Blackstone-Led Group to Invest $3.1 Billion in LNG Canada Stake

A Blackstone-led group, alongside four Canadian institutional investors, agreed to invest $3.1 billion for a 49.9% noncontrolling interest in a Mitsubishi subsidiary holding its stake in LNG Canada’s liquefaction business. Mitsubishi will remain the controlling partner and retain its LNG offtake rights; the transaction is for part of the liquefaction business, not LNG Canada as a whole. The investment positions the group in a major Canadian LNG export project, whose approved second phase is expected to double annual capacity from 14 million to about 28 million metric tons, with operations anticipated in the early 2030s.