{"id":821812,"date":"2026-11-02T15:10:10","date_gmt":"2026-11-02T15:10:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/821812\/"},"modified":"2026-11-02T15:10:10","modified_gmt":"2026-11-02T15:10:10","slug":"blackstone-canadian-pension-funds-invest-3-1-billion-for-lng-canada-stake","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/821812\/","title":{"rendered":"Blackstone, Canadian pension funds invest $3.1-billion for LNG Canada stake"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

A liquefied natural gas tanker fills up at an LNG Canada facility in Kitimat, B.C., last year. A phase 2 expansion plan for the facility was confirmed in late September.ETHAN CAIRNS\/The Canadian Press<\/p>\n

Blackstone Inc. BX-N<\/a> and four major Canadian pension funds are paying US$3.1-billion to buy a minority stake in a Mitsubishi Corp. subsidiary that owns a share of LNG Canada\u2019s liquefaction business. <\/p>\n

The group is acquiring a 49.9-per-cent non-controlling interest in the subsidiary owned by Japanese-based Mitsubishi, which will stay the controlling partner. <\/p>\n

Blackstone is leading the investor group that includes Canada Pension Plan Investment Board, Ontario Municipal Employees Retirement System, Investment Management Corp. of Ontario and the Public Sector Pension Investment Board. <\/p>\n

LNG Canada operates the country\u2019s first natural-gas export terminal, opened in June, 2025. Mitsubishi owns a 15-per-cent stake in LNG Canada and will continue its agreement to offtake 2.1 million tonnes of liquefied natural gas annually. <\/p>\n

For nearly a year, Mitsubishi and LNG Canada\u2019s largest shareholder, Shell PLC SHEL-N<\/a>, have been considering altering their stakes<\/a> in the $18-billion LNG export terminal in Kitimat, B.C., to raise funds for expansion plans. <\/p>\n

Mitsubishi hired Royal Bank of Canada\u2019s capital markets arm to pursue a deal and both shareholders were reportedly fielding bids as early as this summer<\/a> from U.S.-based asset managers such as Blackstone and Apollo Global Management Inc.<\/p>\n

An expansion plan to build a second phase that will double LNG Canada\u2019s annual output from 14 million tonnes to 28 million was confirmed in late September<\/a>, which would make it one of the largest LNG facilities in the world. <\/p>\n

The stake in Mitsubishi\u2019s subsidiary that Blackstone and the pension funds are acquiring is valued at US$1.6-billion, and the total $3.1-billion investment includes the costs of planned capital expenditures for the phase 2 expansion project.<\/p>\n

Mitsubishi said in a news release that the deal allows it to tap into the deep financial resources that Blackstone and the Canadian pension funds bring to the table \u201cto advance the expansion project and further enhance the value of the business.\u201d<\/p>\n

Blackstone and CPPIB are investing through funds managed by their credit investment vehicles.<\/p>\n

\u201cThis announcement builds on our deep conviction in Canada, our partnership with the country\u2019s leading institutional investors and our ability to provide large corporates with flexible solutions to unlock value from their most critical assets,\u201d said Zachary Rubenstein, managing director for Blackstone Credit & Insurance, in a statement. <\/p>\n

Geoff Souter, CPPIB\u2019s head of real assets credit, said in a statement that LNG Canada is \u201ca high-quality, globally strategic asset with strong long-term fundamentals and attractive return potential for the CPP Fund.\u201d<\/p>\n

RBC advised Mitsubishi on the transaction, while Goldman Sachs and Scotiabank advised Blackstone. Kirkland & Ellis and Stikeman Elliott served as legal counsel to Blackstone. <\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: A liquefied natural gas tanker fills up at an LNG Canada facility in…\n","protected":false},"author":2,"featured_media":821813,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[1399,1387,1400,390,1377,1401,84,626,1376,1392,1393,1389,1378,1375,1294,1398,1397,1391,4176,1385,1412,1379,1380,80,1388,655,1382,1402,1383,1407,1408,1410,1405,1409,1403,1406,4174,4175,1381,1395,1396,229,1394,1404,1386,86,387,1390,56,54,55,1384,231,1411],"class_list":["post-821812","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-alberta","tag-arts-news","tag-bc","tag-breaking-news","tag-breaking-news-video","tag-british-columbia","tag-business","tag-canada","tag-canada-news","tag-canada-sports","tag-canada-sports-news","tag-canada-trafficcanada-weather","tag-canadian-breaking-news","tag-canadian-news","tag-economy","tag-education","tag-environment","tag-federal-government","tag-finance","tag-foreign-news","tag-globe-and-mail","tag-globe-and-mail-breaking-news","tag-globe-and-mail-canada-news","tag-government","tag-life-news","tag-lifestyle","tag-local-news","tag-manitoba","tag-national-news","tag-new-brunswick","tag-newfoundland-and-labrador","tag-northwest-territories","tag-nova-scotia","tag-nunavut","tag-ontario","tag-pei","tag-personal-finance","tag-personalfinance","tag-photos","tag-political-news","tag-political-opinion","tag-politics","tag-politics-news","tag-quebec","tag-sports-news","tag-technology","tag-travel","tag-trudeau","tag-uk","tag-united-kingdom","tag-unitedkingdom","tag-us-news","tag-world-news","tag-yukon"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/821812","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=821812"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/821812\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/821813"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=821812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=821812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=821812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}