Abu Dhabi Wealth Fund Adds $615MM Cheniere Stake
(Bloomberg) -- Abu Dhabi’s main sovereign wealth fund disclosed a 5.1% stake in Cheniere Energy Inc., the largest U.S. exporter of liquefied natural gas.
Abu Dhabi Investment Authority disclosed its holding in a filing dated Monday, giving it an interest in Cheniere valued at $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 U.S., viewing the shipments also as a foreign policy tool for spreading American influence abroad. Since the U.S. 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 $580 billion in assets and is the world’s third-biggest government wealth fund, according to the SWF Institute.
--With assistance from Paul Wallace.
© 2020 Bloomberg L.P.
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