On what basis is a "Regular Distribution" made when neither LNG nor CQP have yet to load out a drop of LNG ! Zero income--- a dividend? How does that work? Isn't this what Madoff did? Maybe Cramer can explain in a 60-second whip around...LOFL
I can explain in 2 seconds. LNG andCQP get revenue from inports and pipeline usage, companies such as TOTAL were unfortuante enough to lock up inporting contracts which are still valid. IN fact, one ofthe perks TOTAL is getting forusingtheir tanks eventually is to get out of the inport contract. thats whee the money comes from.
The distribution is not from the under-construction liquefaction operation. The distribution is from the payments received from Total and Chevron under the terminal use agreements. You can get details about this from CQP's website.