Blackstone Unit Acquires 49% Stake in US LNG Facility
5/21/2022
(Reuters) — Blackstone Inc.'s credit investment unit said on Friday it has bought a 49% stake in an LNG facility in Georgia from private equity firm EIG Global Energy Partners.
The deal, whose terms were not disclosed, comes at a time of red-hot demand for U.S. LNG as Western sanctions on Russian fuel squeeze supply.
U.S. pipeline operator Kinder Morgan will continue holding the remaining 51% of Elba Liquefaction Company.
The facility has the capacity to liquefy about 2.5 million tons of LNG per year for export, Blackstone Credit said in a statement.
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Pipeline Project Spotlight
Owner:
Gaz-System, Energinet
Project:
Baltic Pipe
Type:
Baltic Pipe will transport Norwegian natural gas from the Norwegian North Sea via Denmark to Poland.
Length:
560 miles (900 km)
Capacity:
110 Bcf per annum
Start:
Q2 2020
Completion:
Q4 2022
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