MidOcean Energy Completes Acquisition of Tokyo Gas’ Australian LNG Interests
(P&GJ) — MidOcean Energy, managed by EIG, a prominent investor in the energy and infrastructure sectors, has finalized its acquisition of Tokyo Gas’ interests in a suite of Australian integrated LNG projects.
The acquisition encompasses Tokyo Gas’ stakes in the Gorgon LNG, Pluto LNG, and Queensland Curtis LNG projects. These projects, operated by industry leaders Chevron, Woodside, and Shell, cover the LNG value chain from upstream operations to midstream, liquefaction, and sales. MidOcean will establish an office in Perth, Australia, to oversee and support these ventures.
Blair Thomas, EIG’s Chairman and CEO, expressed confidence in LNG's role in the energy transition and highlighted MidOcean's commitment to providing unique exposure to the asset class. The acquisition marks a strategic move into vital Asian markets for MidOcean, leveraging a strong foundation in key LNG projects.
De la Rey Venter, CEO of MidOcean, emphasized the significance of the acquisition in realizing the company's vision of becoming a major player in the global LNG sector. The transaction aligns with MidOcean's ambition to contribute to a low-carbon future and serve key LNG markets worldwide.
Barrenjoey, Barclays, and JP Morgan served as financial advisors, while White & Case provided legal counsel to EIG and MidOcean throughout the transaction process.
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