Two Asian companies have agreed to invest $467.9 million in Houston-based Cheniere Energy Inc., which plans to build a multibillion-dollar natural gas liquefaction facility in Cameron Parish.
Temasek, a state-owned Singapore investment firm, said it had $193 billion in its portfolio as of March 31, 2011. RRJ Capitalis is a $2.3 billion private equity firm with offices in Hong Kong and Singapore. Together the companies will control 31 million shares of Cheniere.
Cheniere plans to use the money to help finance the proposed Sabine Pass LNG facility.
Temasek and RRJ have been investing heavily in energy-related companies. In April, the companies acquired $600 million of a $1.3 billion offering for Kunlun Energy Co. Ltd, a unit of PetroChina Co. Ltd. Kunlun is involved in the natural gas business and plans to use the money for potential acquisitions and to develop its LNG business.
In March 2011, a consortium led by Temasek and RRJ paid $3.5 billion to acquire 70 percent of Frac Tech Holdings LLC, a Texas-based hydraulic fracturing firm.
Cheniere said it, Temasek and RRJ are discussing a partnership to develop LNG sales, marketing and trading relationships and opportunities in Asian markets. The partnership would market LNG from the proposed Sabine Pass and Corpus Christi LNG liquefaction facilities.