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.
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