Blackstone-Led Group to Invest $3.1 Billion in LNG Canada Stake

A Blackstone Credit & Insurance-led group including CPP Investments, OMERS, IMCO and PSP Investments agreed to invest $3.1 billion for a 49.9% non-controlling stake in the Mitsubishi subsidiary that holds the trading house's 15% interest in LNG Canada. Mitsubishi Corporation remains the controlling partner and keeps its full LNG offtake rights on the Shell-led British Columbia export project, which began production in June 2025. Rick Campbell, Senior Managing Director at Blackstone Credit & Insurance, said: "We are proud to join Mitsubishi Corporation, a global leader with more than 50 years of experience across the LNG value chain, as a financial partner to support one of Canada's most significant energy projects." Mitsubishi announced the sale on Monday, Nov. 2, after Shell and partners' September 2026 final investment decision on Phase 2, set to double capacity from 14 million to about 28 million metric tons a year and lift offtake from 2.1 million to 4.2 million tonnes a year. Coverage splits on price: several reports use $3.1 billion, while Reuters puts the figure at about $1.6 billion for the same stake. A Mitsubishi spokesperson said the deal is expected to close in November.