Blackstone Unit Acquires 49% Stake in US LNG Facility

Blackstone Inc.'s credit investment unit has bought a 49% stake in an LNG facility in Georgia and Kinder Morgan will continue holding the remaining 51%.

(Reuters) — Blackstone Inc.'s credit investment unit said on Friday 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 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.