Cheniere Energy Partners Reports $2.989 Billion Revenue in Q1 2025, Up 30.3%

Cheniere Energy Partners, L.P. reported a total revenue of $2.989 billion for the first quarter of 2025, marking a significant increase of 30.3% compared to $2.295 billion in the same period of 2024. The rise in revenue was primarily driven by a $547 million increase in LNG revenues, which reached $2.267 billion, up from $1.720 billion year-over-year. The company also noted a $671 million contribution from affiliate LNG revenues, reflecting a $147 million increase. However, net income for the quarter decreased to $641 million, down from $682 million in the prior year, attributed to an unfavorable change in the fair value of derivative instruments.

Operating costs and expenses rose to $2.163 billion, a 51.5% increase from $1.420 billion in the previous year. This increase was largely due to a $739 million rise in the cost of sales, primarily driven by higher natural gas prices. The company reported a decrease in interest expense, which fell to $190 million from $202 million, contributing to a slight improvement in net income despite the overall decline. Basic and diluted net income per common unit was $1.08, down from $1.18 in the prior year.

Strategically, Cheniere is pursuing an expansion project adjacent to its existing liquefaction facility in Cameron Parish, Louisiana, which aims to add approximately 20 million tonnes per annum (mtpa) of LNG production capacity. The company has commenced commercialization efforts to support this expansion, although it requires regulatory approvals and financing arrangements before a final investment decision (FID) can be made. As of May 1, 2025, Cheniere has exported over 200 million tonnes of LNG from its Sabine Pass facility, underscoring its operational capabilities.

In terms of liquidity, Cheniere reported total available liquidity of $1.955 billion as of March 31, 2025, which includes cash, cash equivalents, and available commitments under credit facilities. The company declared a cash distribution of $0.820 per common unit for the first quarter, reflecting its commitment to returning value to unitholders. Looking ahead, Cheniere anticipates continued demand for LNG and plans to leverage its existing infrastructure and strategic initiatives to enhance its market position and financial performance.