Blackstone Energy Partners invested $1.5bn in 2012 in Cheniere Energy Partners to construct the Sabine Pass LNG facility


Blackstone completes sale of 42% stake in Cheniere Energy Partners. (Credit: Gerd Altmann from Pixabay.)

US-based asset management company Blackstone Group has completed the sale of about 42% stake in Cheniere Energy Partners to Brookfield Infrastructure and its own affiliated company for $7bn.

Cheniere Energy Partners is a limited partnership formed by a liquefied natural gas (LNG) producer Cheniere Energy.

The completion of the deal follows an announcement made last month to sell stake in Cheniere Energy’s limited partnership.

Blackstone’s energy-focused private equity business, Blackstone Energy Partners along with its affiliates provided $1.5bn in 2012 to Cheniere Energy Partners to construct the first two liquefaction trains at the Sabine Pass LNG facility in Louisiana.

Located in Cameron Parish, Louisiana, US, the LNG facility currently has five fully operational liquefaction trains, with each having a capacity of approximately 5mtpa.

Upon commissioning of the sixth train, the Sabine Pass facility will have a production capacity of approximately 30mtpa.

Sabine Pass is the first LNG export facility in the lower 48 states in US

According to Blackstone, Sabine Pass was the first LNG export facility in the lower 48 states in the US and provides a critical connection between the gas producers in North America and the growing international LNG demand centres.

Cheniere CEO Jack Fusco said: “Cheniere is grateful for the collaborative and mutually beneficial partnership we have had with Blackstone Energy Partners over the past eight years.

“Today, Sabine Pass is a world-scale LNG complex, providing flexible, reliable, and cost competitive U.S. LNG to markets worldwide, and I would like to thank David Foley and the Blackstone team for their contributions to Cheniere’s many successes.

“We still have much to accomplish at Cheniere, and I look forward to working alongside Blackstone Infrastructure Partners and Brookfield Infrastructure Management to achieve our shared goals.”