Latham & Watkins LLP Advises Blackstone Energy in $150 Million Private Placement, Funding Western LNG’s Ksi Lisims LNG and PRGT Projects.
Latham & Watkins LLP played a pivotal role in representing Blackstone Energy Transition Partners during Western LNG LLC’s successful $150 million private placement on December 30, 2024. This funding will provide essential financial support for the continued development of the Ksi Lisims LNG and Prince Rupert Gas Transmission (PRGT) projects, ensuring progress through to the expected Final Investment Decision (FID) later this year.
With previous private placements included, the total investment in these projects has now exceeded $265 million, in addition to the investments made by PRGT's previous owner.
The private placement was significantly supported by a commitment from Blackstone Energy Transition Partners, an affiliate of Blackstone Inc. (NYSE: BX), a global leader with over $1.1 trillion in assets under management. Blackstone’s substantial involvement underscores the market confidence in the strategic value of the Ksi Lisims LNG and PRGT projects.
“Blackstone’s anchor investment in this private placement demonstrates its confidence in the Ksi Lisims LNG and PRGT projects and confirms that our approach to delivering responsible, net-zero-ready energy infrastructure is aligned with market demand,” said Davis Thames, President and CEO of Western LNG. This statement highlights Western LNG’s commitment to developing sustainable energy solutions in line with global market needs.
David Foley, Global Head of Blackstone Energy Transition Partners, also commented on the investment’s strategic alignment: “Our investment in Western LNG reflects our commitment to seeking out high-quality projects with the potential to deliver attractive returns for our investors and contribute to global decarbonization efforts. Global demand for affordable, reliable, and more sustainable energy is increasing, and the development and construction of critical energy infrastructure is struggling to keep up. Western is ideally located to connect Canada’s immense low-cost natural gas reserves with Asia, the world’s largest and most rapidly growing market for liquefied natural gas.”
Latham & Watkins LLP’s corporate deal team, led by New York partners David Allinson and David Beller, alongside counsel Jessica Pisani, played a central role in facilitating the transaction. Additional support came from associates Ransel Potter, Victor Wang, and Jon Wakelin. The team also provided project finance guidance through New York partner Chirag Dedania and Houston partner Chris Peponis, with associate Andy Yuan.
New York partner Betty Huber offered insights on ESG issues, while tax matters were managed by partners Matthew Dewitz and Eric Kamerman. Other areas of the deal, including benefits and compensation, antitrust, and energy regulatory issues, were handled by partners Max Raskin, Farrell Malone, and Tyler Brown, with associates Taylor Lopez and Andy Yuan.
Latham & Watkins LLP is a leading global law firm known for its expertise in corporate, litigation, and transactional law. With over 2,000 attorneys in 14 countries, the firm advises clients across a wide range of industries, including technology, healthcare, finance, and energy. Founded in 1934, Latham & Watkins is renowned for its work with emerging companies, offering legal solutions for startups and growth-stage businesses. The firm’s Emerging Companies & Growth team helps navigate complex legal matters related to business formation, financing, and scaling, making it a trusted partner for innovative companies worldwide.
Western LNG LLC is a North American company focused on developing sustainable liquefied natural gas (LNG) projects. It is leading the Ksi Lisims LNG and Prince Rupert Gas Transmission (PRGT) projects in Canada, which aim to supply low-cost LNG to growing Asian markets. The company prioritizes environmental responsibility and is committed to delivering net-zero-ready energy infrastructure. Western LNG collaborates with global investors to fund and advance these key energy projects.
