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Asian firms invest in Chenieres natural gas export terminal
Cheniere Energy has reduced Blackstones $2 billion investment in its Sabine Pass LNG terminal and shifted the equity ownership to two Asian investment firms as part of an effort to diversify its stake in the project, Cheniere spokesman Andrew Ware said.
Temasek and RRJ Capital have agreed to make a combined $468 million equity investment in Cheniere, the company announced today. Blackstones commitment to the project was reduced to $1.5 billion.
The Sabine Pass liquefaction project is expected to be the first terminal in the lower-48 states to export liquefied natural gas. A natural gas glut on the U.S. market has caused the domestic price to plummet. Meanwhile, the demand for natural gas in Asia is surging, creating a more lucrative market for the fuel overseas.
In addition to investments from the Asian firms, Cheniere is dicussing a strategic partnership with Temasek and RRJ Capital to develop sales and marketing opportunities in Asia, the company said in a press release.
http://fuelfix.com/blog/2012/05/07/asian-firms-invest-in-chenieres-natural-gas-export-terminal/?utm_source=WhatCountsEmail&utm_medium=FuelFix&utm_campaign=FuelFixNewsLetter
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(2,567 posts)Temasek Holdings is an investment company owned by the government of Singapore. With an international staff of 380 people, it manages a portfolio of about S$193 billion (US$157 billion) at end of March 2011,[2] focused primarily in Asia. It is an active shareholder and investor in financial services, telecommunications & media, technology, transportation, industrials, lifesciences, consumer, real estate, energy & resources.
http://en.wikipedia.org/wiki/Temasek_Holdings
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(2,567 posts)Singapores Temasek Holdings Pte. Ltd. and private-equity firm RRJ Capital are teaming up again to invest in the U.S.s natural gas boom.
On Tuesday, Houston-based liquefied natural gas company Cheniere Energy Inc. said Temasek and RRJ will jointly invest US$468 million for the company to develop its Sabine Pass liquefaction project in Louisiana. Cheniere is seeking billions of dollars in investment as it adds export capability to its import terminal. Cheniere fell deeply into debt after the U.S. natural gas boom made imports into the country