![tokyo gas co.](/sites/default/files/styles/hart_news_article_image_640/public/image/2024/03/tokyo-gas-co.jpg?itok=BLMyWkAA)
MidOcean Energy completed the acquisition of Tokyo Gas Co.’s interests in a portfolio of Australian LNG projects. (Source: Shutterstock)
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
US Shale Leaders Set Pricing for Tamboran Resources’ IPO
2024-06-17 - Tamboran Resources’ appraisal wells indicate the Beetaloo Basin target formation is similar to the Marcellus Shale in its geophysical properties.
Aussie Shale’s Tamboran Resources Prices IPO in Range but for Fewer Shares
2024-06-27 - Among those buying the Australian shale-gas developer’s pre-trade shares were U.S. wildcatter Bryan Sheffield and completions pressure-pumper Liberty Energy.
Scott Sheffield Among Investors in Australian Shale Gas IPO
2024-06-27 - The operator who sold Pioneer Natural Resources Co. to Exxon Mobil in May for $59.5 billion joins his son Bryan Sheffield in shale gas investment Down Under.
BPX’s Koontz: The Rise of a Shale Man
2024-07-02 - CEO Kyle Koontz takes the reins of BPX Energy’s rapid onshore growth amid big changes at BP.
Halliburton Sees NAM Activity Rebound in ‘25 After M&A Dust Settles
2024-07-19 - Halliburton said a softer North American market was affected by E&Ps integrating assets from recent M&A as the company continues to see international markets boosting the company’s bottom line.