Blackstone Inc’s credit investment unit said on Friday it has bought a 49% stake in a liquefied natural gas (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.
Source: Reuters.com