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Revenues (Tables)
 9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The following table represents a disaggregation of revenue earned (in millions):
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Revenues from contracts with customers
LNG revenues (excluding net derivative gain (loss) below)
$4,200 $3,569 $13,802 $10,614 
Regasification revenues34 34 102 102 
     Other revenues (1)59 80 185 231 
Total revenues from contracts with customers4,293 3,683 14,089 10,947 
Net derivative gain (loss) (see Note 5)
102 (15)320 19 
Sublease income (see Note 9)
39 83 102 266 
Other revenues7 12 15 35 
Total revenues$4,441 $3,763 $14,526 $11,267 
(1)Includes revenues from LNG vessel subcharters that do not qualify as leases for accounting purposes.
Contract Assets
The following table shows our contract assets, net of current expected credit losses, which are included in other current assets, net and other non-current assets, net on our Consolidated Balance Sheets (in millions):
September 30,December 31,
20252024
Contract assets, net of current expected credit losses$401 $331 
Contract Liabilities
The following table reflects the changes in our contract liabilities, which are included in deferred revenue and other non-current liabilities on our Consolidated Balance Sheets (in millions):
Nine Months Ended September 30, 2025
Deferred revenue, beginning of period$318 
Cash received but not yet recognized in revenue149 
Revenue recognized from prior period deferral(162)
Deferred revenue, end of period$305 
Transaction Price Allocated to Future Performance Obligations The following table discloses the aggregate amount of the transaction price that is allocated to performance obligations that have not yet been satisfied:
September 30, 2025December 31, 2024
Unsatisfied Transaction Price (in billions)Weighted Average Recognition Timing (years) (1)Unsatisfied Transaction Price (in billions)Weighted Average Recognition Timing (years) (1)
LNG revenues$107.6 8$104.7 8
Regasification revenues0.4 20.5 3
Total revenues$108.0 $105.2 
(1)The weighted average recognition timing represents an estimate of the number of years during which we shall have recognized half of the unsatisfied transaction price.
Revenue, Remaining Performance Obligation, Variable Consideration
The following table summarizes the percentage of variable consideration earned under contracts with customers included in the table above:
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
LNG revenues64 %60 %67 %57 %
Regasification revenues8 %8 %8 %8 %