Blackstone‑led consortium to buy 49.9% of LNG Canada from Mitsubishi
A consortium headed by Blackstone agreed to acquire a 49.9% non‑controlling interest in the liquefaction business of the Shell‑led LNG Canada project from a Mitsubishi subsidiary. Mitsubishi will keep a 50.1% stake and retain full offtake rights. The deal is slated to close in November 2026 and will fund the project’s Phase 2 expansion that will double export capacity to about 28 million tonnes per year.
Why it matters
The transaction gives Blackstone exposure to one of Canada’s largest LNG export assets, potentially enhancing its infrastructure portfolio and earnings from long‑term gas demand. Investors in Blackstone (BX) will see the company’s balance sheet reflect a $3.1 billion commitment for the stake, while the minority interest valuation remains uncertain.
Key facts
- 1The consortium will acquire a 49.9% interest in LNG Canada’s liquefaction business from a Mitsubishi subsidiary. seekingalpha.com
- 2Mitsubishi will retain a 50.1% stake and full LNG offtake rights. finance.yahoo.com
- 3Blackstone’s group has committed $3.1 billion to purchase the minority interest. lngprime.com
- 4Mitsubishi values the transaction at approximately $1.6 billion. finance.yahoo.com
- 5The deal is expected to close in November 2026. asktraders.com
- 6Phase 2 will double LNG Canada’s annual export capacity from 14 million tonnes to 28 million tonnes. finance.yahoo.com
Open questions
- Deal value is reported as $3.1 billion and $1.6 billion.
Summary written by AlphAI AI Desk from 6 of 6 sources. Not investment advice. Figures are as stated by the linked sources.