Mitsubishi Agrees to $1.6 Billion LNG Canada Stake Sale to Blackstone

What exactly is Mitsubishi selling to Blackstone?

Mitsubishi is selling a 49.9% noncontrolling interest in a holding company that owns a 15% stake in LNG Canada, rather than selling 49.9% of the LNG Canada project itself.

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Why does the LNG Canada stake sale matter for Mitsubishi?

The transaction allows Mitsubishi to release capital from its existing infrastructure investment and share the financial burden of LNG Canada's expansion while maintaining control and its LNG supply and marketing business.

Why did Mitsubishi and Blackstone announce different transaction values?

Mitsubishi valued the transaction at approximately $1.6 billion, or ¥250 billion, while Blackstone announced a $3.1 billion investment by its funds and Canadian institutional partners for the same 49.9% interest; their announcements do not reconcile the different figures, so the amounts should not be treated as interchangeable.

Will Mitsubishi lose any LNG supply from the transaction?

No. Mitsubishi says its contracted LNG volumes and customers will remain unchanged, with the holding company's annual offtake expected to increase from 2.1 million to 4.2 million tonnes following the LNG Canada expansion.

Could the transaction benefit Mitsubishi shareholders?

The sale could improve capital efficiency and reduce Mitsubishi's direct funding exposure to the expansion without sacrificing LNG marketing volumes, although the company has not quantified the transaction's expected effect on future earnings or shareholder returns.

When will Mitsubishi's LNG Canada stake sale close?

The agreement had been announced but not completed as of November 2, 2026, and a Mitsubishi spokesperson told Reuters that closing was expected during November; investors should watch for transaction completion and progress on the expansion that would double LNG Canada's total annual capacity to 28 million tonnes.