Reuters: Private Equity: UPDATE 1-Temasek, RRJ invest $468 mln in Cheniere Energy

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UPDATE 1-Temasek, RRJ invest $468 mln in Cheniere Energy May 7th 2012, 15:30 Mon May 7, 2012 11:30am EDT May 7 (Reuters) - Cheniere Energy Inc said it secured $468 million equity investment from Singapore state investor Temasek Holdings and private equity firm RRJ Capital to help fund its proposed liquefied natural gas export plant in Louisiana. Cheniere will use the investment and cash on hand to buy $500 million of the $2 billion of equity securities to be issued by Cheniere Energy Partners LP. Cheniere Energy Partners, which owns 100 percent of the Sabine Pass LNG project, is a master limited partnership (MLP) run by Cheniere Energy. Cheniere Energy owns 88.8 percent of the partnership. The company plans to build the LNG plant at Sabine Pass that would cool cheap U.S. natural gas for exporting as huge increases in domestic production have pushed gas prices way below global levels. In January-March natural gas prices have fallen 40 percent from last year to average $2.5 per million British thermal unit. Temasek, RRJ Capital and Cheniere Energy are also exploring strategic partnership to develop LNG sales, marketing and trading opportunities in Asian markets. The partnership will market LNG from the proposed Sabine Pass and Corpus Christi LNG liquefaction facilities. Cheniere Energy said in March it plans to build a second liquefied natural gas export plant at Corpus Christi in Texas. Shares of Cheniere Energy and Cheniere Energy Partners were down 2 percent on Monday on the American Stock Exchange.

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