Houston-based Cheniere Energy, Inc.(NYSEAMEX:LNG) has received investment support worth $500 million each from China's CIC and Government of Singapore Investment Corp for its liquefied natural gas export plant, A Reuters report said on Tuesday.
Cheniere Energy Partners has already got regulatory approval to build the first LNG export plant in the United States. The company has been looking for funds and the investments come at a time when there is increased focus on China's investment in North America's energy sector, the report said.
In July China's state-run CNOOC Ltd initiated the acquisition of Canada's Nexen Inc. for $15.1 billion, the biggest acquisition by any Chinese company overseas.
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Earlier Financial Times had first reported the deal without giving any value. It had said that Blackstone advised CIC on the deal.
Reuters said that a CIC spokeswoman did not comment while Blackstone and GIC were not available for comments.
Asian companies, especially the state-owned ones, have been looking overseas to increase their energy sources, and there has been a rash of deals in recent months.
In June Malaysia's Petronas said it would acquire its joint venture partner Progress Energy Resources of Canada for Canadian $4.8 billion.
Cheniere itself has been at the receiving end of a lot of interest from other institutions in Asia, such as Singapore's Temasek Holdings and RRJ capital. Both investment firms agreed to invest $468 million in the company in May.
Shares of LNG jumped 3.76% to $14.62.