Blackstone Energy Partners is set to invest up to $800 million in a new Asian energy company.
The investment company’s energy-focused private equity business will partner with Kuala Lumpur-based Tamarind Energy, to focus on oil and gas development in South East Asia.
Tamarind Energy is a new exploration and production company, and the new partnership with Blackstone will enable the firm to grow significantly and become a key player in the oil and gas market in the region.
The International Energy Agency carried out a gas market report that was released earlier this year, which predicted a near doubling of Chinese demand for gas up to 2019. The $800 million investment echoes this, as the region is set to see huge growth over the coming years.