Cheniere Energy Partners reported its fourth quarter and full-year 2024 financial results, highlighting total revenues of $8.7 billion for the year, with net income of $2.5 billion and Adjusted EBITDA of $3.6 billion. The company exported 431 LNG cargoes, totaling 1,567 TBtu, reflecting a 2% increase in volume compared to 2023. Despite the increase in volume, revenue and net income declined year-over-year due to lower LNG margins and reduced gains from derivatives.
For the fourth quarter, Cheniere Partners generated $2.5 billion in revenue and $623 million in net income, reflecting an 8% and 31% decline from Q4 2023, respectively. The company attributed these declines to lower margins on delivered LNG and unfavorable changes in the fair value of derivative instruments.
Cheniere Partners declared a Q4 2024 cash distribution of $0.82 per common unit, bringing full-year distributions to $3.25 per unit. The company introduced 2025 distribution guidance of $3.25-$3.35 per common unit, maintaining a base distribution of $3.10.
The Sabine Pass Liquefaction Project, which consists of six operational LNG trains, has exported over 195 million tonnes of LNG since its inception. The company is advancing an expansion project at the terminal, targeting an additional production capacity of up to 20 mtpa. It has received regulatory approval from the Department of Energy for LNG exports to Free-Trade Agreement (FTA) countries and is awaiting further approvals.
Cheniere Partners ended the year with $2.2 billion in available liquidity, including $270 million in cash and $1.8 billion in available credit facilities. The company also repaid $350 million in senior secured notes in Q4 2024.
Looking ahead, Cheniere Partners remains focused on maintaining stable distributions, advancing its Sabine Pass expansion, and optimizing LNG production to navigate market fluctuations in 2025.
