Mitsubishi to sell part of stake in Canada LNG project to Blackstone funds

Trading house looks to raise capital efficiency while continuing to invest Mitsubishi Corp. has a 15% stake in LNG Canada, a project in which natural gas from western Canada is conveyed via pipeline to the country's Pacific coast for liquefaction. (Mitsubishi Corp.) TOKYO -- Mitsubishi Corp. will sell part of its stake in a Canadian liquefied natural gas project to Blackstone funds for about $1.6 billion, the Japanese trading house announced on Monday, as it seeks to boost capital efficiency while funding a major expansion.