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Investments and Long-Term Receivables
3 Months Ended
Mar. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]  
Investments and Long-Term Receivables
Note 3—Investments and Long-Term Receivables
Australia Pacific LNG Pty Ltd (APLNG)
In 2012, APLNG executed an $8.5 billion project finance facility that became non-recourse following financial completion in 2017. The facility is currently composed of a financing agreement with the Export-Import Bank of the United States, a commercial bank facility and two United States Private Placement note facilities. APLNG principal and interest payments commenced in March 2017 and are scheduled to occur bi-annually until September 2030. At March 31, 2023, a balance of $4.9 billion was outstanding on these facilities. See Note 7.
At March 31, 2023, the carrying value of our equity method investment in APLNG was approximately $5.8 billion. This balance is included in the “Investments and long-term receivables” line on our consolidated balance sheet.
Port Arthur Liquefaction Holdings, LLC (PALNG)
In March 2023, we acquired a 30 percent direct equity investment in PALNG, a joint venture for the development of a large-scale LNG facility for the first phase of the Port Arthur LNG project ("Phase 1"). Sempra PALNG Holdings, LLC owns the remaining 70 percent interest in the joint venture. At March 31, 2023, the carrying value of our equity method investment in PALNG was approximately $0.4 billion. This balance is included in the “Investments and long-term receivables” line on our consolidated balance sheet and is reported in our Corporate and Other segment.