Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions

v3.24.3
Related Party Transactions
 9 Months Ended
Sep. 30, 2024
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,
2024 2023 2024 2023
Other revenues
Operating agreement and construction management agreement with equity method investee $ 3  $ 2  $ 7  $ 7 
Operating and maintenance expense
Natural gas transportation and storage agreements with equity method investees 10  5  15  9 
Natural gas transportation and storage agreements with other related party (1) 15  14  44  44 
(1)These arrangements are with a party who indirectly owns a portion of CQP’s limited partner interests.

During the three and nine months ended September 30, 2024, we sold certain physical assets to an equity method investee to support future natural gas transportation services to be provided to CCL involving such assets. We recognized the transaction as an exchange of other non-current assets totaling $34 million on our Consolidated Balance Sheets.

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,
2024 2023
Trade and other receivables, net of current expected credit losses $ 3  $ 3 
Accrued liabilities 8  6