Under the agreement expected to close in November, funds managed by Blackstone Credit & Insurance will acquire a 49.9 per cent interest in Mitsubishi's holding firm for roughly $1.6 billion. The transaction comes directly after a September final investment decision by Shell and partners to double the British Columbia facility's total output to 28 million metric tons per year. Mitsubishi will tap Blackstone's financial resources to boost capital efficiency during this development phase. Furthermore, the holding company's annual LNG offtake is set to jump from 2.1 million to 4.2 million metric tons once expansion works conclude.
Key points
Mitsubishi is utilizing external institutional capital to fund major terminal expansion w…: Mitsubishi is utilizing external institutional capital to fund major terminal expansion while preserving its underlying balance sheet.
Customer deliveries remain insulated from the ownership transfer, with holding company of…: Customer deliveries remain insulated from the ownership transfer, with holding company offtake projected to reach 4.2 million metric tons annually.
The transaction targets a November closing date following the joint venture partners' rec…: The transaction targets a November closing date following the joint venture partners' recent investment decision.
Sources checked by our analysis pipeline: 1
TOKYO, Nov 2 : Japanese trading house Mitsubishi Corp said on Monday it will sell a 49.9 per cent interest in a holding company that owns its stake in the LNG Canada project to funds managed by Blackstone Credit & Insurance, a unit of Blackstone, for about $1.6 billion.
The holding company owns a 15 per cent stake in LNG Canada, the Shell-led export project in British Columbia that started production in June 2025.
• Mitsubishi said the deal would not affect its LNG offtake volumes or customer relationships.
• The holding company currently offtakes 2.1 million metric tons per year of LNG from the project, with volumes expected to double to 4.2 million tons a year after the LNG Canada expansion.
• The transaction follows the final investment decision announced by Shell and its partners in September on the LNG Canada Phase 2 expansion, a project that will double the facility's production capacity to 28 million tons a year.
• Mitsubishi said it would use Blackstone's financial resources to help advance the expansion while improving the capital efficiency of…
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The capital expenditure initiative directly targets substantial long-term volume growth to meet rising demand across the industrial and infrastructure sectors. By committing substantial financial resources, the producer aims to consolidate its market footprint with an aggressive production milestone set for the end of the decade. This development outlines a clear path for corporate scale and operational capability over the coming years.