Blackstone (NYSE: BX) has announced that private equity funds managed by Blackstone Energy Partners have closed the sale of their approximately 42 percent stake in Cheniere Energy Partners, L.P. to Brookfield Infrastructure and funds managed by Blackstone Infrastructure Partners.

The deal, which is said to value the approximately 42 percent stake at $7 billion, represents the culmination of Blackstone Energy Partners’ more than years of involvement with Cheniere, according to Blackstone. Back in 2012, Blackstone Energy Partners and its affiliates invested $1.5 billion in Cheniere Energy Partners to build the first two liquefaction trains at the Sabine Pass LNG facility in Louisiana.

“Blackstone’s early equity commitment to Cheniere enabled the timely construction of Sabine Pass, the first LNG export facility in the lower 48 states and one of the largest construction projects in the U.S.,” David Foley, the global head of Blackstone Energy Partners, said in a company statement.

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