CIC, GIC boost RRJ-backed Cheniere's LNG plant with $1b

A source told Reuters on Tuesday that the investment had taken place, while the Financial Times reported that Blackstone advised CIC on the transaction.

Cheniere Energy Partners, which is said to be 19.8%-owned by RRJ and Temasek, controls the Sabine Pass LNG project in Louisiana, America's first LNG export plant. The new capital will be used to support the development of the planned plant.

RRJ and Temasek are in talks with Cherniere, the energy unit's Houston-based parent, about forming a strategic partnership to develop LNG sales, marketing and trading relationships and opportunities across Asia.

Singapore-based RRJ is one of several regional private equity firms - such as Kerogen - to bulk up its energy sector expertise of late. In addition to investing in Cherniere Energy Partners, it also teamed up with Temasek in April to purchase almost half of the shares in a $1.34 billion offering by Kunlun Energy, and again in April 2011 to participate in the $3.5 billion buyout of Frach Tech Services, which supplies pumping equipment to the US oil and gas industry.

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• Topics
• Southeast Asia
• Infrastructure
• Infrastructure
• energy
• CIC
• GIC Private
• RRJ Capital
• Commodities