Blackstone unit acquires 49% interest in U.S. East Coast LNG infrastructure
The credit investment unit of Blackstone Inc. has acquired a 49% ownership interest in Elba Liquefaction Co (ELC), from energy infrastructure private equity firm EIG Global Energy Partners.
ELC is an LNG liquefaction facility located near Savannah, Georgia which began full commercial operations in August 2020.
The facility is comprised of 10 movable modular liquefaction units with a nameplate capacity of approximately 2.5mn metric tons/year of LNG for export, which is equivalent to approximately 350mn ft3/day of natural gas.
Terms of the deal were not disclosed.