EIG’s LNG company MidOcean Energy completed the acquisition of Tokyo Gas Co.’s interests in a portfolio of Australian LNG projects, MidOcean announced March 28.
The transaction includes Tokyo Gas’ interests in the Gorgon LNG, Pluto LNG and Queensland Curtis LNG projects. MidOcean said it will open an office in Perth, Australia, to oversee and support the projects.
Blair Thomas, EIG’s chairman and CEO, said LNG is a key enabler of the energy transition and added that MidOcean was formed to provide its partners and investors a different exposure to the asset class.
“With these foundational assets, MidOcean has entered key projects and markets in Asia, which form the center of gravity of the global LNG business,” Thomas said. “De la Rey [MidOcean’s CEO] and [the] team have an ambitious growth strategy that is expected to build on this foundation and expand geographically.”
Barrenjoey, Barclays and JP Morgan acted as financial advisers to EIG and MidOcean in the transaction.
Recommended Reading
Markman: Is MethaneSAT Watching You? Yes.
2024-04-05 - EDF’s MethaneSAT is the first satellite devoted exclusively to methane and it is targeting the oil and gas space.
BWX Technologies Awarded $45B Contract to Manage Radioactive Cleanup
2024-03-05 - The U.S. Department of Energy’s Office of Environmental Management awarded nuclear technologies company BWX Technologies Inc. a contract worth up to $45 billion for environmental management at the Hanford Site.
Belcher: Our Leaders Should Embrace, Not Vilify, Certified Natural Gas
2024-03-18 - Recognition gained through gas certification verified by third-party auditors has led natural gas producers and midstream companies to voluntarily comply and often exceed compliance with regulatory requirements, including the EPA methane rule.
CERAWeek: Energy Secretary Defends LNG Pause Amid Industry Outcry
2024-03-18 - U.S. Energy Secretary Jennifer Granholm said she expects the review of LNG exports to be in the “rearview mirror” by next year.
Laredo Oil Settles Lawsuit with A&S Minerals, Erehwon
2024-03-12 - Laredo Oil said a confidential settlement agreement resolves a title dispute with Erehwon Oil & Gas LLC and A&S Minerals Development Co. LLC regarding mineral rights in Valley County, Montana.