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
Green Light for ConocoPhillips’ Eldfisk Nord
2024-02-28 - ConocoPhillips is expected to begin production at its Eldfisk Nord project before the first quarter ends.
TPH: Lower 48 to Shed Rigs Through 3Q Before Gas Plays Rebound
2024-03-13 - TPH&Co. analysis shows the Permian Basin will lose rigs near term, but as activity in gassy plays ticks up later this year, the Permian may be headed towards muted activity into 2025.
Barnett & Beyond: Marathon, Oxy, Peers Testing Deeper Permian Zones
2024-04-29 - Marathon Oil, Occidental, Continental Resources and others are reaching under the Permian’s popular benches for new drilling locations. Analysts think there are areas of the basin where the Permian’s deeper zones can compete for capital.
TotalEnergies Acquires Eagle Ford Interest, Ups Texas NatGas Production
2024-04-08 - TotalEnergies’ 20% interest in the Eagle Ford’s Dorado Field will increase its natural gas production in Texas by 50 MMcf/d in 2024.
To Dawson: EOG, SM Energy, More Aim to Push Midland Heat Map North
2024-02-22 - SM Energy joined Birch Operations, EOG Resources and Callon Petroleum in applying the newest D&C intel to areas north of Midland and Martin counties.