fbpx
Monday, March 8th, 2021
Home » Money » Abu Dhabi Takes $615 Million Stake in U.S. LNG Exporter

Abu Dhabi Takes $615 Million Stake in U.S. LNG Exporter

Photo: Business Wire

BLOOMBERG, SEPTEMBER 16, 2020

By Katrina Lewis for 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 (AIDA) 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 in assets and is the world’s third-biggest government wealth fund, according to the SWF Institute.

With assistance from Paul Wallace.

© 2020 Bloomberg L.P

Check Also

Tourists ride inside a vintage car as they pass by the Norwegian Sky cruise ship

Investors eye shares of hotels, cruise lines as U.S. vaccinations pick up

REUTERS, FEBRUARY 13, 2021 NEW YORK (Reuters) – Investors are watching next week’s earnings reports …

Passenger airplane tails

Exclusive: Dems set to back $50 billion+ for transportation sector

REUTERS, FEBRUARY 8, 2021 WASHINGTON (Reuters) – Democrats in the U.S. Congress are to release …