The Blackstone fund is going to invest US$2bn into Cheniere group to allow the construction of the Sabine Pass LNG terminal -the first LNG terminal in the United States, which will allow the export of US shale gas production. The Cheniere group, which currently has outstanding debts, needs US$4.5m-US$5m to build the first two liquefaction trains, each with a nominal capacity of approximately 4.5 Mt/year. The LNG terminal will be built in Sabine Pass in Louisiana close to Cheniere unused regasifaction terminal due. The unused terminal is representative of the progress that has been made in US shale gas production. Currently the US does not import LNG any more as a result of domestic gas-shale production. The construction of the facility should begin by mid-2012 and it should be commissioned by 2016.
Blackstone is interested by the deal as the Cheniere has already signed four long-term customer sale and purchase agreements for 16 Mt/year of LNG. The customers include BG for 5.5 Mt/year, Gas Natural Fenosa for 3.5 Mt/year, KOGAS for 3.5 Mt/year and GAIL (India) for 3.5 Mt/year.
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