Blackstone unit acquires 49% stake in U.S. LNG facility
5/20/2022
(Reuters) - Blackstone Inc's credit investment unit said on Friday it has bought a 49% stake in a 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 MM tons of LNG per year for export, Blackstone Credit said in a statement.
(Reporting by Ruhi Soni in Bengaluru; Editing by Devika Syamnath)
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