Blackstone-Led Investors Buy into LNG Canada for $3.1 Billion

The investors include Canada Pension Plan Investment Board, OMERS, IMCO, and PSP Investments. This transaction comes after the project's shareholders approved the final investment decision for Phase 2, which will expand the plant's liquefaction capacity by 2030. Shell, holding 40% of LNG Canada, will benefit from the expansion, receiving an additional 6 mtpa of LNG. Mitsubishi, which previously held 15% of the project, will maintain its LNG offtake volumes despite its stake being diluted. The project aims to supply cost-competitive gas to Asian markets, aligning with Canada's strategy to diversify its energy exports.