Cheniere Energy Partners, L.P. (CQP) and Cheniere Energy (LNG) Surge on Blackstone Investment
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Cheniere Energy Partners, L.P. (NYSE: CQP) and Cheniere Energy (NYSE: LNG) are surging in pre-open action Monday after a large investment in CQP from Blackstone (NYSE: BX).
Blackstone Energy Partners L.P. said it would purchase newly issued CQP Senior Subordinated Paid-in-Kind Units for $2 billion.
CQP would use the proceeds of the Financing to fund the equity portion of the costs of developing, constructing and placing into service its Sabine Pass liquefaction project being developed at the Sabine Pass LNG terminal, the purchase of the Creole Trail pipeline from Cheniere Energy, Inc. and other partnership business purposes.
LNG last traded at $17, up 21% and CQP last traded at $22.70, up 9%,
Blackstone Energy Partners L.P. said it would purchase newly issued CQP Senior Subordinated Paid-in-Kind Units for $2 billion.
CQP would use the proceeds of the Financing to fund the equity portion of the costs of developing, constructing and placing into service its Sabine Pass liquefaction project being developed at the Sabine Pass LNG terminal, the purchase of the Creole Trail pipeline from Cheniere Energy, Inc. and other partnership business purposes.
LNG last traded at $17, up 21% and CQP last traded at $22.70, up 9%,
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