Entity

Cheniere Energy Partners, L.P. (NYSE: CQP) is a publicly traded Delaware limited partnership formed by Cheniere Energy, Inc. in 2003 and listed on the NYSE since March 21, 2007. It owns and operates the Sabine Pass LNG Terminal in Cameron Parish, Louisiana — one of the largest LNG export facilities in the world — as well as the Creole Trail Pipeline. CQP generated ~$10.8 billion in revenue for the full year 2024, with revenues of approximately $5.4 billion in the first half of 2025.

Shareholding Structure

Cheniere Energy, Inc.'s total effective economic interest in CQP is ~50.56% (48.56% LP direct + 2% GP via CQP GP), and it retains full management control through 100% ownership of CQP GP regardless of LP unit percentages.

Key Assets

CQP owns the following assets through its subsidiaries:

• Sabine Pass Liquefaction, LLC (SPL) — owns and operates 6 liquefaction trains (~30 mtpa total capacity)

• Sabine Pass LNG, L.P. (SPLNG) — owns and operates the regasification facilities (5 LNG storage tanks totalling ~16.9 Bcfe capacity, vaporizers at ~4.0 Bcf/d sendout capacity, and 3 marine berths)

• Cheniere Creole Trail Pipeline, L.P. (CTPL) — owns the 94-mile natural gas supply pipeline connecting the terminal to interstate pipelines

Business Model

CQP generates revenue primarily through long-term, fixed-fee liquefaction contracts with integrated energy companies, utilities, and trading firms, providing stable, predictable cash flows that underpin its quarterly distribution to unitholders. Its 2025 distribution guidance is $3.25–$3.35 per common unit. CQP exported its 3,000th LNG cargo from Sabine Pass in July 2025, marking a significant operational milestone.