Mitsubishi to sell down LNG Canada stake to Blackstone funds for $1.6 billion
FILE PHOTO: A screen displays Blackstone logo on the floor of the New York Stock Exchange (NYSE) in New York City, US, October 28, 2026. REUTERS/Jeenah Moon/File Photo
Read a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
TOKYO, Nov 2 : Japanese trading house Mitsubishi Corp said on Monday it will sell a 49.9 per cent interest in a holding company that owns its stake in the LNG Canada project to funds managed by Blackstone Credit & Insurance, a unit of Blackstone, for about $1.6 billion.
The holding company owns a 15 per cent stake in LNG Canada, the Shell-led export project in British Columbia that started production in June 2025.
• Mitsubishi said the deal would not affect its LNG offtake volumes or customer relationships.
• The holding company currently offtakes 2.1 million metric tons per year of LNG from the project, with volumes expected to double to 4.2 million tons a year after the LNG Canada expansion.
Guess Word
Crack the word, one row at a time
Buzzword
Create words using the given letters
Mini Sudoku
Tiny puzzle, mighty brain teaser
Mini Crossword
Small grid, big challenge
Word Search
Spot as many words as you can
• The transaction follows the final investment decision announced by Shell and its partners in September on the LNG Canada Phase 2 expansion, a project that will double the facility’s production capacity to 28 million tons a year.
• Mitsubishi said it would use Blackstone’s financial resources to help advance the expansion while improving the capital efficiency of its investment.
• The deal is expected to close in November, a Mitsubishi spokesperson said.($1 = 157.8200 yen)
Source: Reuters
Sign up for our newsletters
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
