01—Abstract
Summary
Summary of the 8-K filed January 31, 2024. Cited figures are marked; the original filing is the authoritative source.
On January 31, 2024, Cheniere Energy Partners, L.P.
(CQP) filed a Form 8-K to disclose that its general partner's Board of Directors determined on January 26, 2024 to voluntarily withdraw the principal listing of the Partnership's common units from the NYSE American and transfer the listing to the New York Stock Exchange (NYSE). The NYSE American listing is expected to end at market close on Friday, February 2, 2024, with trading on the NYSE beginning at market open on Monday, February 5, 2024. The filing furnishes a press release (Exhibit 99.1) announcing that both Cheniere Energy, Inc. (LNG) and Cheniere Energy Partners, L.P.
(CQP) were approved for uplisting to the NYSE. The release states that both companies will continue to trade under their existing symbols, "LNG" and "CQP" respectively. Zach Davis, Cheniere's Executive Vice President and Chief Financial Officer, is quoted describing the move as part of the NYSE family and a continuation of the company's success story on the NYSE American and its predecessors.
For investors, the event is administrative in nature: it changes the exchange on which the units trade but does not change the ticker or the Partnership's business description in the release. The Partnership owns the Sabine Pass LNG terminal, with six liquefaction Trains and a total production capacity of approximately 30 mtpa, plus the Creole Trail Pipeline. The filing itself does not report financial results or new financial metrics.
02—Key points
Key Highlights
- Cheniere Energy Partners, L.P. (CQP) will voluntarily transfer the principal listing of its common units from the NYSE American to the New York Stock Exchange (NYSE).
- The Board of Directors of the General Partner made the determination on January 26, 2024.
- NYSE American trading ends at market close on Friday, February 2, 2024; NYSE trading begins at market open on Monday, February 5, 2024.
- The ticker symbol "CQP" remains unchanged, and Cheniere Energy, Inc. (LNG) is undergoing the same uplisting.
- The Partnership owns the Sabine Pass LNG terminal with six liquefaction Trains and approximately 30 mtpa of total production capacity, plus the Creole Trail Pipeline.
- The press release is furnished under Item 7.01 and is not deemed "filed" for purposes of Section 18 of the Exchange Act.
03—Questions
Frequently Asked Questions
Will the Partnership's common units change their ticker symbol?
No. The press release states that Cheniere Energy, Inc. and Cheniere Energy Partners, L.P. will continue to trade under the symbols "LNG" and "CQP" respectively.
When will trading of the common units move to the NYSE?
Listing and trading on the NYSE American will end at market close on February 2, 2024, and trading on the NYSE is expected to begin at market open on February 5, 2024.
Why is the Partnership changing its listing exchange?
The filing states the General Partner's Board determined to voluntarily withdraw the principal listing from the NYSE American and transfer it to the NYSE. The filing does not give further reasons beyond the press release's comments about the NYSE family and continued success.
Does this filing report new financial results for the Partnership?
No. The filing covers the exchange transfer and furnishes a press release on the uplisting. It does not present financial results or new financial metrics.
What are the Partnership's principal assets described in the filing?
The press release describes the Partnership as owning the Sabine Pass LNG terminal in Cameron Parish, Louisiana, which has six liquefaction Trains with total production capacity of approximately 30 mtpa, five LNG storage tanks, vaporizers, and three marine berths, along with the Creole Trail Pipeline that interconnects the terminal with interstate and intrastate pipelines.
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