Blackstone-led group to buy 49.9% of LNG Canada

 A Blackstone-led investor group announced on Monday that it agreed to acquire a 49.9% non-controlling stake in a Mitsubishi Corporation subsidiary holding an interest in LNG Canada's liquefaction business for $3.1 billion.

The investment will be made by funds managed by Blackstone Credit & Insurance alongside several Canadian institutional investors, including CPP Investments, OMERS, the Investment Management Corporation of Ontario, and PSP Investments.

LNG Canada is the country's first and only large-scale liquefied natural gas export terminal. Its planned Phase 2 expansion is expected to double production capacity to 28 million tonnes per year, potentially making it one of the world's largest LNG facilities.

https://breakingthenews.net/Article/Blackstone-led-group-to-buy-49.9-of-LNG-Canada/67455025