By Greg Roumeliotis
Aug 10 (Reuters) - Blackstone Group LP is close toa deal to buy a 50 percent stake worth $1.2 billion in a gasfield in Louisiana currently owned by Royal Dutch Shell, according to a person familiar with the matter.
The shale assets lie in the Haynesville Shale in Louisianaand Texas. Shale gas, or natural gas trapped in layered rock,has revitalized the U.S. gas market by providing an abundant newsupply source.
The source asked not to be identified because thediscussions are private.
The Wall Street Journal was first to report the news onSunday. A representative for Blackstone declined to comment. Arepresentative for Shell said it does not comment on speculationor rumor.
Shell entered the region in 2007 through a joint venturewith Canadian energy company Encana, the newspaperreported.
A deal would add to Blackstone's energy holdings inLouisiana. In February 2012, Blackstone agreed to invest $2billion in Cheniere Energy Partners LP, a deal that helpedCheniere finance construction of a gas-liquefaction plant inLouisiana for export markets. (Reporting by Greg Roumeliotis and Liana B. Baker; Editing byEric Walsh)
