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:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
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