Outstanding Derivative Positions | ' | |||||||||||||||||||||||||||||||
Initial Notional Amount | Maximum Notional Amount | Effective Date | Maturity Date | Weighted Average Fixed Interest Rate Paid | Variable Interest Rate Received | |||||||||||||||||||||||||||
Interest Rate Derivatives - Not Designated | $20.0 million | $2.9 billion | 14-Aug-12 | 31-Jul-19 | 1.98% | One-month LIBOR | ||||||||||||||||||||||||||
Interest Rate Derivatives - Not Designated | — | $671.0 million | 5-Jun-13 | 28-May-20 | 2.05% | One-month LIBOR | ||||||||||||||||||||||||||
Schedule of Interest Rate Derivatives | ' | |||||||||||||||||||||||||||||||
: | ||||||||||||||||||||||||||||||||
Fair Value Measurements as of | ||||||||||||||||||||||||||||||||
Balance Sheet Location | September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||
Interest Rate Derivatives - Not Designated | Non-current derivative assets | $ | 64,309 | $ | — | |||||||||||||||||||||||||||
Interest Rate Derivatives - Designated | Non-current derivative liabilities | — | 21,290 | |||||||||||||||||||||||||||||
Interest Rate Derivatives - Not Designated | Other current liabilities | 8,270 | — | |||||||||||||||||||||||||||||
Interest Rate Derivatives - Not Designated | Non-current derivative liabilities | — | 5,134 | |||||||||||||||||||||||||||||
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) | ' | |||||||||||||||||||||||||||||||
The following table (in thousands) details the effect of our Interest Rate Derivatives included in OCI and AOCI for the nine months ended September 30, 2013 and 2012: | ||||||||||||||||||||||||||||||||
Gain (Loss) in Other Comprehensive Income | Gain (Loss) Reclassified from AOCI into Interest Expense (Effective Portion) | Losses Reclassified into Earnings as a Result of Discontinuance of Cash Flow Hedge Accounting | ||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||
Interest Rate Derivatives - Designated | $ | 21,297 | $ | (29,676 | ) | $ | — | $ | — | $ | (5,806 | ) | $ | — | ||||||||||||||||||
Interest Rate Derivatives - Settlements | (30 | ) | — | — | — | (167 | ) | — | ||||||||||||||||||||||||
The following table (in thousands) details the effect of our Interest Rate Derivatives included in OCI and AOCI for the three months ended September 30, 2013 and 2012: | ||||||||||||||||||||||||||||||||
Gain (Loss) in Other Comprehensive Income | Gain (Loss) Reclassified from AOCI into Interest Expense (Effective Portion) | Losses Reclassified into Earnings as a Result of Discontinuance of Cash Flow Hedge Accounting | ||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||
Interest Rate Derivatives - Designated | $ | — | $ | (29,676 | ) | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||
Schedule of Financial Instruments | ' | |||||||||||||||||||||||||||||||
commodity and interest rate derivatives are presented on a net basis on our Consolidated 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 Consolidated Balance Sheet | Net Amounts Presented in the Consolidated Balance Sheet | Gross Amounts Not Offset in the Consolidated Balance Sheet | |||||||||||||||||||||||||||||
Offsetting Derivative Assets (Liabilities) | Derivative Instrument | Cash Collateral Received (Paid) | Net Amount | |||||||||||||||||||||||||||||
As of September 30, 2013: | ||||||||||||||||||||||||||||||||
Fuel Derivatives | $ | (283 | ) | $ | (283 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
LNG Inventory Derivatives | 186 | 186 | — | — | 186 | |||||||||||||||||||||||||||
Interest Rate Derivatives - Not Designated | 64,309 | — | 64,309 | — | — | 64,309 | ||||||||||||||||||||||||||
Interest Rate Derivatives - Not Designated | (8,270 | ) | — | (8,270 | ) | — | — | (8,270 | ) | |||||||||||||||||||||||
As of December 31, 2012: | ||||||||||||||||||||||||||||||||
Fuel Derivatives | (98 | ) | (98 | ) | — | — | — | — | ||||||||||||||||||||||||
LNG Inventory Derivatives | 237 | — | 237 | — | — | 237 | ||||||||||||||||||||||||||
Interest Rate Derivatives - Designated | (21,290 | ) | — | (21,290 | ) | — | — | (21,290 | ) | |||||||||||||||||||||||
Interest Rate Derivatives - Not Designated | (5,134 | ) | — | (5,134 | ) | — | — | (5,134 | ) | |||||||||||||||||||||||
Business_Segment_Information_T
Business Segment Information (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Schedule of Segment Reporting Information, by Segment | ' | ||||||||||||||||
The following table summarizes revenues, net income (loss) from operations and total assets for each of our operating segments (in thousands): | |||||||||||||||||
Segments | |||||||||||||||||
LNG Terminal | LNG & Natural Gas Marketing | Corporate and Other (1) | Total | ||||||||||||||
Consolidation | |||||||||||||||||
As of or for the Three Months Ended September 30, 2013 | |||||||||||||||||
Revenues (2) | $ | 67,558 | $ | 16,470 | $ | (16,318 | ) | $ | 67,710 | ||||||||
Intersegment revenues (losses) (3) (4) | 820 | 15,880 | (16,700 | ) | — | ||||||||||||
Depreciation, depletion and amortization | 14,581 | 251 | 414 | 15,246 | |||||||||||||
Non-cash compensation | 3,148 | 4,594 | 20,197 | 27,939 | |||||||||||||
Income (loss) from operations | (49,600 | ) | 2,919 | 805 | (45,876 | ) | |||||||||||
Interest expense, net | (55,378 | ) | — | 2,850 | (52,528 | ) | |||||||||||
Income (loss) before income taxes and non-controlling interest | (127,202 | ) | 2,515 | 4,013 | (120,674 | ) | |||||||||||
Goodwill | 76,819 | — | — | 76,819 | |||||||||||||
Total assets | 7,719,551 | 63,756 | 342,546 | 8,125,853 | |||||||||||||
Expenditures for additions to long-lived assets | 852,847 | 61 | 389 | 853,297 | |||||||||||||
As of or for the Three Months Ended September 30, 2012 | |||||||||||||||||
Revenues (2) | $ | 69,868 | $ | 2,661 | — | $ | (6,531 | ) | $ | 65,998 | |||||||
Intersegment revenues (losses) (3) (4) | 3,929 | 2,953 | (6,882 | ) | — | ||||||||||||
Depreciation, depletion and amortization | 14,566 | 256 | 411 | 15,233 | |||||||||||||
Non-cash compensation | 6,505 | 9,256 | 36,104 | 51,865 | |||||||||||||
Loss from operations | (16,446 | ) | (16,462 | ) | (21,609 | ) | (54,517 | ) | |||||||||
Interest expense, net | (55,333 | ) | 12 | 9,817 | (45,504 | ) | |||||||||||
Income (loss) before income taxes and non-controlling interest | (71,335 | ) | 418,655 | (459,135 | ) | (111,815 | ) | ||||||||||
Goodwill | 76,819 | — | — | 76,819 | |||||||||||||
Total assets | 4,136,574 | 42,308 | 204,843 | 4,383,725 | |||||||||||||
Expenditures for additions to long-lived assets | 883,798 | (6 | ) | 696 | 884,488 | ||||||||||||
For the Nine Months Ended September 30, 2013 | |||||||||||||||||
Revenues (2) | $ | 201,408 | $ | 27,627 | $ | (28,242 | ) | $ | 200,793 | ||||||||
Intersegment revenues (losses) (3) (4) | 2,184 | 27,186 | (29,370 | ) | — | ||||||||||||
Depreciation, depletion and amortization | 43,405 | 751 | 1,377 | 45,533 | |||||||||||||
Non-cash compensation | 22,477 | 36,234 | 152,635 | 211,346 | |||||||||||||
Loss from operations | (103,655 | ) | (39,543 | ) | (106,410 | ) | (249,608 | ) | |||||||||
Interest expense, net | (156,644 | ) | — | 21,838 | (134,806 | ) | |||||||||||
Income (loss) before income taxes and non-controlling interest | 128,441 | (40,092 | ) | (496,613 | ) | (408,264 | ) | ||||||||||
Expenditures for additions to long-lived assets | 2,467,210 | 57 | 1,293 | 2,468,560 | |||||||||||||
For the Nine Months Ended September 30, 2012 | |||||||||||||||||
Revenues (2) | $ | 206,249 | $ | 977 | $ | (8,427 | ) | $ | 198,799 | ||||||||
Intersegment revenues (losses) (3) (4) | 6,973 | 2,618 | (9,591 | ) | — | ||||||||||||
Depreciation, depletion and amortization | 43,810 | 1,815 | 1,376 | 47,001 | |||||||||||||
Non-cash compensation | 6,964 | 10,657 | 38,492 | 56,113 | |||||||||||||
Income (loss) from operations | 7,237 | (31,788 | ) | (35,366 | ) | (59,917 | ) | ||||||||||
Interest expense, net | (165,251 | ) | 12 | 5,520 | (159,719 | ) | |||||||||||
Loss before income taxes and non-controlling interest | (158,016 | ) | 403,369 | (491,875 | ) | (246,522 | ) | ||||||||||
Expenditures for additions to long-lived assets | 931,542 | 1,659 | 1,192 | 934,393 | |||||||||||||
-1 | Includes corporate activities, oil and gas exploration, development and exploitation activities and certain intercompany eliminations. Our oil and gas exploration, development and exploitation operating activities have been included in the corporate and other column due to the lack of a material impact that these activities have on our consolidated financial statements. | ||||||||||||||||
-2 | Substantially all of the LNG terminal revenues relate to regasification capacity reservation fee payments made by Total Gas & Power North America, Inc. and Chevron U.S.A. Inc. LNG and natural gas marketing and trading revenue consists primarily of the domestic marketing of natural gas imported into the Sabine Pass LNG terminal and international revenue allocations using a cost plus transfer pricing methodology. | ||||||||||||||||
-3 | Intersegment revenues related to our LNG terminal business segment are primarily from tug revenues from Cheniere Marketing and the receipt of 80% of gross margins earned by Cheniere Marketing in an effort to utilize the reserved capacity at the Sabine Pass LNG terminal of Cheniere Investments under its terminal use rights assignment and agreement ("TURA") pursuant to which Cheniere Investments has the right to use Sabine Pass Liquefaction's reserved capacity at the Sabine Pass LNG terminal under Sabine Pass Liquefaction's TUA in the three and nine months ended September 30, 2013 and 2012. These LNG terminal business segment intersegment revenues are eliminated with intersegment expenses in our Consolidated Statements of Operations. | ||||||||||||||||
-4 | Intersegment revenues (losses) related to our LNG and natural gas marketing business segment are primarily from Cheniere Marketing's tug costs and the payment of 80% of gross margins earned by Cheniere Marketing in an effort to utilize the reserved capacity at the Sabine Pass LNG terminal of Cheniere Investments under its TURA in the three and nine months ended September 30, 2013 and 2012. These LNG and natural gas marketing business segment intersegment costs are eliminated with intersegment revenues in our Consolidated Statements of Operations. |
Supplemental_Cash_Flow_Informa1
Supplemental Cash Flow Information (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Supplemental Cash Flow Information [Abstract] | ' | ||||||||
Schedule of Cash Flow, Supplemental Disclosures | ' | ||||||||
The following table provides supplemental disclosure of cash flow information (in thousands): | |||||||||
Nine Months Ended September 30, | |||||||||
2013 | 2012 | ||||||||
Cash paid during the year for interest, net of amounts capitalized and deferred | $ | 56,428 | $ | 117,190 | |||||
LNG terminal costs funded with accounts payable and accrued liabilities | 80,557 | 52,830 | |||||||
ORGANIZATION_AND_NATURE_OF_OPE1
ORGANIZATION AND NATURE OF OPERATIONS Organization and Nature of Operations (Details) (USD $) | 9 Months Ended | 9 Months Ended | |||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | 28-May-13 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
Sabine Pass LNG, LP [Member] | Sabine Pass Liquefaction [Member] | Creole Trail Pipeline Business [Domain] | Cheniere Energy Partners, LP [Member] | Class B Unit [Member] | LNG Sale and Purchase Agreement [Member] | ||
m3 | trains | Cheniere Marketing, LLC [Member] | |||||
Sabine Pass Liquefaction [Member] | |||||||
MMBTU | |||||||
Organization and nature of operations [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Cost of Acquired Entity, Cash Paid | $313.90 | ' | ' | ' | ' | ' | ' |
Purchase Commitment, Excess And Uncommitted LNG Produced | ' | ' | ' | ' | ' | ' | 104,000,000 |
Ownership Interest | ' | ' | ' | ' | 57.90% | ' | ' |
Storage Capacity | ' | 16.9 | ' | ' | ' | ' | ' |
Volume of vessel | ' | 265,000 | ' | ' | ' | ' | ' |
Regasification capacity | ' | 4 | ' | ' | ' | ' | ' |
Number of Liquefaction LNG Trains | ' | ' | 6 | ' | ' | ' | ' |
Train nominal capacity | 4,500,000 | ' | ' | ' | ' | ' | ' |
Business Acquisition, Cost of Acquired Entity, Purchase Price | ' | ' | ' | 480 | ' | ' | ' |
Reimbursement of costs incurred prior to acquisition closing date | ' | ' | ' | 13.9 | ' | ' | ' |
Partners' Capital Account, Sale of Units | ' | ' | ' | ' | ' | 12 | ' |
Proceeds From Sale Of Class B Units | $180 | ' | ' | ' | ' | ' | ' |
Restricted_Cash_and_Cash_Equiv1
Restricted Cash and Cash Equivalents (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Jul. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
Other Contractual Restrictions [Member] | Other Contractual Restrictions [Member] | Sabine Pass LNG, LP [Member] | Sabine Pass LNG, LP [Member] | Sabine Pass LNG, LP [Member] | Sabine Pass LNG, LP [Member] | Cheniere Creole Trail Pipeline LP [Member] | Sabine Pass LNG and Cheniere Partners [Member] | Sabine Pass LNG and Cheniere Partners [Member] | Senior Notes | 2012 Liquefaction Credit Facility [Member] | 2012 Liquefaction Credit Facility [Member] | 2020 Notes | 2020 Notes | 2020 Notes | 2020 Notes | Senior Secured Notes Due 2021 [Member] | Senior Secured Notes Due 2021 [Member] | Senior Secured Notes Due 2021 [Member] | Sabine Pass Liquefaction Notes due 2023 [Member] | Sabine Pass Liquefaction Notes due 2023 [Member] | 2016 Senior Notes [Member] | 2016 Senior Notes [Member] | Payment of Liabilities [Member] | Payment of Liabilities [Member] | Payment For Project [Member] | Payment For Project [Member] | |||
Senior Notes Interest Payments [Member] | Senior Notes Interest Payments [Member] | Debt Service Reserve Fund [Member] | Debt Service Reserve Fund [Member] | Cheniere Energy, Inc. [Member] | Cheniere Energy, Inc. [Member] | Sabine Pass LNG, LP [Member] | Sabine Pass Liquefaction [Member] | Sabine Pass Liquefaction [Member] | Sabine Pass LNG, LP [Member] | Sabine Pass LNG, LP [Member] | Senior Notes | Senior Notes | Sabine Pass Liquefaction [Member] | Senior Notes | Sabine Pass Liquefaction [Member] | Senior Notes | Sabine Pass LNG, LP [Member] | Sabine Pass LNG, LP [Member] | Sabine Pass Liquefaction [Member] | Sabine Pass Liquefaction [Member] | Sabine Pass Liquefaction [Member] | Sabine Pass Liquefaction [Member] | |||||||
Rate | Sabine Pass LNG, LP [Member] | Sabine Pass LNG, LP [Member] | Sabine Pass Liquefaction [Member] | Sabine Pass Liquefaction [Member] | Debt Service Reserve Fund [Member] | Debt Service Reserve Fund [Member] | Debt Service Reserve Fund [Member] | Debt Service Reserve Fund [Member] | |||||||||||||||||||||
Restricted Cash and Cash Equivalents Items [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount of private offerings consummated | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $420,000,000 | $420,000,000 | $500,000,000 | $2,000,000,000 | $2,000,000,000 | $1,000,000,000 | $1,000,000,000 | $1,665,500,000 | $166,500,000 | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.50% | 6.50% | ' | ' | ' | ' | ' | ' | ' | 7.50% | 7.50% | ' | ' | ' | ' |
Debt Instrument, Fixed Charge, Coverage Ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,900,000,000 | 3,600,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current restricted cash and cash equivalents | 577,945,000 | 520,263,000 | 28,000,000 | 8,500,000 | 53,000,000 | 17,400,000 | ' | ' | 23,500,000 | 339,900,000 | 419,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 133,500,000 | 75,100,000 | ' | ' |
Non-current restricted cash and cash equivalents | $828,858,000 | $272,924,000 | $500,000 | ' | ' | ' | $76,100,000 | $76,100,000 | $87,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $665,100,000 | $196,300,000 |
Property_Plant_and_Equipment_S
Property, Plant and Equipment Schedule of Property, Plant and Equipment (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Property, plant and equipment, net | $5,705,567,000 | ' | $5,705,567,000 | ' | $3,282,305,000 |
LNG terminal costs [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Depreciation | 14,400,000 | 14,500,000 | 43,000,000 | 43,000,000 | ' |
Interest Costs Capitalized | 30,200,000 | 14,000,000 | 125,000,000 | ' | ' |
Accumulated depreciation, depletion and amortization | 278,071,000 | ' | 278,071,000 | ' | 235,275,000 |
Property, plant and equipment, net | 5,697,319,000 | ' | 5,697,319,000 | ' | 3,273,516,000 |
LNG terminal [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Property, plant and equipment, gross | 2,233,748,000 | ' | 2,233,748,000 | ' | 2,233,595,000 |
LNG terminal construction-in-process [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Property, plant and equipment, gross | 3,735,876,000 | ' | 3,735,876,000 | ' | 1,269,798,000 |
LNG site and related costs, net [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Property, plant and equipment, gross | 5,766,000 | ' | 5,766,000 | ' | 5,398,000 |
Fixed assets [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Depreciation | 800,000 | 800,000 | 2,500,000 | 3,600,000 | ' |
Accumulated depreciation, depletion and amortization | 31,630,000 | ' | 31,630,000 | ' | 29,127,000 |
Property, plant and equipment, net | 8,248,000 | ' | 8,248,000 | ' | 8,789,000 |
Computer and office equipment [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Property, plant and equipment, gross | 7,808,000 | ' | 7,808,000 | ' | 7,014,000 |
Furniture and Fixtures [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Property, plant and equipment, gross | 4,167,000 | ' | 4,167,000 | ' | 4,057,000 |
Computer Software [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Property, plant and equipment, gross | 13,125,000 | ' | 13,125,000 | ' | 13,012,000 |
Leasehold Improvements [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Property, plant and equipment, gross | 7,226,000 | ' | 7,226,000 | ' | 6,989,000 |
Other Fixed Assets [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Property, plant and equipment, gross | $7,552,000 | ' | $7,552,000 | ' | $6,844,000 |
Property_Plant_and_Equipment_D
Property, Plant and Equipment (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
LNG terminal costs [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Depreciation | $14.40 | $14.50 | $43 | $43 |
Interest Costs Capitalized | 30.2 | 14 | 125 | ' |
Fixed assets [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Depreciation | $0.80 | $0.80 | $2.50 | $3.60 |
NonControlling_Interest_Detail
Non-Controlling Interest (Details) (USD $) | 3 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 79 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 6 Months Ended | 1 Months Ended | 8 Months Ended | 1 Months Ended | 3 Months Ended | 8 Months Ended | |||||||||||
Share data in Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Apr. 30, 2007 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2011 | Sep. 30, 2012 | Sep. 30, 2011 | Mar. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2013 | Apr. 30, 2007 | Sep. 30, 2011 | Apr. 30, 2007 | 31-May-12 | Dec. 31, 2012 | Aug. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | ||
Cheniere Energy Partners, LP [Member] | Cheniere Energy Partners, LP [Member] | Cheniere Energy Partners, LP [Member] | Cheniere LNG Holdings [Member] | common units [Member] | common units [Member] | common units [Member] | common units [Member] | common units [Member] | common units [Member] | common units [Member] | common units [Member] | common units [Member] | common units [Member] | Class B Unit [Member] | Class B Unit [Member] | Blackstone CQP Holdco LP [Member] | Blackstone CQP Holdco LP [Member] | Blackstone CQP Holdco LP [Member] | |||||||
Cheniere Energy Partners, LP [Member] | Cheniere Energy Partners, LP [Member] | Cheniere Energy Partners, LP [Member] | Cheniere Energy Partners, LP [Member] | Cheniere Energy Partners, LP [Member] | Cheniere Common Units Holding, LLC [Member] | Cheniere LNG Holdings [Member] | Common Unit Purchase Option [Member] | Common Unit Purchase Option [Member] | Cheniere Energy Partners, LP [Member] | Cheniere Energy Partners, LP [Member] | Class B Unit [Member] | Class B Unit [Member] | Class B Unit [Member] | ||||||||||||
Cheniere LNG Holdings [Member] | Cheniere LNG Holdings [Member] | Cheniere Energy Partners, LP [Member] | Cheniere Energy Partners, LP [Member] | Cheniere Energy Partners, LP [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Proceeds from Issuance or Sale of Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $11,100,000 | $9,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Stockholders' Equity Attributable to Noncontrolling Interest [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Net proceeds fromCheniere Partners' issuance of common units | ' | ' | ' | ' | ' | ' | 719,572,000 | [1] | 203,946,000 | [2] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions to Cheniere Partners' non-controlling interest | ' | ' | -50,046,000 | ' | ' | ' | -207,396,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Non-controlling interest | 21,659,000 | 2,875,000 | 38,323,000 | 8,277,000 | ' | ' | 76,325,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Partners' Capital Account, Units, Sold in Public Offering | ' | ' | ' | ' | 15.5 | ' | ' | ' | ' | ' | 3 | ' | 8 | ' | ' | ' | 1.1 | 2 | ' | ' | ' | ' | ' | ||
Proceeds from sale of common units by Cheniere Partners | ' | ' | 364,775,000 | 205,174,000 | 98,400,000 | ' | ' | ' | ' | ' | ' | ' | 194,000,000 | 43,300,000 | ' | 203,900,000 | 16,400,000 | 39,400,000 | ' | ' | ' | ' | ' | ||
Number of units authorized for sale under issuance program | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Number of common units sold as part of program | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.5 | 0.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Common units sold in private placement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17.6 | ' | ' | ' | ' | ' | ' | ' | 100 | 33.3 | 66.7 | 100 | ||
Price per Common Unit | ' | ' | ' | ' | ' | ' | ' | ' | $15.25 | $25.07 | ' | ' | ' | ' | $20.75 | ' | ' | ' | $15 | ' | ' | ' | ' | ||
Proceeds from sale of common stock, net | ' | ' | $274,000 | $1,200,717,000 | ' | $364,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
[1] | In March and April 2007, we and Cheniere Partners completed a public offering of 15.5 million Cheniere Partners common units (the "Cheniere Partners IPO"). Cheniere Partners received $98.4 million in net proceeds from the issuance of its common units to the public.In January 2011, Cheniere Partners initiated an at-the-market program to sell up to 1.0 million common units, the proceeds from which would be used primarily to fund development costs associated with the Liquefaction Project. As of DecemberB 31, 2011, Cheniere Partners had sold 0.5 million common units with net proceeds of $9.0 million. During the year ended DecemberB 31, 2012, Cheniere Partners sold 0.5 million common units with net proceeds of $11.1 million. In September 2011, Cheniere Partners sold 3.0 million common units in an underwritten public offering and 1.1 million common units to Cheniere Common Units Holding, LLC, a wholly owned subsidiary of Cheniere, at a price of $15.25 per common unit. Cheniere Partners received net proceeds of $43.3 million and $16.4 million from the public offering and Cheniere Common Units Holding, LLC sale, respectively.In September 2012, Cheniere Partners sold 8.0 million common units in an underwritten public offering at a price of $25.07 per common unit for net cash proceeds of $194.0 million. In March 2013, Cheniere Partners sold 17.6 million common units in a registered direct offering to institutional investors at a price of $20.75 per common unit for net proceeds of $364.8 million. | ||||||||||||||||||||||||
[2] | In conjunction with the Cheniere Partners IPO, Cheniere LNG Holdings, LLC ("CLNGH") sold a portion of the Cheniere Partners common units held by it to the public, realizing net proceeds of $203.9 million, which included $39.4 million of net proceeds realized once the underwriters exercised their option to purchase an additional 2.0 million common units from Holdings. |
Variable_Interest_Entity_Detai
Variable Interest Entity (Details) (USD $) | 1 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 8 Months Ended | 1 Months Ended | 3 Months Ended | 8 Months Ended | ||||||||
In Millions, except Per Share data, unless otherwise specified | Apr. 30, 2007 | Sep. 30, 2013 | Sep. 30, 2011 | Sep. 30, 2012 | Sep. 30, 2011 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | 31-May-12 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Aug. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 |
Cheniere Energy Partners, LP [Member] | Cheniere Energy Partners, LP [Member] | common units [Member] | common units [Member] | common units [Member] | common units [Member] | common units [Member] | common units [Member] | Class B Unit [Member] | Class B Unit [Member] | Class B Unit [Member] | Subordinated Units [Member] | General Partner [Member] | Minimum [Member] | Blackstone CQP Holdco LP [Member] | Blackstone CQP Holdco LP [Member] | Blackstone CQP Holdco LP [Member] | |
Cheniere Energy Partners, LP [Member] | Cheniere Energy Partners, LP [Member] | Cheniere Energy Partners, LP [Member] | Cheniere Energy Partners, LP [Member] | Sabine Pass LNG terminal [Member] | Cheniere Energy Partners, LP [Member] | Cheniere Energy Partners, LP [Member] | Sabine Pass LNG terminal [Member] | Sabine Pass LNG terminal [Member] | Sabine Pass LNG terminal [Member] | Cheniere Energy Partners, LP [Member] | Class B Unit [Member] | Class B Unit [Member] | Class B Unit [Member] | ||||
Cheniere Energy Partners, LP [Member] | Cheniere Energy Partners, LP [Member] | Cheniere Energy Partners, LP [Member] | Cheniere Energy Partners, LP [Member] | Cheniere Energy Partners, LP [Member] | Cheniere Energy Partners, LP [Member] | ||||||||||||
Variable Interest Entity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partners' Capital Account, Units, Sold in Public Offering | 15.5 | ' | ' | ' | 3 | ' | 8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ownership Interest | ' | 57.90% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 0.00% | ' | ' | ' |
Common units held | ' | ' | ' | ' | ' | ' | ' | 12 | ' | ' | 45.3 | 135.4 | ' | 50 | ' | ' | ' |
Price per Common Unit | ' | ' | $15.25 | $25.07 | ' | ' | ' | ' | $15 | ' | ' | ' | ' | ' | ' | ' | ' |
Common units sold in private placement | ' | ' | ' | ' | ' | 17.6 | ' | ' | ' | 100 | ' | ' | ' | ' | 33.3 | 66.7 | 100 |
Accrued_Liabilities_Details
Accrued Liabilities (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accrued Liabilities, Current [Abstract] | ' | ' |
Accrued interest expense and related fees | $97,758 | $16,327 |
Payroll | 25,693 | 6,369 |
LNG liquefaction costs | 33,956 | 27,919 |
LNG terminal costs | 1,650 | 977 |
Other accrued liabilities | 12,958 | 7,145 |
Accrued liabilities | $172,015 | $58,737 |
LongTerm_Debt_Schedule_of_Long
Long-Term Debt - Schedule of Long Term Debt (Details) (USD $) | 3 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Apr. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |
2012 Liquefaction Credit Facility [Member] | 2012 Liquefaction Credit Facility [Member] | Creole Trail Pipeline Credit Facility [Member] | Creole Trail Pipeline Credit Facility [Member] | Senior Notes | Senior Notes | Senior Notes | Liquefaction Credit Facility | Liquefaction Credit Facility | Cheniere Creole Trail Pipeline LP [Member] | Cheniere Creole Trail Pipeline LP [Member] | Sabine Pass Liquefaction [Member] | Sabine Pass Liquefaction [Member] | Sabine Pass Liquefaction [Member] | Sabine Pass Liquefaction [Member] | Sabine Pass Liquefaction [Member] | Sabine Pass Liquefaction [Member] | Sabine Pass Liquefaction [Member] | Sabine Pass Liquefaction [Member] | Sabine Pass LNG, LP [Member] | Sabine Pass LNG, LP [Member] | Sabine Pass LNG, LP [Member] | Sabine Pass LNG, LP [Member] | Sabine Pass LNG, LP [Member] | Sabine Pass LNG, LP [Member] | Sabine Pass LNG, LP [Member] | Sabine Pass LNG, LP [Member] | Sabine Pass LNG, LP [Member] | Sabine Pass LNG, LP [Member] | Sabine Pass LNG, LP [Member] | ||||||
Long-term Debt Discount [Member] | Long-term Debt Discount [Member] | 2012 Liquefaction Credit Facility [Member] | 2013 Sabine Pass Liquefaction Credit Facility [Member] | Creole Trail Pipeline Credit Facility [Member] | Creole Trail Pipeline Credit Facility [Member] | 2021 Sabine Pass Liquefaction Notes [Member] | 2021 Sabine Pass Liquefaction Notes [Member] | Sabine Pass Liquefaction Notes due 2023 [Member] | Sabine Pass Liquefaction Notes due 2023 [Member] | 2012 Liquefaction Credit Facility [Member] | 2013 Sabine Pass Liquefaction Credit Facility [Member] | 2013 Sabine Pass Liquefaction Credit Facility [Member] | 2016 Senior Notes [Member] | 2016 Senior Notes [Member] | 2020 Notes | 2020 Notes | Senior Notes | Senior Notes | Senior Notes | Senior Notes | Senior Notes | Senior Notes | Senior Notes | ||||||||||||
Rate | Rate | 2016 Senior Notes [Member] | 2016 Senior Notes [Member] | 2020 Notes | 2020 Notes | ||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Debt Hedged by Interest Rate Derivatives | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | 75.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.63% | ' | ' | ' | ' | ' | ' | 7.50% | 7.50% | 6.50% | 6.50% | ' | ' | ' | ' | ' | ' | ' |
Redemption of Debt Instrument, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | ' |
Redemption Premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1.06 | ' |
Line of Credit Facility, Increase (Decrease) for Period, Net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gains (Losses) on Extinguishment of Debt | 0 | 0 | -80,510,000 | -15,098,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage if 2020 Notes Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 65.00% | ' |
Debt instrument fixed charge coverage ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' |
Debt discount | ' | ' | ' | ' | ' | ' | ' | 8,336,000 | 0 | ' | 14,866,000 | 18,387,000 | ' | ' | -10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Unamortized Premium | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,897,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt (including related parties) | 5,585,500,000 | ' | 5,585,500,000 | ' | 2,185,500,000 | 0 | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | 400,000,000 | 0 | ' | 2,000,000,000 | 0 | 1,000,000,000 | 0 | ' | 100,000,000 | 0 | ' | ' | ' | ' | ' | ' | ' | 1,665,500,000 | 1,665,500,000 | 420,000,000 | 420,000,000 |
Total long-term debt, (including related parties), net of discount | 5,574,195,000 | ' | 5,574,195,000 | ' | 2,167,113,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distribution Made to Member or Limited Partner, Cash Distributions Paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | $182,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $93,000,000 | $36,200,000 | $242,100,000 | ' | ' | ' | ' |
LongTerm_Debt_Sabine_Pass_LNG_
Long-Term Debt - Sabine Pass LNG Senior Notes (Details) (USD $) | 9 Months Ended | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | |
Senior Notes | Sabine Pass LNG, LP [Member] | Sabine Pass LNG, LP [Member] | Sabine Pass LNG, LP [Member] | Sabine Pass LNG, LP [Member] | Sabine Pass LNG, LP [Member] | Sabine Pass LNG, LP [Member] | Sabine Pass LNG, LP [Member] | Sabine Pass LNG, LP [Member] | Sabine Pass LNG, LP [Member] | |
2016 Senior Notes [Member] | 2016 Senior Notes [Member] | 2020 Notes | 2020 Notes | Senior Notes | Senior Notes | Senior Notes | Senior Notes | Senior Notes | ||
Rate | 2020 Notes | 2020 Notes | ||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument principal amount | ' | $1,665,500,000 | $166,500,000 | ' | ' | ' | ' | ' | $420,000,000 | $420,000,000 |
Debt Instrument, Interest Rate, Stated Percentage | ' | 7.50% | 7.50% | 6.50% | 6.50% | ' | ' | ' | ' | ' |
Debt instrument fixed charge coverage ratio | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' |
Distribution Made to Member or Limited Partner, Cash Distributions Paid | 182,900,000 | ' | ' | ' | ' | 93,000,000 | 36,200,000 | 242,100,000 | ' | ' |
Redemption of Debt Instrument, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | ' |
Redemption Premium | ' | ' | ' | ' | ' | ' | ' | ' | $1.06 | ' |
Percentage if 2020 Notes Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 65.00% | ' |
LongTerm_Debt_Sabine_Pass_Liqu
Long-Term Debt - Sabine Pass Liquefaction Credit Facilities (Details) (USD $) | 3 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 1 Months Ended | 4 Months Ended | ||||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Apr. 30, 2013 | Jul. 31, 2012 | Sep. 30, 2013 | Aug. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jul. 31, 2012 | Sep. 30, 2013 | Jul. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
Sabine Pass Liquefaction Notes due 2023 [Member] | Senior Secured Notes Due 2021 [Member] | Senior Secured Notes Due 2021 [Member] | 2012 Liquefaction Credit Facility [Member] | 2012 Liquefaction Credit Facility [Member] | 2012 Liquefaction Credit Facility [Member] | 2012 Liquefaction Credit Facility [Member] | 2012 Liquifaction Credit Facility - LIBOR Loans [Member] | 2012 Liquifaction Credit Facility - LIBOR Loans [Member] | 2021 Sabine Pass Liquefaction Notes [Member] | 2013 Sabine Pass Liquefaction Credit Facility [Member] | Liquefaction Credit Facility | Liquefaction Credit Facility | Liquefaction Credit Facility | Liquefaction Credit Facility | Liquefaction Credit Facility | Debt Service Reserve Fund [Member] | Operations [Member] | Operations [Member] | Construction [Member] | Construction [Member] | |||||
Sabine Pass Liquefaction [Member] | Sabine Pass Liquefaction [Member] | Sabine Pass Liquefaction [Member] | Sabine Pass Liquefaction [Member] | Sabine Pass Liquefaction [Member] | Sabine Pass Liquefaction [Member] | Operations [Member] | Construction [Member] | Sabine Pass Liquefaction [Member] | Sabine Pass Liquefaction [Member] | 2012 Liquefaction Credit Facility [Member] | 2012 Liquefaction Credit Facility [Member] | 2012 Liquifaction Credit Facility - LIBOR Loans [Member] | 2013 Sabine Pass Liquefaction Credit Facility [Member] | 2013 Liquifaction Credit Facility - LIBOR Loans [Member] [Member] | Acquisition of Non-current Assets [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | ||||||
Rate | 2012 Liquefaction Credit Facility [Member] | 2013 Liquifaction Credit Facility - LIBOR Loans [Member] [Member] | 2013 Liquifaction Credit Facility - LIBOR Loans [Member] [Member] | 2013 Liquifaction Credit Facility - LIBOR Loans [Member] [Member] | 2013 Liquifaction Credit Facility - LIBOR Loans [Member] [Member] | ||||||||||||||||||||
Sabine Pass Liquefaction [Member] | |||||||||||||||||||||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | $3,600,000,000 | $5,900,000,000 | ' | ' | ' | ' | $5,900,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Maturity Date | ' | ' | ' | ' | ' | ' | ' | ' | 31-Jul-19 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000,000 | ' | ' | ' | 100,000,000 | ' | ' | ' | ' | ' | 100,000,000 | ' | ' | ' | ' |
Percentage of Debt Hedged by Interest Rate Derivatives | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | ' | 75.00% | ' | ' | ' | ' | ' | ' |
Debt Instrument, Fixed Charge, Coverage Ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption Premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument principal amount | ' | ' | ' | ' | 1,000,000,000 | 500,000,000 | 2,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.63% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Description of Variable Rate Basis | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'LIBOR | ' | ' | 'LIBOR | ' | ' | ' | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.75% | 3.50% | ' | ' | ' | ' | ' | ' | ' | ' | 2.30% | 3.25% | 2.30% | 3.00% |
Line of Credit Facility, Collateral Fees, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 178,000,000 | ' | ' | 144,000,000 | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Commitment Fee Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | ' | 40.00% | ' | ' | ' | ' | ' |
Line of Credit Facility, Amortization Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '18 years | ' | ' | '18 years | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Increase (Decrease) for Period, Net | ' | ' | ' | ' | ' | ' | ' | 1,400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gains (Losses) on Extinguishment of Debt | $0 | $0 | ($80,510,000) | ($15,098,000) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LongTerm_Debt_2013_Liquefactio
Long-Term Debt - 2013 Liquefaction Credit Facility (Details) (USD $) | 4 Months Ended |
Sep. 30, 2013 | |
Sabine Pass Liquefaction [Member] | 2021 Sabine Pass Liquefaction Notes [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Debt Instrument, Interest Rate, Stated Percentage | 5.63% |
Sabine Pass Liquefaction [Member] | 2013 Sabine Pass Liquefaction Credit Facility [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Line of credit borrowing capacity | $5,900,000,000 |
Line of Credit Facility, Amount Outstanding | 100,000,000 |
Liquefaction Credit Facility | 2013 Sabine Pass Liquefaction Credit Facility [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Debt Instrument, Description of Variable Rate Basis | 'LIBOR |
Line of Credit Facility, Collateral Fees, Amount | $144,000,000 |
Line of Credit Facility, Amortization Period | '18 years |
Percentage of Debt Hedged by Interest Rate Derivatives | 75.00% |
Liquefaction Credit Facility | 2013 Liquifaction Credit Facility - LIBOR Loans [Member] [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Line of Credit Facility, Commitment Fee Percentage | 40.00% |
Construction [Member] | Minimum [Member] | 2013 Liquifaction Credit Facility - LIBOR Loans [Member] [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Debt Instrument, Basis Spread on Variable Rate | 2.30% |
Construction [Member] | Maximum [Member] | 2013 Liquifaction Credit Facility - LIBOR Loans [Member] [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Debt Instrument, Basis Spread on Variable Rate | 3.00% |
Operations [Member] | Minimum [Member] | 2013 Liquifaction Credit Facility - LIBOR Loans [Member] [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Debt Instrument, Basis Spread on Variable Rate | 2.30% |
Operations [Member] | Maximum [Member] | 2013 Liquifaction Credit Facility - LIBOR Loans [Member] [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Debt Instrument, Basis Spread on Variable Rate | 3.25% |
LongTerm_Debt_2012_Liquefactio
Long-Term Debt - 2012 Liquefaction Credit Facility (Details) (USD $) | 3 Months Ended | 9 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | ||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Apr. 30, 2013 | Jul. 31, 2012 | Sep. 30, 2013 | Aug. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jul. 31, 2012 | Sep. 30, 2013 | Jul. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | |
2012 Liquefaction Credit Facility [Member] | 2012 Liquefaction Credit Facility [Member] | 2012 Liquefaction Credit Facility [Member] | 2012 Liquefaction Credit Facility [Member] | Senior Secured Notes Due 2021 [Member] | Senior Secured Notes Due 2021 [Member] | Sabine Pass Liquefaction Notes due 2023 [Member] | Liquefaction Credit Facility | Liquefaction Credit Facility | Liquefaction Credit Facility | Construction [Member] | Operations [Member] | Debt Service Reserve Fund [Member] | |||||
Sabine Pass Liquefaction [Member] | Sabine Pass Liquefaction [Member] | Sabine Pass Liquefaction [Member] | Sabine Pass Liquefaction [Member] | Sabine Pass Liquefaction [Member] | Sabine Pass Liquefaction [Member] | 2012 Liquefaction Credit Facility [Member] | 2012 Liquefaction Credit Facility [Member] | 2012 Liquifaction Credit Facility - LIBOR Loans [Member] | 2012 Liquifaction Credit Facility - LIBOR Loans [Member] | 2012 Liquifaction Credit Facility - LIBOR Loans [Member] | Acquisition of Non-current Assets [Member] | ||||||
2012 Liquefaction Credit Facility [Member] | |||||||||||||||||
Sabine Pass Liquefaction [Member] | |||||||||||||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit borrowing capacity | ' | ' | ' | ' | ' | $3,600,000,000 | $5,900,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Maturity Date | ' | ' | ' | ' | ' | 31-Jul-19 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | ' | ' | ' | ' | ' | ' | ' | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 100,000,000 |
Debt Instrument, Description of Variable Rate Basis | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'LIBOR | ' | ' | ' | ' | ' |
Line of Credit Facility, Amortization Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '18 years | ' | ' | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.50% | 3.75% | ' |
Line of Credit Facility, Collateral Fees, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 178,000,000 | ' | ' | ' | ' | ' |
Line of Credit Facility, Commitment Fee Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | ' | ' | ' |
Percentage of Debt Hedged by Interest Rate Derivatives | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | ' | ' | ' | ' |
Debt instrument principal amount | ' | ' | ' | ' | ' | ' | ' | ' | 500,000,000 | 2,000,000,000 | 1,000,000,000 | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Increase (Decrease) for Period, Net | ' | ' | ' | ' | 1,400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gains (Losses) on Extinguishment of Debt | $0 | $0 | ($80,510,000) | ($15,098,000) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LongTerm_Debt_CTPL_Credit_Faci
Long-Term Debt - CTPL Credit Facility (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 |
Creole Trail Pipeline Credit Facility [Member] | Creole Trail Pipeline Credit Facility [Member] | Creole Trail Pipeline Credit Facility - LIBOR Loans [Member] | Cheniere Creole Trail Pipeline LP [Member] | |
Creole Trail Pipeline Credit Facility [Member] | ||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' |
Debt instrument principal amount | ' | ' | ' | $400,000,000 |
Debt Instrument, Unamortized Discount | ($8,336,000) | $0 | ' | $10,000,000 |
Debt Instrument, Description of Variable Rate Basis | ' | ' | 'LIBOR | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | 3.25% | ' |
Financial_Instruments_Fair_Val
Financial Instruments - Fair Value of Derivative Assets and Liabilities (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative, Collateral, Right to Reclaim Cash | $6,100 | $5,900 |
LNG Inventory Derivatives [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative, Collateral, Right to Reclaim Cash | 0 | 0 |
Derivative Asset, Fair Value, Net | 186 | 237 |
LNG Inventory Derivatives [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative Assets, Current | 0 | 0 |
LNG Inventory Derivatives [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative Assets, Current | 186 | 237 |
LNG Inventory Derivatives [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative Assets, Current | 0 | 0 |
LNG Inventory Derivatives [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative Assets, Current | 186 | 237 |
Fuel Derivatives [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative Liability, Fair Value, Net | 0 | 0 |
Derivative, Collateral, Right to Reclaim Cash | 0 | 0 |
Fuel Derivatives [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative Liabilities, Current | -283 | -98 |
Fuel Derivatives [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative Liabilities, Current | 0 | 0 |
Fuel Derivatives [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative Liabilities, Current | 0 | 0 |
Fuel Derivatives [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative Liabilities, Current | -283 | -98 |
Interest Rate Contract [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative Liability, Fair Value, Net | ' | 0 |
Derivative Asset, Fair Value, Net | 0 | ' |
Interest Rate Contract [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative Liability, Fair Value, Net | ' | -26,424 |
Interest Rate Contract [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative Liability, Fair Value, Net | ' | 0 |
Derivative Asset, Fair Value, Net | 0 | ' |
Interest Rate Contract [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative Liability, Fair Value, Net | ' | -26,424 |
Other Liabilities [Member] | LNG Inventory Derivatives [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative Assets, Current | 186 | ' |
Other Liabilities [Member] | Fuel Derivatives [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative Liabilities, Current | ' | -98 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative Liability, Fair Value, Net | -8,270 | -5,134 |
Derivative, Collateral, Right to Reclaim Cash | 0 | 0 |
Derivative Asset, Fair Value, Net | 64,309 | ' |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative Asset, Fair Value, Net | 56,039 | ' |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative Asset, Fair Value, Net | $56,039 | ' |
Financial_Instruments_Fair_Val1
Financial Instruments - Fair Value of Financial Instruments by Balance Sheet Location (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 |
LNG Inventory Derivatives [Member] | LNG Inventory Derivatives [Member] | LNG Inventory Derivatives [Member] | LNG Inventory Derivatives [Member] | LNG Inventory Derivatives [Member] | Fuel Derivatives [Member] | Fuel Derivatives [Member] | Fuel Derivatives [Member] | Fuel Derivatives [Member] | Fuel Derivatives [Member] | Fuel Derivatives [Member] | Fuel Derivatives [Member] | Fuel Derivatives [Member] | |||||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Other Current Liabilities [Member] | Prepaid Expenses And Other [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Other Current Liabilities [Member] | Prepaid Expenses And Other [Member] | ||||||||||
Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||||||||
Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | ||||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative gain (loss) | ($22,335) | $287 | $55,706 | ($288) | $14 | ' | ' | ' | ' | ($55) | $287 | ($3) | ($288) | ' | ' | ' | ' |
Derivative Assets, Current | ' | ' | ' | ' | ' | 186 | 237 | 186 | 237 | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative Liabilities, Current | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($283) | ($98) | ($98) | ($283) |
Financial_Instruments_Fair_Val2
Financial Instruments - Fair Value and Settlements of Derivatives (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Derivative [Line Items] | ' | ' | ' | ' | ' |
Derivative, Collateral, Right to Reclaim Cash | $6,100,000 | ' | $6,100,000 | ' | $5,900,000 |
Derivative gain (loss) | -22,335,000 | 287,000 | 55,706,000 | -288,000 | ' |
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Net of Tax | 0 | 0 | -30,000 | 0 | ' |
Interest Rate Contract [Member] | ' | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | ' | ' | 0 | 0 | ' |
Derivative gain (loss) recognized in income (ineffective portion and amount excluded from Effectiveness Testing) | ' | ' | -167,000 | 0 | ' |
Fuel Derivatives [Member] | ' | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' | ' |
Derivative, Collateral, Right to Reclaim Cash | 0 | ' | 0 | ' | 0 |
Derivative gain (loss) | -55,000 | 287,000 | -3,000 | -288,000 | ' |
LNG Inventory Derivatives [Member] | ' | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' | ' |
Derivative, Collateral, Right to Reclaim Cash | 0 | ' | 0 | ' | 0 |
Derivative gain (loss) | 14,000 | ' | ' | ' | ' |
Cheniere Energy Investments, LLC [Member] | LNG Inventory Derivatives [Member] | ' | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' | ' |
Derivative gain (loss) | ' | -265,000 | -394,000 | 599,000 | ' |
Sabine Pass Liquefaction [Member] | LNG Inventory Derivatives [Member] | ' | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' | ' |
Derivative gain (loss) | 201,000 | 0 | 976,000 | 0 | ' |
Cheniere Marketing, LLC [Member] | Fuel Derivatives [Member] | ' | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' | ' |
Derivative gain (loss) | -57,000 | 0 | -57,000 | 0 | ' |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ' | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' | ' |
Derivative, Collateral, Right to Reclaim Cash | 0 | ' | 0 | ' | 0 |
Not Designated as Hedging Instrument [Member] | Sabine Pass Liquefaction [Member] | Interest Rate Contract [Member] | ' | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' | ' |
Notional Amount of Interest Rate Derivatives | 0 | ' | 0 | ' | ' |
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ' | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' | ' |
Derivative gain (loss) in Other Comprehensive Income | 0 | -29,676,000 | 21,297,000 | -29,676,000 | ' |
Derivative, Collateral, Right to Reclaim Cash | ' | ' | ' | ' | 0 |
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | 0 | 0 | 0 | 0 | ' |
Derivative gain (loss) recognized in income (ineffective portion and amount excluded from Effectiveness Testing) | 0 | 0 | -5,806,000 | 0 | ' |
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Net of Tax | ' | ' | ($30,000) | $0 | ' |
Financial_Instruments_Notional
Financial Instruments - Notional Amounts of Derivative Instruments (Details) (Sabine Pass Liquefaction [Member], Interest Rate Contract [Member], Not Designated as Hedging Instrument [Member], USD $) | Sep. 30, 2013 |
In Billions, unless otherwise specified | |
Derivative [Line Items] | ' |
Notional Amount of Interest Rate Derivatives | $0 |
Derivative, Average Fixed Interest Rate | 1.98% |
Maximum [Member] | ' |
Derivative [Line Items] | ' |
Notional Amount of Interest Rate Derivatives | $0 |
Effective Date June 5, 2013 [Domain] | ' |
Derivative [Line Items] | ' |
Derivative, Average Fixed Interest Rate | 2.05% |
Financial_Instruments_Fair_Val3
Financial Instruments - Fair Value of Interest Rate Derivatives by Balance Sheet Location (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Other Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Interest Rate Derivative Liabilities, at Fair Value | $0 | $21,290 |
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Non-current Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Interest Rate Derivative Liabilities, at Fair Value | 0 | 5,134 |
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Noncurrent Derivative Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Interest Rate Derivative Assets, at Fair Value | 64,309 | 0 |
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Interest Rate Derivative Liabilities, at Fair Value | $8,270 | $0 |
2012 Liquefaction Credit Facility [Member] | Liquefaction Credit Facility | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Percentage of Debt Hedged by Interest Rate Derivatives | 75.00% | ' |
Financial_Instruments_Interest
Financial Instruments - Interest Rate Derivatives Market Adjustments (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Net of Tax | $0 | $0 | ($30) | $0 |
Interest Rate Contract [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | ' | ' | 0 | 0 |
Derivative gain (loss) recognized in income (ineffective portion and amount excluded from Effectiveness Testing) | ' | ' | -167 | 0 |
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative gain (loss) in Other Comprehensive Income | 0 | -29,676 | 21,297 | -29,676 |
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | 0 | 0 | 0 | 0 |
Derivative gain (loss) recognized in income (ineffective portion and amount excluded from Effectiveness Testing) | 0 | 0 | -5,806 | 0 |
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Net of Tax | ' | ' | -30 | 0 |
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | ($22,481) | $0 | $60,707 | $0 |
Financial_Instruments_Changes_
Financial Instruments - Changes in Fair Value of De-Designated Interest Rate Derivatives (Details) (Not Designated as Hedging Instrument [Member], Interest Rate Contract [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | ($22,481) | $0 | $60,707 | $0 |
Financial_Instruments_Derivati
Financial Instruments - Derivatives Gross Presentation on Condsolidated Balance Sheet (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivative [Line Items] | ' | ' |
Derivative, Collateral, Right to Reclaim Cash | $6,100 | $5,900 |
Fuel Derivatives [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative, Fair Value, Gross Amount Not Offset Against Collateral, Net | 0 | 0 |
Derivative Liability, Fair Value, Amount Offset Against Collateral | -283 | -98 |
Derivative Liability, Fair Value, Net | 0 | 0 |
Derivative, Collateral, Right to Reclaim Cash | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability | -283 | -98 |
LNG Inventory Derivatives [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Asset, Fair Value, Gross Asset | 186 | 237 |
Derivative Asset, Fair Value, Amount Offset Against Collateral | ' | 0 |
Derivative Asset, Fair Value, Net | 186 | 237 |
Derivative, Fair Value, Gross Amount Not Offset Against Collateral, Net | 0 | 0 |
Derivative, Collateral, Right to Reclaim Cash | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Contract [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Liability, Fair Value, Net | ' | -26,424 |
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative, Fair Value, Gross Amount Not Offset Against Collateral, Net | ' | 0 |
Derivative Liability, Fair Value, Amount Offset Against Collateral | ' | 0 |
Derivative Liability, Fair Value, Net | ' | -21,290 |
Derivative, Collateral, Right to Reclaim Cash | ' | 0 |
Derivative Liability, Fair Value, Gross Liability | ' | -21,290 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Asset, Fair Value, Gross Asset | 64,309 | ' |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 0 | ' |
Derivative Asset, Fair Value, Net | 64,309 | ' |
Derivative, Fair Value, Gross Amount Not Offset Against Collateral, Net | 0 | 0 |
Derivative Liability, Fair Value, Amount Offset Against Collateral | 0 | 0 |
Derivative Liability, Fair Value, Net | -8,270 | -5,134 |
Derivative, Collateral, Right to Reclaim Cash | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability | -8,270 | -5,134 |
Not Designated as Hedging Instrument [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Contract [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Asset, Fair Value, Net | $56,039 | ' |
Financial_Instruments_Fair_Val4
Financial Instruments - Fair Value of Other Financial Instruments (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Carrying (Reported) Amount, Fair Value Disclosure [Member] | 2016 Senior Notes [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Notes Payable, Fair Value Disclosure | $1,650,634 | [1] | $1,647,113 | [1] |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | 2020 Notes | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Notes Payable, Fair Value Disclosure | 420,000 | [1] | 420,000 | [1] |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | 2021 Sabine Pass Liquefaction Notes [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Notes Payable, Fair Value Disclosure | 2,011,897 | [1] | 0 | [1] |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Sabine Pass Liquefaction Notes due 2023 [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Lines of Credit, Fair Value Disclosure | 1,000,000 | [1] | 0 | [1] |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | 2012 Liquefaction Credit Facility [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Lines of Credit, Fair Value Disclosure | 0 | [2] | 100,000 | [2] |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | 2013 Sabine Pass Liquefaction Credit Facility [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Lines of Credit, Fair Value Disclosure | 100,000 | [2] | 0 | [2] |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Creole Trail Pipeline Credit Facility [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Lines of Credit, Fair Value Disclosure | 391,665 | [3] | 0 | [3] |
Estimate of Fair Value, Fair Value Disclosure [Member] | 2016 Senior Notes [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Notes Payable, Fair Value Disclosure | 1,811,570 | [1] | 1,824,177 | [1] |
Estimate of Fair Value, Fair Value Disclosure [Member] | 2020 Notes | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Notes Payable, Fair Value Disclosure | 425,250 | [1] | 437,850 | [1] |
Estimate of Fair Value, Fair Value Disclosure [Member] | 2021 Sabine Pass Liquefaction Notes [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Notes Payable, Fair Value Disclosure | 1,951,540 | [1] | 0 | [1] |
Estimate of Fair Value, Fair Value Disclosure [Member] | Sabine Pass Liquefaction Notes due 2023 [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Lines of Credit, Fair Value Disclosure | 952,500 | 0 | [1] | |
Estimate of Fair Value, Fair Value Disclosure [Member] | 2012 Liquefaction Credit Facility [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Lines of Credit, Fair Value Disclosure | 0 | [2] | 100,000 | [2] |
Estimate of Fair Value, Fair Value Disclosure [Member] | 2013 Sabine Pass Liquefaction Credit Facility [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Lines of Credit, Fair Value Disclosure | 100,000 | [2] | 0 | [2] |
Estimate of Fair Value, Fair Value Disclosure [Member] | Creole Trail Pipeline Credit Facility [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Lines of Credit, Fair Value Disclosure | $400,000 | [3] | $0 | [3] |
[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 SeptemberB 30, 2013 and December 31, 2012, as applicable. | |||
[2] | The Level 3 estimated fair value approximates the carrying amount because the interest rates are variable and reflective of market rates and Sabine Pass Liquefaction has the ability to call this debt at anytime without penalty. | |||
[3] | The Level 3 estimated fair value approximates the principal amount because the interest rates are variable and reflective of market rates and CTPL has the ability to call this debt at anytime without penalty. |
Income_Taxes_Provision_for_Inc
Income Taxes - Provision for Income Taxes (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Income tax benefit (provision) | ($1,809) | ($61) | ($2,751) | ($211) |
Net_Loss_Per_Share_Attributabl1
Net Loss Per Share Attributable to Common Stockholders (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Weighted average number of common shares outstanding - basic and diluted | 220,734,000 | 208,712,000 | 217,940,000 | 170,414,000 |
Weighted average common shares outstanding - Basic | ' | 208,712,000 | ' | 170,414,000 |
Weighted average common shares outstanding - Common stock options | 0 | 0 | 0 | 0 |
Weighted average common shares outstanding - Diluted | $220,734,000 | $208,712,000 | $217,940,000 | $170,414,000 |
basic and diluted net loss per share attributable to common stockholders (US$ per share) | ($0.46) | ($0.52) | ($1.71) | ($1.40) |
Stock options, warrants and unvested stock [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share | 18,300,000 | 5,600,000 | 16,500,000 | 3,100,000 |
ShareBased_Compensation_Detail
Share-Based Compensation (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Allocated Share-based Compensation Expense | $26.70 | $49.80 | $202.80 | $54 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount | 1.3 | 2.2 | 8.6 | 2.2 |
Proceeds from Stock Options Exercised | ' | ' | 0.3 | 0.8 |
1997 Plan and 2003 Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | $283.70 | ' | $283.70 | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Recognition Period | ' | ' | '5 years 6 months | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | '3 years 4 months 25 days | ' |
Payment of 60% of total cost for EPC Contract (Train 3 and Train 4) [Member] | Long Term Commercial Milestone Bonus Award for Train 3 and Train 4 [Member] | Common Stock | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Percentage | 20.00% | ' | 20.00% | ' |
Percentage of total cost of the EPC Contract (Train 3 and Train 4) | 60.00% | ' | 60.00% | ' |
Substantial completion of construction of Train 4 [Member] | Long Term Commercial Milestone Bonus Award for Train 3 and Train 4 [Member] | Common Stock | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Percentage | 20.00% | ' | 20.00% | ' |
First anniversary of substantial completion of construction of Train 4 [Member] | Long Term Commercial Milestone Bonus Award for Train 3 and Train 4 [Member] | Common Stock | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Percentage | 30.00% | ' | 30.00% | ' |
Average 120-day closing stock price is $25 [Member] | Long Term Commercial Stock Price Bonus Award for Train 3 and Train 4 [Member] | Common Stock | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share Price | $25 | ' | $25 | ' |
Average 120-day closing stock price is $25 [Member] | Long Term Commercial Stock Price Bonus Award for Train 1 and Train 2 [Domain] | Common Stock | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Percentage | 50.00% | ' | 50.00% | ' |
Average 120-day closing stock price is $35 [Member] | Long Term Commercial Stock Price Bonus Award for Train 3 and Train 4 [Member] | Common Stock | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share Price | $35 | ' | $35 | ' |
First performance milestone achieved upon closing of 2013 Sabine Pass Liquefaction Credit Facilities [Member] | Long Term Commercial Milestone Bonus Award for Train 3 and Train 4 [Member] | Common Stock | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Percentage | 30.00% | ' | 30.00% | ' |
Business_Segment_Information_D
Business Segment Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Segment Reporting, Measurement Disclosures [Abstract] | ' | ' | ' | ' | ' |
Revenues | $67,710 | $65,998 | $200,793 | $198,799 | ' |
Depreciation, depletion and amortization | 15,246 | 15,233 | 45,533 | 47,001 | ' |
Income (loss) from operations | -45,876 | -54,517 | -249,608 | -59,917 | ' |
Interest expense, net | -52,528 | -45,504 | -134,806 | -159,719 | ' |
Loss before income taxes and non-controlling interest | -120,674 | -111,815 | -408,264 | -246,522 | ' |
Goodwill | 76,819 | ' | 76,819 | ' | 76,819 |
Total assets | 8,125,853 | ' | 8,125,853 | ' | 4,639,085 |
Cheniere Energy Partners, LP [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Ownership Interest | 57.90% | ' | 57.90% | ' | ' |
LNG terminal [Member] | Corpus Christi LNG [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Business segment ownership percentage | 100.00% | ' | 100.00% | ' | ' |
LNG terminal [Member] | Creole Trail LNG [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Business segment ownership percentage | 100.00% | ' | 100.00% | ' | ' |
LNG terminal [Member] | Sabine Pass LNG terminal [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Storage Capacity | ' | ' | 16.9 | ' | ' |
Volume of vessel | 265,000 | ' | 265,000 | ' | ' |
Regasification capacity | 4 | ' | 4 | ' | ' |
LNG terminal business [Member] | ' | ' | ' | ' | ' |
Segment Reporting, Measurement Disclosures [Abstract] | ' | ' | ' | ' | ' |
Revenues | 67,558 | 69,868 | 201,408 | 206,249 | ' |
Intersegment revenues (losses) | -820 | -3,929 | -2,184 | -6,973 | ' |
Depreciation, depletion and amortization | 14,581 | 14,566 | 43,405 | 43,810 | ' |
Non-cash compensation | 3,148 | 6,505 | 22,477 | 6,964 | ' |
Income (loss) from operations | -49,600 | -16,446 | -103,655 | 7,237 | ' |
Interest expense, net | 55,378 | 55,333 | 156,644 | 165,251 | ' |
Loss before income taxes and non-controlling interest | -127,202 | -71,335 | 128,441 | -158,016 | ' |
Goodwill | 76,819 | 76,819 | 76,819 | 76,819 | ' |
Total assets | 7,719,551 | 4,136,574 | 7,719,551 | 4,136,574 | ' |
Expenditures for additions to long-lived assets | 852,847 | 883,798 | 2,467,210 | 931,542 | ' |
LNG terminal business [Member] | Cheniere Marketing, LLC [Member] | ' | ' | ' | ' | ' |
Segment Reporting, Measurement Disclosures [Abstract] | ' | ' | ' | ' | ' |
Proceeds (payments) of gross margin earned, percentage | ' | ' | 80.00% | ' | ' |
LNG and natural gas marketing business [Member] | ' | ' | ' | ' | ' |
Segment Reporting, Measurement Disclosures [Abstract] | ' | ' | ' | ' | ' |
Revenues | 16,470 | 2,661 | 27,627 | 977 | ' |
Intersegment revenues (losses) | -15,880 | -2,953 | -27,186 | -2,618 | ' |
Depreciation, depletion and amortization | 251 | 256 | 751 | 1,815 | ' |
Non-cash compensation | 4,594 | 9,256 | 36,234 | 10,657 | ' |
Income (loss) from operations | 2,919 | -16,462 | -39,543 | -31,788 | ' |
Interest expense, net | 0 | -12 | 0 | -12 | ' |
Loss before income taxes and non-controlling interest | 2,515 | 418,655 | -40,092 | 403,369 | ' |
Goodwill | 0 | 0 | 0 | 0 | ' |
Total assets | 63,756 | 42,308 | 63,756 | 42,308 | ' |
Expenditures for additions to long-lived assets | 61 | -6 | 57 | 1,659 | ' |
LNG and natural gas marketing business [Member] | Cheniere Marketing, LLC [Member] | ' | ' | ' | ' | ' |
Segment Reporting, Measurement Disclosures [Abstract] | ' | ' | ' | ' | ' |
Proceeds (payments) of gross margin earned, percentage | ' | ' | 80.00% | ' | ' |
Corporate and Other [Member] | ' | ' | ' | ' | ' |
Segment Reporting, Measurement Disclosures [Abstract] | ' | ' | ' | ' | ' |
Revenues | -16,318 | -6,531 | -28,242 | -8,427 | ' |
Intersegment revenues (losses) | 16,700 | 6,882 | 29,370 | 9,591 | ' |
Depreciation, depletion and amortization | 414 | 411 | 1,377 | 1,376 | ' |
Non-cash compensation | 20,197 | 36,104 | 152,635 | 38,492 | ' |
Income (loss) from operations | 805 | -21,609 | -106,410 | -35,366 | ' |
Interest expense, net | -2,850 | -9,817 | -21,838 | -5,520 | ' |
Loss before income taxes and non-controlling interest | 4,013 | -459,135 | -496,613 | -491,875 | ' |
Goodwill | 0 | 0 | 0 | 0 | ' |
Total assets | 342,546 | 204,843 | 342,546 | 204,843 | ' |
Expenditures for additions to long-lived assets | 389 | 696 | 1,293 | 1,192 | ' |
Consolidated Entities [Member] | ' | ' | ' | ' | ' |
Segment Reporting, Measurement Disclosures [Abstract] | ' | ' | ' | ' | ' |
Revenues | 67,710 | 65,998 | 200,793 | 198,799 | ' |
Intersegment revenues (losses) | 0 | 0 | 0 | 0 | ' |
Depreciation, depletion and amortization | 15,246 | 15,233 | 45,533 | 47,001 | ' |
Non-cash compensation | 27,939 | 51,865 | 211,346 | 56,113 | ' |
Income (loss) from operations | -45,876 | -54,517 | -249,608 | -59,917 | ' |
Interest expense, net | -52,528 | -45,504 | -134,806 | -159,719 | ' |
Loss before income taxes and non-controlling interest | -120,674 | -111,815 | -408,264 | -246,522 | ' |
Goodwill | 76,819 | 76,819 | 76,819 | 76,819 | ' |
Total assets | 8,125,853 | 4,383,725 | 8,125,853 | 4,383,725 | ' |
Expenditures for additions to long-lived assets | $853,297 | $884,488 | $2,468,560 | $934,393 | ' |
Supplemental_Cash_Flow_Informa2
Supplemental Cash Flow Information (Details) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Supplemental Cash Flow Information [Abstract] | ' | ' |
Cash paid during the year for interest, net of amounts capitalized | $56,428 | $117,190 |
LNG terminal costs funded with accounts payable and accrued liabilities | $80,557 | $52,830 |