2013 Q1 Form 10-K Financial Statement

#000138365013000017 Filed on February 22, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 2011 Q4
Revenue $66.11M $264.5M $70.82M
YoY Change -4.68% -6.83% -1.77%
Cost Of Revenue $15.20M $51.80M $9.100M
YoY Change 56.7% 53.71% -8.08%
Gross Profit $50.90M $212.6M $61.70M
YoY Change -14.6% -14.96% -0.8%
Gross Profit Margin 77.0% 80.38% 87.12%
Selling, General & Admin $27.00M $66.20M $7.000M
YoY Change 225.3% 154.62% 14.75%
% of Gross Profit 53.05% 31.14% 11.35%
Research & Development $3.484M $37.56M $7.000M
YoY Change -79.1% 15.75% 45.83%
% of Gross Profit 6.84% 17.67% 11.35%
Depreciation & Amortization $14.30M $57.79M $10.70M
YoY Change 34.58% -0.16% 0.94%
% of Gross Profit 28.1% 27.18% 17.34%
Operating Expenses $60.44M $226.3M $24.70M
YoY Change 36.02% 39.83% 14.88%
Operating Profit $5.670M $38.25M $37.04M
YoY Change -70.41% -68.67% -8.98%
Interest Expense $40.26M $171.6M -$44.60M
YoY Change -7.35% -1.12% 2.76%
% of Operating Profit 710.09% 448.81% -120.4%
Other Income/Expense, Net -$57.40M -$213.7M $100.0K
YoY Change 29.8% 21.65% 0.0%
Pretax Income -$51.70M -$150.1M -$7.500M
YoY Change 105.98% 384.19% 177.78%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$51.73M -$175.4M -$7.463M
YoY Change 106.42% 227.54% 176.41%
Net Earnings / Revenue -78.26% -66.33% -10.54%
Basic Earnings Per Share
Diluted Earnings Per Share -$164.5K -$707.4K -$45.10K
COMMON SHARES
Basic Shares Outstanding 39.49M shares 31.00M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q1 2012 2011 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $457.0M $419.0M $81.00M
YoY Change 674.58% 417.28% 52.83%
Cash & Equivalents $456.9M $419.0M $81.42M
Short-Term Investments
Other Short-Term Assets $260.0M $99.00M $22.00M
YoY Change 300.0% 350.0% 15.79%
Inventory $2.157M $7.000M $473.0K
Prepaid Expenses
Receivables $170.0K $7.000M $525.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $732.9M $533.0M $109.5M
YoY Change 439.61% 384.55% 39.23%
LONG-TERM ASSETS
Property, Plant & Equipment $3.242B $2.705B $1.514B
YoY Change 115.44% 78.67% -2.33%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $22.25M $511.0M $13.36M
YoY Change -2.37% 352.21% 33.9%
Total Long-Term Assets $4.977B $3.215B $1.628B
YoY Change 205.97% 97.6% -2.23%
TOTAL ASSETS
Total Short-Term Assets $732.9M $533.0M $109.5M
Total Long-Term Assets $4.977B $3.215B $1.628B
Total Assets $5.710B $3.748B $1.737B
YoY Change 223.97% 115.77% -0.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.95M $75.00M $704.0K
YoY Change 2266.19% 7400.0% -34.33%
Accrued Expenses $218.4M $53.00M $16.75M
YoY Change 216.89% 152.38% -6.15%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $284.5M $155.0M $51.82M
YoY Change 173.31% 198.08% -0.61%
LONG-TERM LIABILITIES
Long-Term Debt $3.668B $2.167B $2.192B
YoY Change 67.23% -1.14% 0.21%
Other Long-Term Liabilities $300.0K $63.00M $317.0K
YoY Change -4.15% 65.79% -3.65%
Total Long-Term Liabilities $3.669B $2.230B $2.193B
YoY Change 67.22% 0.0% 0.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $284.5M $155.0M $51.82M
Total Long-Term Liabilities $3.669B $2.230B $2.193B
Total Liabilities $3.953B $2.385B $2.245B
YoY Change 72.02% 4.51% 0.19%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.697B $1.363B -$545.0M
YoY Change
Total Liabilities & Shareholders Equity $5.710B $3.748B $1.737B
YoY Change 223.97% 115.77% -0.36%

Cashflow Statement

Concept 2013 Q1 2012 2011 Q4
OPERATING ACTIVITIES
Net Income -$51.73M -$175.4M -$7.463M
YoY Change 106.42% 227.54% 176.41%
Depreciation, Depletion And Amortization $14.30M $57.79M $10.70M
YoY Change 34.58% -0.16% 0.94%
Cash From Operating Activities $2.267M -$37.74M $1.600M
YoY Change -122.93% -651.77% -82.42%
INVESTING ACTIVITIES
Capital Expenditures $465.0M $1.119B -$7.100M
YoY Change 112229.47% 15031.01% 42.0%
Acquisitions $0.00
YoY Change
Other Investing Activities $790.0K $740.0K $6.000M
YoY Change -29.96% -29.79% 66.67%
Cash From Investing Activities -$2.532M -$4.785M -$1.100M
YoY Change 64.2% -43.36% -21.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $550.0M
YoY Change
Cash From Financing Activities $37.83M $380.4M -13.70M
YoY Change -458.8% 1181.94% 19.13%
NET CHANGE
Cash From Operating Activities $2.267M -$37.74M 1.600M
Cash From Investing Activities -$2.532M -$4.785M -1.100M
Cash From Financing Activities $37.83M $380.4M -13.70M
Net Change In Cash $37.56M $337.9M -13.20M
YoY Change -270.95% 1103.87% 247.37%
FREE CASH FLOW
Cash From Operating Activities $2.267M -$37.74M $1.600M
Capital Expenditures $465.0M $1.119B -$7.100M
Free Cash Flow -$462.8M -$1.157B $8.700M
YoY Change 4392.54% 208659.57% -38.3%

Facts In Submission

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Concentration of Credit Risk</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Financial instruments that potentially subject us to a concentration of credit risk consist principally of cash and cash equivalents and restricted cash. We maintain cash balances at financial institutions, which may at times be in excess of federally insured levels. We have not incurred losses related to these balances to date.</font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The use of derivative instruments exposes us to counterparty credit risk, or the risk that a counterparty will be unable to meet its commitments. 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. Collateral deposited for such contracts is recorded as an other current asset and not netted within the derivative fair value. Our interest rate derivative instruments are placed with investment grade financial institutions whom we believe are acceptable credit risks. We monitor counterparty creditworthiness on an ongoing basis; however, we cannot predict sudden changes in counterparties&#8217; creditworthiness. In addition, even if such changes are not sudden, we may be limited in our ability to mitigate an increase in counterparty credit risk. Should one of these counterparties not perform, we may not realize the benefit of some of our derivative instruments.</font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Sabine Pass LNG has entered into certain long-term TUAs with unaffiliated third parties for regasification capacity at our Sabine Pass LNG terminal. We are dependent on the respective counterparties&#8217; creditworthiness and their willingness to perform under their respective TUAs. We have mitigated this credit risk by securing TUAs for a significant portion of our regasification capacity with creditworthy third-party customers with a minimum Standard&#160;&amp; Poor&#8217;s rating of AA.</font></div></div>
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CY2012 us-gaap Nature Of Operations
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NATURE OF OPERATIONS</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cheniere Energy Partners, L.P. ("Cheniere Partners") is a publicly-held Delaware limited partnership formed on November 21, 2006. As of December&#160;31, </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2012</font><font style="font-family:inherit;font-size:10pt;">, Cheniere Energy, Inc. ("Cheniere") owned </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">59.5%</font><font style="font-family:inherit;font-size:10pt;"> of the limited partnership through its wholly owned subsidiaries, Cheniere LNG Holdings, LLC ("Holdings"), Cheniere Common Units Holding, LLC ("Cheniere Common Units Holding"), Cheniere Subsidiary Holdings, LLC ("Subsidiary Holdings") and Cheniere Energy Partners GP, LLC ("Cheniere GP"). Cheniere Partners was formed to own and operate the Sabine Pass liquefied natural gas ("LNG") terminal </font><font style="font-family:inherit;font-size:10pt;color:#231f20;">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 </font><font style="font-family:inherit;font-size:10pt;">our wholly owned subsidiary, Sabine Pass LNG, L.P. ("Sabine Pass LNG") that includes </font><font style="font-family:inherit;font-size:10pt;color:#231f20;">existing infrastructure of five LNG storage tanks with capacity of approximately </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">16.9</font><font style="font-family:inherit;font-size:10pt;color:#231f20;"> Bcfe, two docks that can accommodate vessels of up to </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">265,000</font><font style="font-family:inherit;font-size:10pt;color:#231f20;"> cubic meters and vaporizers with regasification capacity of approximately </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">4.0</font><font style="font-family:inherit;font-size:10pt;color:#231f20;"> Bcf/d. </font><font style="font-family:inherit;font-size:10pt;">Approximately one-half of the receiving capacity at the Sabine Pass LNG terminal is contracted to two multinational energy companies. </font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We are developing </font><font style="font-family:inherit;font-size:10pt;color:#231f20;">natural gas liquefaction facilities (the "Liquefaction Project") at the Sabine Pass LNG terminal adjacent to the existing regasification facilities </font><font style="font-family:inherit;font-size:10pt;">through a wholly owned subsidiary, Sabine Pass Liquefaction, LLC ("Sabine Pass Liquefaction". We plan to construct up to six Trains (each in sequence, "Train&#160;1", "Train&#160;2", "Train&#160;3", "Train&#160;4", "Train&#160;5" and "Train&#160;6"), which are in various stages of development. Each Train has a nominal production capacity of approximately </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">4.5</font><font style="font-family:inherit;font-size:10pt;"> mmtpa. </font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Unless the context requires otherwise, references to "Cheniere Partners", "we", "us" and "our" refer to Cheniere Partners and its subsidiaries.</font></div></div>
CY2012 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
368546000 USD
CY2011 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
22008000 USD
CY2010 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-163254000 USD
CY2012 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4455000 USD
CY2010 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5076000 USD
CY2011 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-8191000 USD
CY2010 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
104137000 USD
CY2011 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
14249000 USD
CY2012 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-26214000 USD
CY2010 us-gaap Net Income Loss
NetIncomeLoss
107568000 USD
CY2011 us-gaap Net Income Loss
NetIncomeLoss
-31019000 USD
CY2012 us-gaap Net Income Loss
NetIncomeLoss
-150136000 USD
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
-42422000 USD
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
-24861000 USD
CY2011Q4 us-gaap Net Income Loss
NetIncomeLoss
-7463000 USD
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
-19332000 USD
CY2012Q4 us-gaap Net Income Loss
NetIncomeLoss
-63521000 USD
CY2011Q2 us-gaap Net Income Loss
NetIncomeLoss
-6868000 USD
CY2011Q1 us-gaap Net Income Loss
NetIncomeLoss
-2209000 USD
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
-14479000 USD
CY2011 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-175645000 USD
CY2012 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-213676000 USD
CY2010 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-173229000 USD
CY2012Q4 us-gaap Notional Amount Of Interest Rate Derivatives
NotionalAmountOfInterestRateDerivatives
2900000000 USD
CY2010 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
27069000 USD
CY2011 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
21827000 USD
CY2012 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
35457000 USD
CY2012 us-gaap Operating Expenses
OperatingExpenses
200787000 USD
CY2010 us-gaap Operating Expenses
OperatingExpenses
118485000 USD
CY2011 us-gaap Operating Expenses
OperatingExpenses
139164000 USD
CY2012 us-gaap Operating Income Loss
OperatingIncomeLoss
63540000 USD
CY2011 us-gaap Operating Income Loss
OperatingIncomeLoss
144626000 USD
CY2010 us-gaap Operating Income Loss
OperatingIncomeLoss
280797000 USD
CY2012Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
24891000 USD
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
772000 USD
CY2012Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
19602000 USD
CY2011Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
36932000 USD
CY2011Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
29523000 USD
CY2011Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
37044000 USD
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
18275000 USD
CY2011Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
41127000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
279777000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
9625000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals
OperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentals
112800000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
9462000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
9577000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
9604000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
9625000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
231884000 USD
CY2011Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
262000 USD
CY2012Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
3968000 USD
CY2012Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
17465000 USD
CY2011Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
13358000 USD
CY2012 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-27240000 USD
CY2012 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-27240000 USD
CY2010 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
0 USD
CY2011 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
0 USD
CY2012 us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentOnDerivativesIncludedInNetIncomeNetOfTax
-136000 USD
CY2011 us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentOnDerivativesIncludedInNetIncomeNetOfTax
0 USD
CY2010 us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentOnDerivativesIncludedInNetIncomeNetOfTax
0 USD
CY2010 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
0 USD
CY2012 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-27104000 USD
CY2011 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
0 USD
CY2012Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
98000 USD
CY2011Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
2722000 USD
CY2011Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
317000 USD
CY2012Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
303000 USD
CY2010 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
326000 USD
CY2011 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
196000 USD
CY2012 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
499000 USD
CY2012 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-1373000 USD
CY2010 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
1621000 USD
CY2011 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
486000 USD
CY2011Q4 us-gaap Partners Capital
PartnersCapital
-545019000 USD
CY2012Q4 us-gaap Partners Capital
PartnersCapital
1362808000 USD
CY2010Q4 us-gaap Partners Capital
PartnersCapital
-536008000 USD
CY2009Q4 us-gaap Partners Capital
PartnersCapital
-480327000 USD
CY2012 us-gaap Partners Capital Account Contributions
PartnersCapitalAccountContributions
5663000 USD
CY2012 us-gaap Partners Capital Account Distributions
PartnersCapitalAccountDistributions
-57821000 USD
CY2010 us-gaap Partners Capital Account Distributions
PartnersCapitalAccountDistributions
-163249000 USD
CY2011 us-gaap Partners Capital Account Distributions
PartnersCapitalAccountDistributions
-48149000 USD
CY2012 us-gaap Partners Capital Account Sale Of Units
PartnersCapitalAccountSaleOfUnits
250022000 USD
CY2011 us-gaap Partners Capital Account Sale Of Units
PartnersCapitalAccountSaleOfUnits
70157000 USD
CY2012Q2 us-gaap Partners Capital Account Units Sold In Private Placement
PartnersCapitalAccountUnitsSoldInPrivatePlacement
133300000 shares
CY2007Q1 us-gaap Partners Capital Account Units Sold In Public Offering
PartnersCapitalAccountUnitsSoldInPublicOffering
13500000 shares
CY2010 us-gaap Payments For Advance To Affiliate
PaymentsForAdvanceToAffiliate
-1815000 USD
CY2011 us-gaap Payments For Advance To Affiliate
PaymentsForAdvanceToAffiliate
-2851000 USD
CY2012 us-gaap Payments For Advance To Affiliate
PaymentsForAdvanceToAffiliate
4764000 USD
CY2012 us-gaap Payments For Commissions
PaymentsForCommissions
300000 USD
CY2012 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
740000 USD
CY2010 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
121000 USD
CY2011 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
1054000 USD
CY2012 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
57821000 USD
CY2011 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
48149000 USD
CY2010 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
163249000 USD
CY2012 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
222378000 USD
CY2010 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2011 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2010 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4955000 USD
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1118457000 USD
CY2011 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7137000 USD
CY2012Q4 us-gaap Percentage Of Debt Hedged By Interest Rate Derivatives
PercentageOfDebtHedgedByInterestRateDerivatives
0.75
CY2011Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
7976000 USD
CY2012Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6652000 USD
CY2012 us-gaap Proceeds From Issuance Of Common Limited Partners Units
ProceedsFromIssuanceOfCommonLimitedPartnersUnits
11100000 USD
CY2012Q3 us-gaap Proceeds From Issuance Of Common Limited Partners Units
ProceedsFromIssuanceOfCommonLimitedPartnersUnits
194000000 USD
CY2011 us-gaap Proceeds From Issuance Of Common Limited Partners Units
ProceedsFromIssuanceOfCommonLimitedPartnersUnits
9000000 USD
CY2011Q3 us-gaap Proceeds From Issuance Of Common Limited Partners Units
ProceedsFromIssuanceOfCommonLimitedPartnersUnits
60000000 USD
CY2012Q2 us-gaap Proceeds From Issuance Of Common Limited Partners Units
ProceedsFromIssuanceOfCommonLimitedPartnersUnits
2000000000 USD
CY2012 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
420000000 USD
CY2011 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
CY2010 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
CY2012 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
100000000 USD
CY2011 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
0 USD
CY2010 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
0 USD
CY2011 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
CY2012 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
CY2010 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-5000 USD
CY2012 us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
-1458619000 USD
CY2011 us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
0 USD
CY2010 us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
0 USD
CY2010 us-gaap Proceeds From Sale Of Interest In Partnership Unit
ProceedsFromSaleOfInterestInPartnershipUnit
0 USD
CY2011 us-gaap Proceeds From Sale Of Interest In Partnership Unit
ProceedsFromSaleOfInterestInPartnershipUnit
70157000 USD
CY2012 us-gaap Proceeds From Sale Of Interest In Partnership Unit
ProceedsFromSaleOfInterestInPartnershipUnit
250022000 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2704895000 USD
CY2011Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1514416000 USD
CY2010 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 USD
CY2011 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 USD
CY2012 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
550000000 USD
CY2011 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
32448000 USD
CY2010 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8738000 USD
CY2012 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
37559000 USD
CY2012Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
100000000 USD
CY2011Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
13732000 USD
CY2012Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
92519000 USD
CY2011Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
82394000 USD
CY2012Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
272425000 USD
CY2010 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
130954000 USD
CY2012 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
7973000 USD
CY2011 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
14607000 USD
CY2011 us-gaap Revenues
Revenues
283790000 USD
CY2010 us-gaap Revenues
Revenues
399282000 USD
CY2012 us-gaap Revenues
Revenues
264327000 USD
CY2011Q4 us-gaap Revenues
Revenues
70824000 USD
CY2012Q2 us-gaap Revenues
Revenues
61396000 USD
CY2012Q4 us-gaap Revenues
Revenues
67300000 USD
CY2011Q3 us-gaap Revenues
Revenues
64907000 USD
CY2011Q2 us-gaap Revenues
Revenues
73609000 USD
CY2012Q3 us-gaap Revenues
Revenues
66308000 USD
CY2011Q1 us-gaap Revenues
Revenues
74450000 USD
CY2012Q1 us-gaap Revenues
Revenues
69323000 USD
CY2011Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
17622000 USD
CY2012Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
220949000 USD
CY2010 us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
3030000 USD
CY2012 us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
-211637000 USD
CY2011 us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
-81155000 USD
CY2011 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
195000 USD
CY2012 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
619000 USD
CY2010 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-124000 USD
CY2012 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the consolidated financial statements and the accompanying notes. Actual results could differ from the estimates and assumptions used.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Estimates used in the assessment of impairment of our long-lived assets are the most significant of our estimates.&#160;&#160;There are numerous uncertainties inherent in estimating future cash flows of assets or business segments.&#160;&#160;The accuracy of any cash flow estimate is a function of judgment used in determining the amount of cash flows generated.&#160;&#160;As a result, cash flows may be different from the cash flows that we use to assess impairment of our assets.&#160;&#160;Management reviews its estimates of cash flows on an ongoing basis using historical experience and other factors, including the current economic and commodity price environment.&#160;&#160;Significant negative industry or economic trends, including a significant decline in the market price of our common units, reduced estimates of future cash flows for our business or disruptions to our business could lead to an impairment charge of our long-lived assets, including goodwill and other intangible assets. Our valuation methodology for assessing impairment requires management to make judgments and assumptions based on historical experience and to rely heavily on projections of future operating performance. Projections of future operating results and cash flows may vary significantly from results. In addition, if our analysis results in an impairment of our long-lived assets, we may be required to record a charge to earnings in our consolidated financial statements during a period in which such impairment is determined to exist, which may negatively impact our results of operations.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other items subject to estimates and assumptions include asset retirement obligations, valuations of derivative instruments and collectability of accounts receivable and other assets.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As future events and their effects cannot be determined accurately, actual results could differ significantly from our estimates.</font><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></div>
CY2011 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27910000 shares
CY2010 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
26416000 shares
CY2011Q4 cqp Accrued Interest Expense And Related Fees
AccruedInterestExpenseAndRelatedFees
13732000 USD
CY2012Q4 cqp Accrued Interest Expense And Related Fees
AccruedInterestExpenseAndRelatedFees
16327000 USD
CY2012Q4 cqp Accrued Liabilities Including Due To Related Parties Current
AccruedLiabilitiesIncludingDueToRelatedPartiesCurrent
53194000 USD
CY2011Q4 cqp Accrued Liabilities Including Due To Related Parties Current
AccruedLiabilitiesIncludingDueToRelatedPartiesCurrent
20545000 USD
CY2012Q4 cqp Advances To Affiliate Current
AdvancesToAffiliateCurrent
4987000 USD
CY2011Q4 cqp Advances To Affiliate Current
AdvancesToAffiliateCurrent
692000 USD
CY2012 cqp Amortization Of Beneficial Conversion Feature Of Class B Units
AmortizationOfBeneficialConversionFeatureOfClassBUnits
0 USD
CY2011Q4 cqp Common Unitholders Equity
CommonUnitholdersEquity
-52774000 USD
CY2011Q4 cqp Lng Terminal Costs
LngTerminalCosts
1122000 USD
CY2012Q4 cqp Long Term Debt Including Related Parties Maturities Repayments Of Principal After Year Five
LongTermDebtIncludingRelatedPartiesMaturitiesRepaymentsOfPrincipalAfterYearFive
520000000 USD
CY2012Q4 cqp Long Term Debt Including Related Parties Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtIncludingRelatedPartiesMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0 USD
CY2012Q4 cqp Long Term Debt Including Related Parties Maturities Repayments Of Principal In Year Four And Five
LongTermDebtIncludingRelatedPartiesMaturitiesRepaymentsOfPrincipalInYearFourAndFive
1665500000 USD
CY2012Q4 cqp Long Term Debt Including Related Parties Maturities Repayments Of Principal In Year Two And Three
LongTermDebtIncludingRelatedPartiesMaturitiesRepaymentsOfPrincipalInYearTwoAndThree
0 USD
CY2011Q4 cqp Long Term Debt Including Related Parties Net Of Discount
LongTermDebtIncludingRelatedPartiesNetOfDiscount
2192418000 USD
CY2012Q4 cqp Long Term Debt Including Related Parties Net Of Discount
LongTermDebtIncludingRelatedPartiesNetOfDiscount
2167113000 USD
CY2010 cqp Non Cash Lng Inventory Affiliate Write Downs
NonCashLngInventoryAffiliateWriteDowns
0 USD
CY2011 cqp Non Cash Lng Inventory Affiliate Write Downs
NonCashLngInventoryAffiliateWriteDowns
10600000 USD
CY2012 cqp Non Cash Lng Inventory Affiliate Write Downs
NonCashLngInventoryAffiliateWriteDowns
0 USD
CY2012 cqp Number Of Days After Quarter End Distribution Is Paid
NumberOfDaysAfterQuarterEndDistributionIsPaid
45 USD
CY2008Q1 cqp Number Of Tug Boat Agreement Term Renewals Available
NumberOfTugBoatAgreementTermRenewalsAvailable
2 lease_extension
CY2010 cqp Operating Costs And Expenses Related Parties
OperatingCostsAndExpensesRelatedParties
12090000 USD
CY2012 cqp Operating Costs And Expenses Related Parties
OperatingCostsAndExpensesRelatedParties
16300000 USD
CY2011Q4 cqp Deferred Revenue Related Party Current
DeferredRevenueRelatedPartyCurrent
688000 USD
CY2012Q4 cqp Deferred Revenue Related Party Current
DeferredRevenueRelatedPartyCurrent
696000 USD
CY2011Q4 cqp Deferred Revenue Related Party Noncurrent
DeferredRevenueRelatedPartyNoncurrent
12266000 USD
CY2012Q4 cqp Deferred Revenue Related Party Noncurrent
DeferredRevenueRelatedPartyNoncurrent
14720000 USD
CY2010 cqp General And Administrative Expense Related Parties
GeneralAndAdministrativeExpenseRelatedParties
20275000 USD
CY2012 cqp General And Administrative Expense Related Parties
GeneralAndAdministrativeExpenseRelatedParties
55940000 USD
CY2011 cqp General And Administrative Expense Related Parties
GeneralAndAdministrativeExpenseRelatedParties
20469000 USD
CY2011Q4 cqp General Partner Ownership Interest Percentage
GeneralPartnerOwnershipInterestPercentage
0.02
CY2012Q4 cqp General Partner Ownership Interest Percentage
GeneralPartnerOwnershipInterestPercentage
0.02
CY2012 cqp Increase Decrease In Deferred Revenue Related Parties
IncreaseDecreaseInDeferredRevenueRelatedParties
-8000 USD
CY2011 cqp Increase Decrease In Deferred Revenue Related Parties
IncreaseDecreaseInDeferredRevenueRelatedParties
-15000 USD
CY2010 cqp Increase Decrease In Deferred Revenue Related Parties
IncreaseDecreaseInDeferredRevenueRelatedParties
62833000 USD
CY2012 cqp Increase Decrease In Lng Inventory Affiliate
IncreaseDecreaseInLngInventoryAffiliate
-51000 USD
CY2011 cqp Increase Decrease In Lng Inventory Affiliate
IncreaseDecreaseInLngInventoryAffiliate
-14969000 USD
CY2010 cqp Increase Decrease In Lng Inventory Affiliate
IncreaseDecreaseInLngInventoryAffiliate
0 USD
CY2011 cqp Inventory Write Down Affiliates
InventoryWriteDownAffiliates
10600000 USD
CY2010 cqp Inventory Write Down Affiliates
InventoryWriteDownAffiliates
0 USD
CY2012 cqp Inventory Write Down Affiliates
InventoryWriteDownAffiliates
11000000 USD
CY2011Q4 cqp Lng Inventory Related Party
LngInventoryRelatedParty
4369000 USD
CY2012Q4 cqp Lng Inventory Related Party
LngInventoryRelatedParty
4420000 USD
CY2011Q4 cqp Lng Liquefaction Costs
LngLiquefactionCosts
1635000 USD
CY2012Q4 cqp Lng Liquefaction Costs
LngLiquefactionCosts
26131000 USD
CY2012Q4 cqp Lng Terminal Costs
LngTerminalCosts
977000 USD
CY2011 cqp Operating Costs And Expenses Related Parties
OperatingCostsAndExpensesRelatedParties
11918000 USD
CY2012 cqp Partners Capital Account Sale Of Class B Units
PartnersCapitalAccountSaleOfClassBUnits
1887339000 USD
CY2007Q1 cqp Partners Capital Account Units Sold In Public Offering Unit Price
PartnersCapitalAccountUnitsSoldInPublicOfferingUnitPrice
21.00
CY2012Q3 cqp Partners Capital Account Units Sold In Public Offering Unit Price
PartnersCapitalAccountUnitsSoldInPublicOfferingUnitPrice
15.00
CY2012 cqp Proceeds From Sale Of Class B Units
ProceedsFromSaleOfClassBUnits
1887342000 USD
CY2010 cqp Proceeds From Sale Of Class B Units
ProceedsFromSaleOfClassBUnits
0 USD
CY2011 cqp Proceeds From Sale Of Class B Units
ProceedsFromSaleOfClassBUnits
0 USD
CY2012 cqp Property Lease Term
PropertyLeaseTerm
P90Y
CY2012Q4 cqp Regasification Capacity
RegasificationCapacity
4
CY2011 cqp Research And Development Expense Related Parties
ResearchAndDevelopmentExpenseRelatedParties
4025000 USD
CY2010 cqp Research And Development Expense Related Parties
ResearchAndDevelopmentExpenseRelatedParties
1824000 USD
CY2012 cqp Research And Development Expense Related Parties
ResearchAndDevelopmentExpenseRelatedParties
2677000 USD
CY2012Q4 cqp Restricted Net Assets Of Consolidated Subsidiaries
RestrictedNetAssetsOfConsolidatedSubsidiaries
972400000 USD
CY2012 cqp Retained Percentage Of Lng Delivered
RetainedPercentageOfLngDelivered
0.02
CY2011 cqp Revenue From Third Parties
RevenueFromThirdParties
269183000 USD
CY2010 cqp Revenue From Third Parties
RevenueFromThirdParties
268328000 USD
CY2012 cqp Revenue From Third Parties
RevenueFromThirdParties
256354000 USD
CY2012 cqp Storage Capacity
StorageCapacity
16.9 bcf
CY2012Q4 cqp Subordinated Unitholders Equity
SubordinatedUnitholdersEquity
949482000 USD
CY2011Q4 cqp Subordinated Unitholders Equity
SubordinatedUnitholdersEquity
-479197000 USD
CY2008Q1 cqp Term Of Available Extension
TermOfAvailableExtension
P5Y
CY2012Q4 cqp Total Long Term Debt Including Related Parties
TotalLongTermDebtIncludingRelatedParties
2185500000 USD
CY2011Q4 cqp Total Long Term Debt Including Related Parties
TotalLongTermDebtIncludingRelatedParties
2215500000 USD
CY2012Q4 cqp Train Nominal Capacity
TrainNominalCapacity
4.5
CY2008Q1 cqp Tug Boat Agreement Term Of Agreement
TugBoatAgreementTermOfAgreement
P10Y
CY2012 dei Amendment Flag
AmendmentFlag
false
CY2012 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2012 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2012 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
CY2012 dei Document Period End Date
DocumentPeriodEndDate
2012-12-31
CY2012 dei Document Type
DocumentType
10-K
CY2012 dei Entity Central Index Key
EntityCentralIndexKey
0001383650
CY2013Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
39488488 shares
CY2012 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2012 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2012Q2 dei Entity Public Float
EntityPublicFloat
439000000 USD
CY2012 dei Entity Registrant Name
EntityRegistrantName
Cheniere Energy Partners, L.P.
CY2012 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2012 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No

Files In Submission

Name View Source Status
0001383650-13-000017-index-headers.html Edgar Link pending
0001383650-13-000017-index.html Edgar Link pending
0001383650-13-000017.txt Edgar Link pending
0001383650-13-000017-xbrl.zip Edgar Link pending
cqp-20121231.xml Edgar Link completed
cqp-20121231.xsd Edgar Link pending
cqp-20121231_cal.xml Edgar Link unprocessable
cqp-20121231_def.xml Edgar Link unprocessable
cqp-20121231_lab.xml Edgar Link unprocessable
cqp-20121231_pre.xml Edgar Link unprocessable
cqp2012form10k.htm Edgar Link pending
cqpcorporatestructure.jpg Edgar Link pending
exhibit1018gailspaamendment.htm Edgar Link pending
exhibit1019kogasspaamendme.htm Edgar Link pending
exhibit1026changeorders.htm Edgar Link pending
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