Blackstone Inc.’s credit investment unit said on May 20 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 Inc. will continue holding the remaining 51% of Elba Liquefaction Co.
The facility has the capacity to liquefy about 2.5 million tons of LNG per year for export, Blackstone Credit said in a statement.
Recommended Reading
PHX Insists Shareholders Reject WhiteHawk’s Latest Offer
2024-11-14 - PHX Minerals’ board maintained its stance on Nov. 14 that WhiteHawk’s latest offer was not in the best interest of its stockholders.
Ovintiv Swaps the Uinta for Montney in Multiple M&A Moves
2024-11-15 - Ovintiv is expanding greatly in the Canadian Montney Shale play through a US$2.38 billion deal with Paramount Resources and exiting the newly booming Uinta Basin in Utah with a $2 billion sale to FourPoint Resources.
Oxy CEO Sheds Light on Powder River Basin Sale to Anschutz
2024-11-14 - Occidental is selling non-core assets in the Lower 48 as it works to reduce debt from a $12 billion Permian Basin acquisition.
Coterra Eyes Wolfcamp D, Penn Shale Upside with $3.95B Permian M&A
2024-11-15 - With $3.95 billion in Permian M&A, Coterra is adding new Delaware Basin locations in the Bone Spring, Harkey and Avalon benches—and eyeing upside from deeper zones.
Roth-Backed SPAC To Take Public Permian Gas, Helium Producer
2024-11-13 - A blank-check company backed by Roth Capital Partners and Craig-Hallum Capital Group aims to combine with Permian gas and helium producer New Era Helium.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.