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Non-Controlling Interest and Variable Interest Entities
 3 Months Ended
Mar. 31, 2026
Noncontrolling Interest and Variable Interest Entity [Abstract]  
Non-Controlling Interest and Variable Interest Entities NON-CONTROLLING INTERESTS AND VARIABLE INTEREST ENTITIES
Our consolidated VIEs’ assets and liabilities related to CQP as of March 31, 2026 and substantially all related to CQP as of December 31, 2025. We own a 48.6% limited partner interest in CQP, and we also own all of the 2% general partner interest and 100% of the incentive distribution rights in CQP. The remaining 49.4% non-controlling limited partner interest in CQP is held by affiliates of Blackstone Inc. and Brookfield Asset Management, Inc. as well as the public.

In January 2026, we redeemed the remaining redeemable NCI in our other consolidated VIE that owns the Gregory Power Plant, a natural gas-fired combined cycle facility located in San Patricio County, Texas.
The following table presents the summarized consolidated assets and liabilities (in millions) of our consolidated VIEs, which are included in our Consolidated Balance Sheets. The assets in the table below may only be used to settle obligations of the respective VIEs. In addition, there is no recourse to us for the consolidated VIEs’ liabilities. The assets and liabilities in the table below exclude intercompany balances between the respective VIEs and Cheniere that eliminate in our Consolidated Financial Statements.
March 31,December 31,
20262025
ASSETS 
Current assets  
Cash and cash equivalents$279 $182 
Restricted cash and cash equivalents22 22 
Trade and other receivables, net of current expected credit losses281 512 
Inventory151 186 
Current derivative assets3 — 
Margin deposits17 11 
Other current assets, net44 55 
Total current assets797 968 
Property, plant and equipment, net of accumulated depreciation15,106 15,397 
Operating lease assets75 77 
Derivative assets464 541 
Other non-current assets, net207 287 
Total assets$16,649 $17,270 
LIABILITIES  
Current liabilities  
Accounts payable$52 $58 
Accrued liabilities732 1,000 
Current debt, net of unamortized discount and debt issuance costs1,606 306 
Deferred revenue93 119 
Current operating lease liabilities5 5 
Current derivative liabilities447164 
Other current liabilities7 11 
Total current liabilities2,942 1,663 
Long-term debt, net of unamortized discount and debt issuance costs12,612 14,161 
Operating lease liabilities72 73 
Derivative liabilities1,187 900 
Other non-current liabilities155 159 
Total liabilities$16,968 $16,956