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Cheniere Energy Partners 8-K Report, Corporate Update (Apr 29, 2024)

Reports
Other Events·Exhibits & Filings
Filing Date
Filed April 29, 2024
Period End
April 29, 2024
Security
CQP
In the record · 2016–202610-K1210-Q338-K177

CQP filed 12 annual reports (10-K), 33 quarterly reports (10-Q) and 177 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Sep ’17Sep ’17
  2. Material agreement8-K · May ’20May ’20
  3. Leadership change8-K · Sep ’22Sep ’22
  4. Leadership change8-K · Jul ’26Jul ’26

01—Abstract

Summary

Summary of the 8-K filed April 29, 2024. Cited figures are marked; the original filing is the authoritative source.

Cheniere Energy Partners, L.P.

(NYSE: CQP) filed a Current Report on Form 8-K on April 29, 2024 to report that it declared a quarterly cash distribution of $0.810a per common unit. The distribution is payable on May 15, 2024 to unitholders of record as of May 9, 2024. The press release announcing the distribution was issued the same day and is attached as Exhibit 99.1.

The $0.810b distribution is made up of a base amount of $0.775 and a variable amount of $0.035. The partnership also declared the related distribution to its general partner. The filing describes the partnership as the owner of the Sabine Pass LNG terminal in Cameron Parish, Louisiana, which has six liquefaction Trains with a total production capacity of approximately 30 million tonnes per annum of LNG, and of the Creole Trail Pipeline.

The press release also includes U.S. tax withholding notices for distributions paid to foreign persons. It states that 100 percent of distributions to foreign investors are effectively connected with a U.S. trade or business and subject to federal income tax withholding at the highest applicable effective tax rate. Nominees are identified as withholding agents for distributions they receive on behalf of foreign investors.

02—Key points

Key Highlights

  1. Quarterly cash distribution declared of $0.810 per common unit, payable May 15, 2024.
  2. Record date for the distribution is May 9, 2024.
  3. The distribution consists of a base amount of $0.775 and a variable amount of $0.035 per common unit.
  4. A related distribution to the general partner was also declared.
  5. Sabine Pass LNG terminal has six liquefaction Trains with total production capacity of approximately 30 million tonnes per annum of LNG.
  6. All distributions to foreign investors are stated to be effectively connected with a U.S. trade or business and subject to federal income tax withholding at the highest applicable effective tax rate.
  7. The press release refers to the Annual Report on Form 10-K for the year ended December 31, 2023 for additional information.

03—Questions

Frequently Asked Questions

  1. How much is the quarterly distribution and when is it paid?

    The partnership declared a cash distribution of $0.810 per common unit, payable on May 15, 2024 to unitholders of record as of May 9, 2024.

  2. What makes up the $0.810 per unit distribution?

    The distribution is comprised of a base amount equal to $0.775 and a variable amount equal to $0.035 per common unit.

  3. What assets does Cheniere Energy Partners own?

    According to the press release, the partnership owns the Sabine Pass LNG terminal in Cameron Parish, Louisiana, which has six liquefaction Trains with a total production capacity of approximately 30 million tonnes per annum of LNG, five LNG storage tanks, vaporizers, and three marine berths. It also owns the Creole Trail Pipeline.

  4. How are distributions taxed for foreign investors?

    The press release states that 100 percent of distributions to foreign investors are attributable to income effectively connected with a U.S. trade or business and are subject to federal income tax withholding at the highest applicable effective tax rate. Nominees are treated as withholding agents for distributions received on behalf of foreign investors.

04—Continue

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