Divestiture (Notes) |
3 Months Ended |
---|---|
Mar. 31, 2017 | |
Acquisitions and Divestitures [Abstract] | |
Acquisitions | Divestiture Sale of Interest in Elba Liquefaction Company L.L.C. (ELC) Effective February 28, 2017, we sold a 49% partnership interest in ELC to investment funds managed by EIG Global Energy Partners (EIG). We continue to own a 51% controlling interest in and operate ELC. Under the terms of ELC’s limited liability company agreement, we are responsible for placing in service and operating certain supply pipelines and terminal facilities that support the operations of ELC and which are wholly owned by us. In certain limited circumstances which are not expected to occur, EIG has the right to relinquish its interest in ELC and redeem its capital account. We have, as a result of these contingencies, reflected the $391 million of total contributions from EIG, consisting of $387 million of proceeds from the sale and $4 million as an additional contribution for March 2017 capital expenditures, as a deferred credit within “Other long-term liabilities and deferred credits” on our consolidated balance sheet as of March 31, 2017. EIG is not entitled to any specified return on its capital. Once these contingencies expire, EIG’s capital account will be reflected as noncontrolling interest on our balance sheet. |