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Blackstone Group Inc. said on Monday it would sell about 40 per cent of its stake in liquefied natural gas producer Cheniere Energy Inc.’s limited partnership to Brookfield Infrastructure Partners LP and its own affiliated company.

The filing did not disclose the deal value, but a Bloomberg report, citing people familiar with the matter, said Brookfield negotiated a US$34.25-per-unit sale price that values the deal at US$7-billion.

Blackstone will gain US$5-billion from the stake sale, the report said.

Cheniere, the largest LNG producer in the United States, owns a 48.6-per-cent stake in Cheniere Energy Partners LP, while Blackstone CQP Holdco LP and the public hold the rest.

The sale comes as demand for the superchilled fuel has been recovering after the coronavirus pandemic hurt exports and forced buyers to cancel cargoes.

Cheniere is moving the development of its sixth train at Sabine Pass in Louisiana to the second half of 2022, from the first half of 2023. Train 3 in Corpus Christi, Tex., will be substantially completed in the first half of 2021, it said in August.

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