Quarterly report pursuant to Section 13 or 15(d)

Financial Instruments Fair Value, by Balance Sheet Grouping (Details)

v2.4.0.6
Financial Instruments Fair Value, by Balance Sheet Grouping (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
Mar. 31, 2012
Senior Notes [Member]
2013 Senior Notes [Member]
Carrying Amount [Member]
Dec. 31, 2011
Senior Notes [Member]
2013 Senior Notes [Member]
Carrying Amount [Member]
Mar. 31, 2012
Senior Notes [Member]
2013 Senior Notes [Member]
Estimated Fair Value [Member]
Dec. 31, 2011
Senior Notes [Member]
2013 Senior Notes [Member]
Estimated Fair Value [Member]
Mar. 31, 2012
Senior Notes [Member]
2016 Senior Notes [Member]
Carrying Amount [Member]
Dec. 31, 2011
Senior Notes [Member]
2016 Senior Notes [Member]
Carrying Amount [Member]
Mar. 31, 2012
Senior Notes [Member]
2016 Senior Notes [Member]
Estimated Fair Value [Member]
Dec. 31, 2011
Senior Notes [Member]
2016 Senior Notes [Member]
Estimated Fair Value [Member]
Jul. 31, 2005
Convertible Senior Unsecured Notes [Member]
Mar. 31, 2012
Convertible Senior Unsecured Notes [Member]
Carrying Amount [Member]
Dec. 31, 2011
Convertible Senior Unsecured Notes [Member]
Carrying Amount [Member]
Mar. 31, 2012
Convertible Senior Unsecured Notes [Member]
Estimated Fair Value [Member]
Dec. 31, 2011
Convertible Senior Unsecured Notes [Member]
Estimated Fair Value [Member]
Mar. 31, 2012
Loans Payable [Member]
2007 Term Loan
Carrying Amount [Member]
Dec. 31, 2011
Loans Payable [Member]
2007 Term Loan
Carrying Amount [Member]
Mar. 31, 2012
Loans Payable [Member]
2007 Term Loan
Estimated Fair Value [Member]
Dec. 31, 2011
Loans Payable [Member]
2007 Term Loan
Estimated Fair Value [Member]
Dec. 31, 2010
Convertible Loans Payable [Member]
2008 Loans [Member]
Mar. 31, 2012
Convertible Loans Payable [Member]
2008 Loans [Member]
Carrying Amount [Member]
Dec. 31, 2011
Convertible Loans Payable [Member]
2008 Loans [Member]
Carrying Amount [Member]
Mar. 31, 2012
Convertible Loans Payable [Member]
2008 Loans [Member]
Estimated Fair Value [Member]
Dec. 31, 2011
Convertible Loans Payable [Member]
2008 Loans [Member]
Estimated Fair Value [Member]
Mar. 31, 2012
Investor [Member]
Convertible Loans Payable [Member]
2008 Loans [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]                                              
Debt, Long-term and Related Party, Combined Amount, Fair Value $ 550,000 [1] $ 550,000 [1] $ 577,500 [1] $ 555,500 [1] $ 1,643,592 [1] $ 1,642,418 [1] $ 1,762,752 [1] $ 1,650,630 [1]   $ 198,893 [2] $ 194,724 [2] $ 197,451 [2] $ 186,740 [2] $ 0 $ 298,000 [3] $ 0 $ 292,728 [3]   $ 282,293 [4] $ 282,293 [4] $ 282,293 [4] $ 282,293 [4]  
Percentage of lenders                                   96.60%          
Debt instrument conversion price                 $ 35.42                           $ 5.00
[1] The Level 2 estimated fair value of the Senior Notes, net of discount, was based on quotations obtained from broker-dealers who make markets in these and similar instruments based on the closing trading prices on March 31, 2012 and December 31, 2011, as applicable.
[2] The Level 2 estimated fair value of our Convertible Senior Unsecured Notes was based on the closing trading prices on March 31, 2012 and December 31, 2011, as applicable.
[3] The 2007 Term Loan was closely held by few holders, and purchases and sales were infrequent and were conducted on a bilateral basis without price discovery by us. This loan was not rated and had unique covenants and collateral packages such that comparisons to other instruments were imprecise. Nonetheless, we provided an estimate of the fair value of this loan as of December 31, 2011 based on an index of the yield to maturity of CCC rated debt of other companies in the energy sector, resulting in Level 3 categorization. In January 2012, the 2007 Term Loan was paid in full.
[4] In December 2010, the 2008 Loans were amended to, among other things: eliminate the "put rights" which had allowed the lenders to demand repayment of the 2008 Loans on the third, fifth, and seventh anniversaries thereof; allow for the early prepayment of the 2008 Loans; allow Cheniere for a limited period to sell Cheniere Partners common units held as collateral and prepay the 2008 Loans with the proceeds; and release restrictions on prepayments of other indebtedness of Cheniere as certain conditions are met. In addition, 96.6% of the lenders agreed to terminate their rights to exchange the 2008 Loans for Series B Preferred Stock of Cheniere. Pursuant to an amendment to the 2008 Loans adopted in September 2011, the outstanding principal amount of the 2008 Loans held by Scorpion is exchangeable for shares of Cheniere common stock at a price of $5.00 per share. The Level 3 estimated fair value of the 2008 Loans as of March 31, 2012 and December 31, 2011 was determined to be the same as the carrying amount due to our ability to call the debt (other than the debt held by Scorpion) at anytime without penalty or a make-whole payment for an early redemption.