Cheniere Energy Partners, L.P.
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 26, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Overview of Significant Events
Our significant events since January 1, 2025 and through the filing date of this Form 10-K include the following:
Strategic
In June 2025, certain of our subsidiaries updated the SPL Expansion Project’s FERC application, originally filed in February 2024, to reflect a two-phased project, inclusive of three liquefaction trains and supporting infrastructure, maintaining an expected total peak production capacity of up to approximately 20 mtpa of LNG, inclusive of estimated debottlenecking opportunities.
Operational
As of February 20, 2026, over 3,270 cumulative LNG cargoes totaling over 225 million tonnes of LNG have been produced, loaded and exported from the Liquefaction Project.
During the second quarter of 2025, we completed planned large-scale maintenance activities on two Trains at the Liquefaction Project.
Financial
In December 2025, SPL redeemed $300 million aggregate principal amount of its 5.875% Senior Secured Notes due 2026 (the“2026 SPL Senior Notes”) and subsequently in February 2026, SPL redeemed the remaining $200 million aggregate principal amount of its 2026 SPL Senior Notes.
We declared aggregate distributions of $3.29 per common unit for the year ended December 31, 2025. On January 28, 2026, with respect to the fourth quarter of 2025, we declared a cash distribution of $0.830 per common unit to unitholders of record as of February 9, 2026, and the related general partner distribution, which was paid on February 13, 2026. These distributions consist of a base amount of $0.775 per unit and a variable amount of $0.055 per unit.
In July 2025, we issued and sold $1.0 billion aggregate principal amount of 5.550% Senior Notes due 2035, and the net proceeds, together with cash on hand, were used to redeem $1.0 billion of the aggregate principal amount of SPL’s 2026 SPL Senior Notes.
In March 2025, SPL repaid the remaining $300 million aggregate principal amount outstanding of its 5.625% Senior Secured Notes due 2025 at maturity.
In February 2025, Fitch Ratings upgraded the issuer credit rating of CQP to BBB from BBB- with a stable outlook. In June 2025, S&P Global Ratings concurrently assigned a BBB rating to the 2035 CQP Senior Notes and upgraded the remaining unsecured CQP notes to BBB from BBB-. In November 2025, S&P further upgraded the issuer credit rating of CQP and unsecured CQP notes to BBB+ from BBB and revised its outlook on SPL’s issuer credit rating to positive from stable in December 2025.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.