Publications

Energy - MAY 26, 2022

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

Blackstone Credit acquires 49% stake in LNG liquefaction company

by Kali Persall

Blackstone Credit, one of the world’s largest credit-focused asset managers with $230 billion in assets under management, has acquired a 49 percent ownership interest in Elba Liquefaction Co. (ELC), a joint-venture entity of the Elba Island LNG facility.

ELC is an LNG liquefaction facility located near Savannah, Ga. The facility began full commercial operations in August 2020 and has a nameplate capacity of 2.5 million tons per year of LNG for export, which is equivalent to around 350 million cubic feet per day of natural gas.

Following the transaction, Kinder Morgan will remain the operator and retain its 51 percent ownership of ELC.

Blackstone’s $915 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment-grade credit, real assets and secondary funds.

Forgot your username or password?