Latham & Watkins Advises Blackstone on Equity Investment in Western LNG

Western LNG LLC (Western) announced that on December 30, 2024, it completed a private placement of equity securities, securing over US$150 million in commitments. This funding fully supports the remaining development activities for the Ksi Lisims LNG and Prince Rupert Gas Transmission (PRGT) projects through to a final investment decision, expected later this year. Together with prior private placements, cumulative investment in support of these projects has reached more than US$265 million, over and above the investments in PRGT made by its previous owner. The private placement was anchored by a commitment from Blackstone Energy Transition Partners, an affiliate of Blackstone Inc. (NYSE: BX).

Latham & Watkins LLP represented Blackstone Energy Transition Partners in the transaction with a corporate deal team led by New York partners David Allinson and David Beller and counsel Jessica Pisani, with associates Ransel Potter, Victor Wang, and Jon Wakelin. Advice was also provided on project finance matters by New York partner Chirag Dedania and Houston partner Chris Peponis, with associate Andy Yuan; on ESG matters by New York partner Betty Huber; on tax matters by New York partners Matthew Dewitz and Eric Kamerman; on benefits and compensation matters by New York partner Max Raskin; on antitrust matters by Washington, D.C. partner Farrell Malone; and on energy regulatory matters by Washington D.C. partner Tyler Brown, with associate Taylor Lopez.