Blackstone-Led Investors Buy into LNG Canada for $3.1 Billion

1 billion, the asset manager said on Monday. 9% non-controlling stake in a unit of Mitsubishi Corporation that holds the Japanese firm’s 15% stake in LNG Canada. , Ontario Municipal Employees Retirement System, OMERS, the Investment Management Corporation of Ontario IMCO, and The Public Sector Pension Investment Board PSP Investments. The transaction to buy into the first Canadian LNG project comes weeks after its shareholders announced the final investment decision to proceed with Phase 2 of the plant in Kitimat, British Columbia.

The next phase will double the LNG liquefaction capacity of the Shell-led project in the early 2030s. Shell, the world’s biggest LNG trader, holds a 40% interest in LNG Canada and will receive nearly 6 mtpa of additional LNG from the expansion.