Abu Dhabi Wealth Fund Adds US$615 million Cheniere Stake

Abu Dhabi’s main sovereign wealth fund disclosed a 5.1% stake in Cheniere Energy Inc, the largest US exporter of liquefied natural gas.

Abu Dhabi Investment Authority disclosed its holding in a filing dated the 14^th September, giving it an interest in Cheniere valued at US$615 million. It’s Cheniere’s fourth-largest shareholder, according to data compiled by Bloomberg.

The Trump administration has touted LNG exports as more than an economic boon for the US, viewing the shipments also as a foreign policy tool for spreading American influence abroad.

Since the US began shipping shale gas overseas in 2016, it’s vaulted into the ranks of the world’s top LNG suppliers.

Houston-based Cheniere operates two export facilities: Corpus Christi in Texas and Sabine Pass in Louisiana.

ADIA has almost US$580 billion in assets and is the world’s third-biggest government wealth fund, according to the SWF Institute.

Source: Rigzone