business
Blackstone and Canadian Pension Funds Invest in LNG Canada Stake
Blackstone and Canadian pension funds agree to buy a 49.9-per-cent stake in a Mitsubishi subsidiary tied to LNG Canada.
Key points
- Investor group pays US$1.6 billion for a 49.9-per-cent interest in a Mitsubishi Corp. subsidiary.
- Group commits a further US$1.5 billion to fund LNG Canada expansion, for a total of $3.1 billion.
- LNG Canada's second phase would double annual output to 28 million tonnes from 14 million.
Why it matters. The deal is the first investment by Canadian funds in LNG Canada and signals rising interest from pension funds and global investors in Canadian infrastructure and energy.
Blackstone Inc. leads four major Canadian pension funds in agreeing on Monday to pay US$1.6 billion for a 49.9-per-cent interest in a Mitsubishi Corp. subsidiary. The group will also invest a further US$1.5 billion in expansion plans, bringing total investment to $3.1 billion, while Mitsubishi stays the controlling partner. LNG Canada's $18-billion terminal in Kitimat, B.C., opened in June 2025, and Mitsubishi will continue to take 2.1 million tonnes of liquefied natural gas a year.
Latest updates
Blackstone and Canadian Pension Funds Invest in LNG Canada Stake
Blackstone Inc. and four major Canadian pension funds are paying US$1.6 billion to acquire a minority interest in a Mitsubishi Corp. subsidiary. That subsidiary owns a 15% stake in LNG Canada's liquefaction facility in Kitimat, British Columbia. The investment is reported at a total of C$3.1 billion. The facility is in the midst of a planned phase 2 expansion, which was confirmed in late September. The transaction gives Canadian pension investors direct exposure to Canada's liquefied natural gas export infrastructure.