China Investment Corporation (CIC), Beijing’s sovereign wealth fund, and Government of Singapore Investment Corporation (GIC) have each invested around US$500 million in a planned liquefied natural gas export plant being developed by American firm Cheniere Energy Partners (CQP.NYSE), Reuters reported, citing a source familiar with the matter. Blackstone (BX.NYSE), a private equity firm that has already invested US$2 billion in Cheniere, is reportedly advising CIC on its purchase. The Chinese sovereign wealth fund will probably avoid US regulatory scrutiny because it is co-investing with other big names, and because it will have no direct influence on Cheniere. The American firm has been searching for capital for some time to begin construction on what would be the first LNG export facility in the US. Temasek, another Singaporean sovereign wealth fund, and private equity fund RRJ Capital have already agreed to invest US$468 million in Cheniere.
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