Blackstone close to buying 50 pct shale asset stake from Shell

Blackstone Group is closing in on the deal with Royal Dutch Shell, regarding a 50% stake in a Louisiana gas field valued at $1.2 billion, source close to the matter told Reuters.

Representatives of both parties did not comment, regarding the news as rumours.

Shale gas has revitalized the U.S. gas market, and this asset that is located in Haynesville Louisiana would add to Blackstone’s energy holdings in the state after it invested in Cheniere’s liquefaction plant early in 2012.

LNG World News Staff, August 12, 2014; Image: Blackstone