Annual report pursuant to Section 13 and 15(d)

Related Party Transactions

v3.24.0.1
Related Party Transactions
 12 Months Ended
Dec. 31, 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):
Year Ended December 31,
2023 2022 2021
LNG Revenues
Natural Gas Transportation and Storage Agreements with a related party through Brookfield (1)
 $ —  $ —  $ 1 
Other revenues
Operating Agreement and Construction Management Agreement with Midship Pipeline Company, LLC (“Midship Pipeline”) (2)
10  7  7 
Cost of sales
Natural Gas Supply Agreements (3) —  —  162 
Natural Gas Transportation and Storage Agreements with a related party through Brookfield (1)
 —  —  1 
Total cost of sales —  —  163 
Operating and maintenance expense
Natural Gas Transportation and Storage Agreements with Midship Pipeline (2)
 9  9  9 
Natural Gas Transportation and Storage Agreements with a related party through Brookfield (1)
 62  72  46 
(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.
(3)Includes amounts recorded related to natural gas supply contracts that SPL and CCL had with related parties. These agreements ceased to be considered related party agreements during 2021, when the related party entity was acquired by a non-related party.
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):
December 31,
2023 2022
Trade and other receivables, net of current expected credit losses $ 3  $ 1 
Accrued liabilities 6  1