GLOBAL INFRASTRUCTURE PARTNERS AGREES TO PURCHASE A 25% EQUITY INTEREST IN FREEPORT LNG FOR $850 MILLION

GLOBAL INFRASTRUCTURE PARTNERS AGREES TO PURCHASE A 25% EQUITY INTEREST IN
FREEPORT LNG FOR $850 MILLION

NEW YORK, July 14, 2014 (GLOBE NEWSWIRE) -- Global Infrastructure Partners
(GIP), a leading, independent global infrastructure investor, announced today
that its second fund, Global Infrastructure Partners II, has agreed to acquire
from a consortium of institutional investors managed by Hastings Funds
Management (USA), Inc. and Zachry American Infrastructure, LLC (the Sellers)
an equity interest in Freeport LNG Development, L.P. (Freeport LNG), currently
anticipated to be 25% at closing with no further ownership in Freeport LNG by
the Sellers. The purchase price for the transaction is $850 million, subject
to certain milestones and purchase price adjustments. Freeport LNG is
developing a three-train liquefied natural gas (LNG) export facility at its
existing LNG receiving and regasification facility on Quintana Island, near
Freeport, Texas. The transaction is expected to close in the fourth quarter of
2014 (following financial closing for Trains 1 and 2 of the Freeport LNG
facility).

Adebayo Ogunlesi, Chairman and Managing Partner of GIP said "GIP is excited
about the opportunity to partner with Freeport LNG, a leading U.S. LNG
developer and operator. As the energy revolution in the U.S. turns it into a
major LNG exporter, Freeport LNG is one of a handful of projects at an
advanced stage of development. GIP has worked closely with Freeport LNG's CEO
Michael Smith and his experienced management team and we look forward to
further developing our strategic relationship with Freeport LNG".

Michael Smith, Chairman and CEO of Freeport LNG said "We are extremely pleased
to welcome GIP, one of the world's largest and most experienced infrastructure
investors, to the Freeport LNG partnership. Over the past two years, we have
developed a strong relationship with GIP. We are excited about adding GIP's
proven capabilities, industry knowledge and financial strength to Freeport
LNG".

About Global Infrastructure Partners

Global Infrastructure Partners ("GIP") is an independent infrastructure fund
that invests worldwide in infrastructure assets and businesses in both OECD
and select emerging market countries. GIP targets investments in single
assets, and portfolios of assets and companies in power and utilities, natural
resources infrastructure, air transport infrastructure, seaports, freight
railroad, water distribution and treatment and waste management. GIP has
offices in New York and London, with an affiliate in Sydney and portfolio
company operations headquarters in Stamford, Connecticut. For more
information, visit www.global-infra.com.

CONTACT: Jack Cowell
         jack.cowell@global-infra.com
         +1 (212) 315-8133

Global Infrastructure Partners
 
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