Stonepeak Takes $660M Stake In La. LNG Export Project

Law360, Washington (October 24, 2013, 2:21 PM EDT) -- Stonepeak Infrastructure Partners LP has agreed to provide $660 million for construction of Liquefied Natural Gas Ltd.'s Magnolia natural gas liquefaction project in Louisiana, in exchange for a 50 percent stake in the project, LNG Ltd. announced Thursday.

Under the terms of the deal, which is contingent on satisfactory leasing, construction and sales agreements and regulatory approval, Stonepeak will provide 100 percent of the equity needed for the commissioning and construction of the Lake Charles, La.-based gas liquefaction plant to LNG Ltd. subsidiary Magnolia LNG LLC,...
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