[1]	In computing basic and diluted net income per common unit, net income is reduced by the amount of undistributed net income allocated to participating securities other than common units, as required under the two-class method. See Note 11—Net Income per Common Unit.

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net income	$ 1,347	$ 1,194
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	348	342
Amortization of discount and debt issuance costs	11	12
Total losses (gains) on derivative instruments, net	142	(121)
Net cash used for settlement of derivative instruments	(33)	(13)
Other, net	8	9
Changes in operating assets and liabilities:
Trade and other receivables	162	119
Trade and other receivables—affiliate	(58)	16
Trade receivables—related party	0	1
Advances to affiliates	(5)	(79)
Inventory	15	(3)
Accounts payable and accrued liabilities	(271)	(169)
Accounts payable and accrued liabilities—related party	0	(5)
Due to affiliates	(13)	(21)
Total deferred revenue	(23)	(16)
Other, net	(16)	(39)
Other, net—affiliate	(5)	(4)
Net cash provided by operating activities	1,609	1,223
Cash flows from investing activities
Property, plant and equipment	(297)	(128)
Other, net	(2)	(3)
Net cash used in investing activities	(299)	(131)
Cash flows from financing activities
Proceeds from issuances of debt and borrowings	1,903	265
Redemptions and repayments of debt and borrowings	(1,913)	(565)
Distributions	(1,007)	(1,025)
Other, net	(28)	(2)
Net cash used in financing activities	(1,045)	(1,327)
Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents	265	(235)
Cash, Cash Equivalents—beginning of period	201	379
Cash, Cash Equivalents—end of period	$ 466	$ 144

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 443	$ 182
Restricted cash and cash equivalents	23	19
Trade and other receivables, net of current expected credit losses	645	749
Advances to affiliates	165	145
Inventory	165	180
Prepaid expenses	62	42
Other current assets, net	17	21
Total current assets	1,520	1,338
Property, plant and equipment, net of accumulated depreciation	15,034	15,259
Operating lease assets	74	76
Deferred NPNS assets	669	0
Derivative assets	5	541
Other non-current assets, net	$ 377	$ 223
Other Receivable, after Allowance for Credit Loss, Current, Related and Nonrelated Party Status [Extensible Enumeration]	Affiliated Entity [Member]	Affiliated Entity [Member]
Total assets	$ 17,679	$ 17,437
Current liabilities
Accounts payable	82	53
Accrued liabilities	736	1,047
Current debt, net of unamortized discount and debt issuance costs	109	306
Deferred revenue	102	119
Current portion of deferred NPNS liabilities	103	0
Current derivative liabilities	93	164
Other current liabilities	17	19
Total current liabilities	1,242	1,708
Long-term debt, net of unamortized discount and debt issuance costs	14,335	14,161
Deferred NPNS liabilities	1,081	0
Derivative liabilities	27	900
Other non-current liabilities	240	254
Total liabilities	16,925	17,023
Partners’ equity
Common unitholders’ interest (484 million units issued and outstanding at both June 30, 2026 and December 31, 2025)	3,692	3,156
General partner’s interest (2% interest with 10 million units issued and outstanding at both June 30, 2026 and December 31, 2025)	(2,938)	(2,742)
Total partners’ equity	754	414
Total liabilities and partners’ equity	17,679	17,437
Nonrelated Party [Member]
Current assets
Trade and other receivables, net of current expected credit losses	349	511
Other current assets, net	16	21
Current liabilities
Accrued liabilities	693	990
Other current liabilities	12	15
Other non-current liabilities	221	231
Affiliate [Member]
Current assets
Trade and other receivables, net of current expected credit losses	296	238
Other current assets, net	1	0
Current liabilities
Accrued liabilities	43	57
Other current liabilities	5	4
Other non-current liabilities	$ 19	$ 23