Summary
This filing for Cheniere Energy, Inc. (LNG) for the period ending December 30, 2015, primarily addresses compliance disclosures related to transactions with Iran, as mandated by Section 13(r) of the Exchange Act. Cheniere Energy itself confirms no direct transactions with Iran or related entities during fiscal year 2015. However, due to its affiliate relationship with Cheniere Partners, and the significant ownership of Cheniere Partners by Blackstone CQP Holdco LP, Cheniere Energy is disclosing potential indirect exposure through Blackstone's portfolio companies, as reported by Blackstone.
Financial Highlights
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Financial Statements
Beta
| Revenue | $271.00M |
| Cost of Revenue | -$15.00M |
| Gross Profit | $286.00M |
| R&D Expenses | $42.00M |
| SG&A Expenses | $363.00M |
| Operating Expenses | $720.00M |
| Operating Income | -$449.00M |
| Interest Expense | $322.00M |
| Net Income | -$975.00M |
| EPS (Basic) | $-4.30 |
| Shares Outstanding (Basic) | 226.90M |
| Shares Outstanding (Diluted) | 226.90M |
Key Highlights
- 1Cheniere Energy, Inc. confirms no direct engagement in transactions with Iran or its affiliates during the fiscal year 2015.
- 2The filing discloses potential indirect exposure to Iran-related transactions through its affiliate, Cheniere Partners, and its significant equity holder, Blackstone Group.
- 3Blackstone Group reported that its portfolio company, Hilton Worldwide Holdings Inc., had a minor transaction involving an Iranian delegation staying at a hotel, which Hilton believes to be exempt from sanctions.
- 4Blackstone Group also reported that its portfolio company, Travelport Worldwide Limited, provided travel commerce platform and technology services to Iranian airlines, generating revenue and profit.
- 5Both Hilton and Travelport intend to continue similar activities if permissible under applicable laws and regulations.
- 6Cheniere Energy has not independently verified the disclosures made by Blackstone Group regarding its portfolio companies.
Frequently Asked Questions
No, Cheniere Energy, Inc. explicitly states that it did not engage in any transactions with Iran or with persons or entities related to Iran during the fiscal year ended December 31, 2015.
Cheniere Energy is disclosing this information because its affiliate, Cheniere Partners, has Blackstone CQP Holdco LP as a significant equity holder. Blackstone Group, in turn, has reported these transactions by its portfolio companies (Hilton and Travelport) to comply with Section 13(r) of the Exchange Act. Due to the broad definition of 'affiliate,' Cheniere Energy is indirectly disclosing these potential dealings as reported by Blackstone.
Cheniere Energy has not independently verified the disclosures made by Blackstone Group regarding Hilton and Travelport. The company is reporting these as disclosed by Blackstone to comply with regulatory requirements stemming from its affiliate relationships.
The filing indicates these are indirect exposures via affiliates and their portfolio companies, not direct transactions by Cheniere Energy. Hilton believes its transaction was exempt from sanctions, and Travelport's activities are stated to be either exempt or licensed. While the exact financial impact on Cheniere is not detailed, the disclosure itself points to a need for investors to be aware of the indirect compliance landscape.