How did Cheniere Energy Partners perform in the third quarter of 2026?

Revenues were $2,574 million, net income was $639 million, and Adjusted EBITDA was $954 million, compared with $2,404 million, $506 million, and $885 million in the third quarter of 2025. The filing attributes the increases primarily to higher total margins on LNG delivered, driven by higher volumes recognized in income and higher margins per MMBtu.

What is the distribution outlook for unitholders?

The Partnership declared a third-quarter distribution of $0.890 per common unit, payable November 13, 2026. It tightened full-year 2026 distribution guidance to $3.30 to $3.40 per common unit from $3.10 to $3.40, and maintained a base distribution of $3.10 per common unit.

What is the status of the SPL Expansion Project?

The expansion targets up to approximately 20 mtpa of peak capacity and will be executed in phases. The first phase includes Train 7 and a boil-off gas re-liquefaction unit with expected capacity of over 6 mtpa. A lump sum EPC contract with Bechtel was signed in May 2026 and Bechtel began early work under a limited notice to proceed. FERC issued the final EIS in September 2026, while the FERC siting application and DOE export application remain pending, and a positive FID is subject to regulatory approvals and acceptable commercial and financing arrangements.

How will the expansion be financed?

In September 2026, the Partnership and its subsidiaries obtained commitments for a term loan to finance first-phase construction costs not expected to be funded with available cash, sized at approximately 50% of total estimated first-phase project costs. Closing and funding are subject to customary conditions, including a positive FID. The Partnership also secured commitments to amend and extend its SPL and Cheniere Partners revolving credit facilities, including reallocating $250 million of commitments to the Cheniere Partners facility.

What is the Partnership's liquidity position?

As of September 30, 2026, total available liquidity was $2,477 million, consisting of $569 million in cash and cash equivalents, $35 million in restricted cash and cash equivalents, and $1,873 million in available credit facility commitments. In September 2026, SPL also repaid approximately $54 million of its 2037 Senior Secured Notes under their fixed amortization schedule.

CQP 8-K: Earnings & Results

01—Abstract

Summary

Summary of the 8-K filed October 29, 2026. Cited figures are marked; the original filing is the authoritative source.

Cheniere Energy Partners, L.P. reported third quarter 2026 results in a press release furnished as Exhibit 99.1 to this Form 8-K dated October 29, 2026.

For the three months ended September 30, 2026, the Partnership reported revenues of $2,574 million^a (versus $2,404 million in 2025), net income of $639 million (versus $506 million), and Adjusted EBITDA of $954 million (versus $885 million). For the nine months ended September 30, 2026, revenues were $8,757 million, net income $1,986 million, and Adjusted EBITDA $3,112 million. LNG exports totaled 104 cargoes in the quarter, flat year over year, and 377 TBtu of volumes exported.

Total available liquidity was $2,477 million^b as of September 30, 2026, including cash and cash equivalents of $569 million. The Partnership declared a third-quarter cash distribution of $0.890 per common unit, consisting of a base amount of $0.775 and a variable amount of $0.115, payable November 13, 2026 to unitholders of record as of November 3, 2026. It tightened its full-year 2026 distribution guidance to $3.30 to $3.40 per common unit from $3.10 to $3.40, while maintaining a base distribution of $3.10 per common unit.

On the growth front, Sabine Pass Liquefaction, LLC signed a long-term LNG sale and purchase agreement with QatarEnergy in October 2026 for up to 2 mtpa from the early 2030s through 2054, with 1 mtpa subject to, among other things, a positive final investment decision on the first phase of the SPL Expansion Project. FERC issued the final environmental impact statement for the expansion in September 2026, and the Partnership obtained commitments for a term loan sized to finance approximately 50%^c of estimated first-phase project costs, subject to a positive FID. The FERC siting application and DOE non-FTA export application remain pending.

02—Key points

Key Highlights

Q3 2026 net income of $639 million, up from $506 million in Q3 2025; nine-month net income of $1,986 million versus $1,700 million
Q3 2026 Adjusted EBITDA of $954 million versus $885 million in the prior-year quarter; nine-month Adjusted EBITDA of $3,112 million versus $2,649 million
Full-year 2026 distribution guidance tightened to $3.30 to $3.40 per common unit from $3.10 to $3.40, with the base distribution maintained at $3.10
Third-quarter distribution of $0.890 per common unit ($0.775 base plus $0.115 variable), payable November 13, 2026
Long-term LNG SPA with QatarEnergy for up to 2 mtpa on an FOB basis from the early 2030s through 2054, with 1 mtpa subject to a positive FID on the SPL Expansion Project's first phase
FERC issued the final environmental impact statement for the SPL Expansion Project in September 2026; the FERC siting and DOE non-FTA export applications remain pending
Total available liquidity of $2,477 million as of September 30, 2026, including $569 million of cash and cash equivalents

03—Questions

Frequently Asked Questions

How did Cheniere Energy Partners perform in the third quarter of 2026?
Revenues were $2,574 million, net income was $639 million, and Adjusted EBITDA was $954 million, compared with $2,404 million, $506 million, and $885 million in the third quarter of 2025. The filing attributes the increases primarily to higher total margins on LNG delivered, driven by higher volumes recognized in income and higher margins per MMBtu.
What is the distribution outlook for unitholders?
The Partnership declared a third-quarter distribution of $0.890 per common unit, payable November 13, 2026. It tightened full-year 2026 distribution guidance to $3.30 to $3.40 per common unit from $3.10 to $3.40, and maintained a base distribution of $3.10 per common unit.
What is the status of the SPL Expansion Project?
The expansion targets up to approximately 20 mtpa of peak capacity and will be executed in phases. The first phase includes Train 7 and a boil-off gas re-liquefaction unit with expected capacity of over 6 mtpa. A lump sum EPC contract with Bechtel was signed in May 2026 and Bechtel began early work under a limited notice to proceed. FERC issued the final EIS in September 2026, while the FERC siting application and DOE export application remain pending, and a positive FID is subject to regulatory approvals and acceptable commercial and financing arrangements.
How will the expansion be financed?
In September 2026, the Partnership and its subsidiaries obtained commitments for a term loan to finance first-phase construction costs not expected to be funded with available cash, sized at approximately 50% of total estimated first-phase project costs. Closing and funding are subject to customary conditions, including a positive FID. The Partnership also secured commitments to amend and extend its SPL and Cheniere Partners revolving credit facilities, including reallocating $250 million of commitments to the Cheniere Partners facility.
What is the Partnership's liquidity position?
As of September 30, 2026, total available liquidity was $2,477 million, consisting of $569 million in cash and cash equivalents, $35 million in restricted cash and cash equivalents, and $1,873 million in available credit facility commitments. In September 2026, SPL also repaid approximately $54 million of its 2037 Senior Secured Notes under their fixed amortization schedule.

04—Continue

← View all 8-K filings