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
ChampionX to Acquire RMSpumptools, Expanding International Reach
2024-03-25 - ChampionX said it expects the deal to extend its reach in international markets including the Middle East, Latin America and other global offshore developments.
Analysts, SLB Execs See Stability in $7.7B ChampionX Deal
2024-04-04 - The acquisition of ChampionX vaults SLB’s chemical production business to No. 1 globally and orients SLB's business toward resource recovery that is less tied to price volatility.
Marketed: Bendel Ventures 73 Well Package in Texas
2024-03-05 - Bendel Ventures LP has retained EnergyNet for the sale of a 73 well package in Iron and Reagan counties, Texas.
Marketed: EnCore Permian Holdings 17 Asset Packages
2024-03-05 - EnCore Permian Holdings LP has retained EnergyNet for the sale of 17 asset packages available on EnergyNet's platform.
CERAWeek: Exxon Mobil CEO Says Not Trying to Acquire Hess
2024-03-18 - CEO Darren Woods said Exxon Mobil is trying to secure preemption rights over Hess Corp.'s Guyana assets in its dispute with Chevron, not buy the company itself.