Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions

v3.23.3
Related Party Transactions
 9 Months Ended
Sep. 30, 2023
Related Party Transactions [Abstract]  
Related Party Transactions RELATED PARTY TRANSACTIONS
Below is a summary of our related party transactions, all in the ordinary course of business, as reported on our Consolidated Statements of Operations (in millions):
Three Months Ended September 30, Nine Months Ended September 30,
2023 2022 2023 2022
LNG Revenues
Natural Gas Transportation and Storage Agreements with a related party through Brookfield Asset Management, Inc. (“Brookfield”) (1)
$ —  $ —  $ —  $ 4 
Other revenues
Operating Agreement and Construction Management Agreement with Midship Pipeline Company, LLC (“Midship Pipeline”) (2)
2  3  7  5 
Cost of sales
Natural Gas Transportation and Storage Agreements with a related party through Brookfield (1)
 —  —  —  1 
Operating and maintenance expense
Natural Gas Transportation and Storage Agreements with Midship Pipeline (2)
 5  —  9  — 
Natural Gas Transportation and Storage Agreements with a related party through Brookfield (1)
 14  18  44  45 
(1)This related party is partially owned by Brookfield, who indirectly owns a portion of CQP’s limited partner interests.
(2)Midship Pipeline is a subsidiary of Midship Holdings, LLC, which we recognize as an equity method investment.

Below is a summary of our related party balances, all in the ordinary course of business, as reported on our Consolidated Balance Sheets (in millions):
September 30, December 31,
2023 2022
Trade and other receivables, net of current expected credit losses $ 2  $ 1 
Accrued liabilities 6  1