Blackstone and Canadian pension funds buy a US$3.1-billion stake in LNG Canada

Price of the stake

3.1 US$ billion

The group, led by Blackstone with CPP Investment Board and others, buys 49.9 per cent of the Mitsubishi subsidiary that holds 15 per cent of LNG Canada.

LNG Canada's partners approved a Phase 2 expansion on Sep 29 that would double capacity to about 28 million tonnes a year. The Mitsubishi deal is expected to close in November.

"We're now using our taxes and our retirement savings against us to harm our climate."

— Adam Scott, Shift Action for Pension Health