Blackstone, Canadian Pension Funds Invest US$3.1B in LNG Canada Stake
James Bradshaw of The Globe and Mail reports Blackstone, Canadian pension funds invest $3.1-billion for LNG Canada stake: Blackstone Inc. 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’s liquefaction business. Mitsubishi owns a 15-per-cent stake in LNG Canada through a subsidiary and will stay the controlling partner of that entity. The investor group is acquiring a 49.9-per-cent non-controlling interest in the Mitsubishi subsidiary, or roughly half of Mitsubishi’s stake. 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. LNG Canada operates the country’s first natural-gas export terminal, an $18-billion facility in Kitimat, B.C., that opened in June, 2025. Under the deal announced Monday, Mitsubish...