Blackstone Credit Acquires 49% Interest in U.S. East Coast LNG Infrastructure As… – Press Release

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Blackstone Credit has acquired EIG’s 49% ownership interest in Elba Liquefaction Company (“ELC”), a joint venture entity of the Elba Island LNG facility. Kinder Morgan KMI will remain as the operator and retain its 51% ownership of ELC.

ELC is an LNG liquefaction facility located near Savannah, Georgia. ELC began full commercial operations in August 2020 and is comprised of 10 Movable Modular Liquefaction Units with a nameplate capacity of approximately 2.5 million tons per annum of liquefied natural gas (LNG) for export, which is equivalent to approximately 350 million cubic feet (MMcf) per day of natural gas. ELC generates stable cash flow under a 20 year contract (plus extension rights) with an investment grade counterparty, providing long duration income to its owners.

J.P. Morgan Securities LLC acted as exclusive financial advisor and Milbank LLP served as Blackstone Credit’s legal counsel on the transaction.

About Blackstone and Blackstone Credit

Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $915 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

Blackstone Credit is one of the world’s largest credit-focused asset managers, with $230 billion in AUM. We seek to generate attractive risk-adjusted returns for our clients by investing across the entire corporate credit market, from public debt to private loans. Our capital supports a wide range of companies across sectors and…

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