Blackstone unit acquires 49% stake in U.S. LNG facility

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Signage is seen outside The Blackstone Group headquarters in Manhattan, New York, U.S., November 12, 2021. REUTERS/Andrew Kelly

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May 20 (Reuters) - Blackstone Inc's (BX.N) credit investment unit said on Friday it has bought a 49% stake in a liquefied natural gas (LNG) facility in Georgia from private equity firm EIG Global Energy Partners.

The deal, whose terms were not disclosed, comes at a time of red-hot demand for U.S. LNG as Western sanctions on Russian fuel squeeze supply.

U.S. pipeline operator Kinder Morgan (KMI.N) will continue holding the remaining 51% of Elba Liquefaction Company.

The facility has the capacity to liquefy about 2.5 million tons of LNG per year for export, Blackstone Credit said in a statement.

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Reporting by Ruhi Soni in Bengaluru; Editing by Devika Syamnath

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