# Blackstone-Led Group Agrees to Buy 49.9% Stake in LNG Canada’s Liquefaction Business By John Kim Canonical URL: https://www.tokenpost.com/news/business/46184 Published: 2026-11-02T06:33:47.000Z Updated: 2026-11-02T06:33:47.000Z Section: Business > The deal is valued at $3.1 billion. LNG Canada’s approved second phase is expected to double annual production capacity. A Blackstone-led investor group has agreed to pay $3.1 billion to acquire a 49.9% stake in LNG Canada’s liquefaction business from a Mitsubishi Corp. subsidiary. LNG Canada’s Kitimat terminal is oriented toward Asian markets. The deal concerns the liquefaction business, not LNG Canada as a whole. The project’s partners approved [an expansion expected to double annual capacity](), from 14 million metric tons per year to about 28 million metric tons per year. Commercial operations for the second phase are expected to begin in the early 2030s. ## Links in this article - [an expansion expected to double annual capacity](https://www.tokenpost.com/news/business/25276)