Abu Dhabi Takes $615 Million Stake in U.S. LNG Exporter
Abu Dhabi Takes $615 Million Stake in U.S. LNG Exporter
Abu Dhabi Takes $615 Million Stake in U.S. LNG Exporter
(Bloomberg) — Abu Dhabi's main sovereign wealth fund disclosed a 5.1% stake in Cheniere Energy Inc., the largest U.S. exporter of liquefied natural gas.
Abu Dhabi Investment Authority disclosed its holding in a filing dated Monday, giving it an interest in Cheniere valued at $615 million. It's Cheniere's fourth-largest shareholder, according to data compiled by Bloomberg.
The Trump administration has touted LNG exports as more than an economic boon for the U.S., viewing the shipments also as a foreign policy tool for spreading American influence abroad. Since the U.S. began shipping shale gas overseas in 2016, it's vaulted into the ranks of the world's top LNG suppliers. Houston-based Cheniere operates two export facilities: Corpus Christi in Texas and Sabine Pass in Louisiana.
ADIA has almost $580 billion