Abu Dhabi takes $615m stake in US LNG exporter

SourceGulf Business
SectorEconomy
CountryUnited Arab Emirates

Abu Dhabi’s main sovereign wealth fund disclosed a 5.1 per cent stake in Cheniere Energy, the largest US 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 $615m. 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 US, viewing the shipments also as a foreign policy tool for spreading American influence abroad. Since the US 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 $580bn in assets and is the world’s third-biggest ...read more...