Investments, Loans and Long-Term Receivables	6 Months Ended
Jun. 30, 2021
Investments, Loans and Long-Term Receivables [Abstract]
Investments, Loans and Long-Term Receivables	Note 4—Investments, Loans and Long-Term Receivables Australia Pacific LNG Pty Ltd (APLNG) APLNG executed project financing agreements for an $ 8.5 billion project finance facility in 2012. All amounts were drawn from the facility. The project financing facility has been restructured over time and at June 30, 2021, this facility was 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 made its first principal and interest repayment in March 2017 and is scheduled to make bi-annual payments until September 2030. At June 30, 2021, a balance of $ 6.0 billion was outstanding on the current facilities. During the fourth quarter of 2020, the estimated fair value of our investment in APLNG declined to an amount below carrying value, primarily due to the weakening of the U.S. dollar relative to the Australian dollar. Based on a review of the facts and circumstances surrounding this decline in fair value, we concluded the impairment was not other than temporary under the guidance of FASB ASC Topic 323, “Investments – Equity Method and Joint Ventures.” Due primarily to improved outlooks for commodity prices and the strengthening of the U.S. dollar relative to the Australian dollar during the first six months of 2021, the estimated fair value of our investment increased and is above carrying value at June 30, 2021. We will continue to monitor the relationship between the carrying value and fair value of APLNG. At June 30, 2021, the carrying value of our equity method investment in APLNG was $ 6.4 billion. The balance is included in the “Investments and long-term receivables” line on our consolidated balance sheet. Loans and Long-Term Receivables As part of our normal ongoing business operations, and consistent with industry practice, we enter into numerous agreements with other parties to pursue business opportunities. Included in such activity are loans made to certain affiliated and non-affiliated companies. At June 30, 2021, significant loans to affiliated companies included $ 168 million in project financing to Qatar Liquefied Gas Company Limited (3). On our consolidated balance sheet, the long-term portion of these loans is included in the “Loans and advances—related parties” line, while the short-term portion is in the “Accounts and notes receivable—related parties” line.

Note 4—Investments, Loans and Long-Term Receivables

Australia Pacific LNG Pty Ltd (APLNG)

APLNG executed project financing agreements

for an $

8.5

billion project finance facility in 2012.

All

amounts were drawn from the facility.

The project financing facility has been restructured

over time and at

June 30, 2021, this facility was 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 made its

first principal and interest repayment in March

2017 and is scheduled to make bi-annual payments

until

September 2030.

At June 30, 2021, a balance of $

6.0

billion was outstanding on the current

facilities.

During the fourth quarter of 2020, the estimated

fair value of our investment in APLNG declined

to an amount

below carrying value, primarily due to the weakening

of the U.S. dollar relative to the Australian

dollar.

Based

on a review of the facts and circumstances surrounding

this decline in fair value, we concluded the impairment

was not other than temporary under the guidance

of FASB ASC Topic

323, “Investments – Equity Method and

Joint Ventures.”

Due primarily to improved outlooks for

commodity prices and the strengthening of the

U.S.

dollar relative to the Australian dollar during the first

six months of 2021, the estimated fair

value of our

investment increased and is above carrying value

at June 30, 2021.

We will continue to monitor the

relationship between the carrying value and fair

value of APLNG.

At June 30, 2021, the carrying value of our equity

method investment in APLNG was

6.4

billion.

The

balance is included in the “Investments and long-term

receivables” line on our consolidated balance

sheet.

Loans and Long-Term Receivables

As part of our normal ongoing business operations,

and consistent with industry practice,

we enter into

numerous agreements with other parties to pursue

business opportunities.

Included in such activity are loans

made to certain affiliated and non-affiliated companies.

At June 30, 2021, significant loans to affiliated

companies included $

168

million in project financing to Qatar Liquefied

Gas Company Limited (3).