More foreign investment in our energy industry...

Asian firms invest in Cheniere’s natural gas export terminal

Cheniere Energy has reduced Blackstone’s $2 billion investment in its Sabine Pass LNG terminal and shifted the equity ownership to two Asian investment firms as part of an effort to diversify its stake in the project, Cheniere spokesman Andrew Ware said.

Temasek and RRJ Capital have agreed to make a combined $468 million equity investment in Cheniere, the company announced today. Blackstone’s commitment to the project was reduced to $1.5 billion.

The Sabine Pass liquefaction project is expected to be the first terminal in the lower-48 states to export liquefied natural gas. A natural gas glut on the U.S. market has caused the domestic price to plummet. Meanwhile, the demand for natural gas in Asia is surging, creating a more lucrative market for the fuel overseas.

In addition to investments from the Asian firms, Cheniere is dicussing a strategic partnership with Temasek and RRJ Capital to develop sales and marketing opportunities in Asia, the company said in a press release.
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