Blackstone on Sept. 24 closed the sale of its stake in Cheniere Energy Partners LP valued at $7 billion, representing the culmination of the firm’s involvement with the Houston-based LNG producer.

In 2012, Blackstone Energy Partners and its affiliates invested $1.5 billion in Cheniere Energy Partners to build the first two liquefaction trains at the Sabine Pass LNG facility in Louisiana—the first LNG export facility in the Lower 48.

“Blackstone’s early equity commitment to Cheniere enabled the timely construction of Sabine Pass, the first LNG export facility in the lower 48 states and one of the largest construction projects in the U.S.,” David Foley, global head of Blackstone Energy Partners, said in a statement Sept. 24.

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