Blackstone Inc.’s credit investment unit said on May 20 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 Inc. will continue holding the remaining 51% of Elba Liquefaction Co.
The facility has the capacity to liquefy about 2.5 million tons of LNG per year for export, Blackstone Credit said in a statement.
Recommended Reading
Report: Freeport LNG Hits Sixth Day of Dwindling Gas Consumption
2024-04-17 - With Freeport LNG operating at a fraction of its full capacity, natural gas futures have fallen following a short rally the week before.
Permian NatGas Hits 15-month Low as Negative Prices Linger
2024-04-16 - Prices at the Waha Hub in West Texas closed at negative $2.99/MMBtu on April 15, its lowest since December 2022.
BP Starts Oil Production at New Offshore Platform in Azerbaijan
2024-04-16 - Azeri Central East offshore platform is the seventh oil platform installed in the Azeri-Chirag-Gunashli field in the Caspian Sea.
US Could Release More SPR Oil to Keep Gas Prices Low, Senior White House Adviser Says
2024-04-16 - White House senior adviser John Podesta stopped short of saying there would be a release from the Strategic Petroleum Reserve any time soon at an industry conference on April 16.
Core Scientific to Expand its Texas Bitcoin Mining Center
2024-04-16 - Core Scientific said its Denton, Texas, data center currently operates 125 megawatts of bitcoin mining with total contracted power of approximately 300 MW.