Blackstone Group Inc. has closed the sale of its 42% stake in Cheniere Energy Inc.’s master limited partnership (MLP) in a transaction valued at $7 billion.

The private equity firm sold the units it held in Cheniere Energy Partners LP (CQP) to affiliate Blackstone Infrastructure Partners and Brookfield Infrastructure.

The firm first invested $1.5 billion in CQP in 2012 to build the first two liquefaction trains at the Sabine Pass liquefied natural gas (LNG) export terminal in Louisiana. CQP was spun-off to develop, own and operate Sabine Pass and went public in 2007. At that time, the facility was developed to import natural gas. 

“…Sabine Pass has successfully transitioned from a construction project to a global leader in the LNG sector,” said Sean Klimczak, global...