Cheniere Energy Partners Reports First Quarter 2025 Results

Cheniere Energy Partners, L.P. has released its financial results for the first quarter of 2025, providing insights into the company's performance and strategic initiatives. The report highlights key financial metrics, operational achievements, and management's perspective on the company's future outlook.

Financial Highlights

For the first quarter of 2025, Cheniere Energy Partners reported revenues of $3.0 billion, a 30% increase compared to the same period in 2024. Net income for the quarter was $641 million, down 6% from the previous year. Adjusted EBITDA rose by 4% to $1.0 billion. The company declared a cash distribution of $0.820 per common unit, maintaining its full-year distribution guidance of $3.25 - $3.35 per common unit.

Business and Operational Highlights

During the first quarter, Cheniere Partners exported 112 LNG cargoes, totaling 406 TBtu, a slight decrease from the 114 cargoes and 418 TBtu in the same period last year. The company recognized revenue from 405 TBtu of LNG loaded from the Sabine Pass Liquefaction Project.

Strategic Initiatives and Corporate Developments

Cheniere Partners repaid the remaining $300 million in principal amount of its 5.625% Senior Secured Notes due 2025. The company is also developing an expansion project adjacent to the Sabine Pass LNG terminal, which is expected to increase production capacity by approximately 20 mtpa of LNG.

Management's Perspective

Management attributed the decrease in net income primarily to unfavorable variances related to changes in the fair value of derivative instruments. However, the increase in Adjusted EBITDA was driven by higher total margins per MMBtu of LNG delivered during the quarter. The company remains confident in its ability to meet its full-year distribution guidance.

Future Outlook

Cheniere Partners reconfirmed its full-year 2025 distribution guidance of $3.25 - $3.35 per common unit, maintaining a base distribution of $3.10 per common unit. The company continues to focus on its expansion projects and strategic initiatives to enhance its production capacity and operational efficiency.

SEC Filing: Cheniere Energy Partners, L.P. [ CQP ] - 8-K - May. 08, 2025