Blackstone Leads $3.1 Billion Investment in Mitsubishi’s Stake in LNG Canada

A facts-only brief, written by a local AI model from this article in The Wall Street Journal, November 2, 2026. It may contain mistakes, and it is not the article: the full story is at wsj.com.

A Blackstone-led consortium announced Monday that it will invest $3.1 billion to acquire a 49.9% noncontrolling stake in a Mitsubishi subsidiary holding interests in the LNG Canada project. The investor group, which includes several Canadian pension funds, will join as a financial partner in the British Columbia facility. Mitsubishi stated that the transaction will not alter its existing liquefied natural gas offtake volumes or customer relationships.

Background

• LNG Canada is the country’s sole large-scale liquefied natural gas export terminal, currently operating with a joint venture structure involving Shell, Petronas, PetroChina, and Korea Gas.
• A phase-two expansion announced in September aims to double the facility’s annual production capacity to 28 million metric tons.
• Mitsubishi holds a 15% interest in the project, with an offtake commitment of 2.1 million tons annually that is expected to increase following the expansion.
• The Blackstone-led group includes the Canada Pension Plan Investment Board, Ontario Municipal Employees Retirement System, Investment Management Corp. of Ontario, and Public Sector Pension Investment Board.

Read the full article at wsj.com

More from Monday, November 2: