COP · 10-Q · 2026Q2 · Full report

LNG Joint Venture Investments

CONOCOPHILLIPS · 2026-08-06 · Importance 37 · Surprise 6 · In source text

ConocoPhillips held a 47.5% interest in Australia Pacific LNG, whose debt balance was $3.1 billion at June 30, 2026 and whose equity-method carrying value was approximately $4.8 billion. The company’s equity-method investment in Port Arthur LNG had a carrying value of approximately $1.7 billion at June 30, 2026. Equity-method investments in Qatar LNG projects had an aggregate carrying value of approximately $1.9 billion at June 30, 2026.

Key facts

• We have multiple outstanding guarantees in connection with our 47.5 percent ownership interest in APLNG with remaining terms of seven to years, and the maximum potential future payments related to these guarantees are approximately $1,650 million. source
• At June 30, 2026, the carrying value of our equity method investment in APLNG was approximately $4.8 billion and we hold a 47.5 percent shareholding interest in APLNG. source
• At June 30, 2026, APLNG's outstanding debt balance was $3.1 billion and the last principal and interest payment on the debt is due in September 2032. source
• At June 30, 2026, the carrying value of our equity method investment in PALNG was approximately $1.7 billion. source
• At June 30, 2026, the carrying value of our equity method investments in Qatar was approximately $1.9 billion. source
• Decreases to earnings include lower earnings from equity affiliates of $47 million, primarily due to lower LNG marker prices. source

Impact estimates