February 27, 2012
Cheniere Energy Partners, L.P. (NYSE Amex: CQP) has announced that it has entered into an exclusive arrangement with Blackstone Energy Partners L.P., Blackstone Capital Partners VI L.P., and certain affiliates (collectively, “Blackstone”) to finalize and execute definitive agreements under which Blackstone would purchase newly issued CQP Senior Subordinated Paid-in-Kind Units for $2 billion. CQP would use the proceeds of the Financing to fund the equity portion of the costs of developing, constructing and placing into service its Sabine Pass liquefaction project being developed at the Sabine Pass LNG terminal, the purchase of the Creole Trail pipeline from Cheniere Energy, Inc. and other partnership business purposes. Latham & Watkins LLP is advising Blackstone in the transaction with a corporate deal team led by New York corporate partners David Allinson and Charles Carpenter with associates Thomas Malone and Lillian Lardy. A multi-disciplinary team also provided counsel, including: Washington, D.C. partner Dennis Nordstrom and London partner Simon Dickens, with Washington, D.C. associate Nathan Read on finance matters; Houston partner Tim Fenn and New York partner Lisa Watts on tax; New York partner Bradd Williamson with associate Austin Ozawa on benefits and compensation; Washington, D.C. partner David Schwartz on energy regulatory matters; Washington, D.C. partner Tad Lipsky and Washington, D.C. counsel Sydney Smith on competition matters; Houston partner Joel Mack and New York counsel Matthew Ahrens, with associate Davon Collins on environmental matters; New York counsel Betsy Mukamal on real estate; and New York partner Jeffrey Tochner on intellectual property.