WASHINGTON: MidOcean Energy (“MidOcean”), a liquefied natural gas (LNG) company, formed and operated by EIG, a leading institutional investor in the global energy and infrastructure sectors, today announced the completion of the previously announced agreement to the acquisition of Tokyo Gas Co., Ltd’s (“Tokyo Gas”) interests in a portfolio of Australian integrated LNG projects.
The acquisition includes Tokyo Gas’s interests in the Gorgon LNG, Pluto LNG and Queensland Curtis LNG projects. The portfolio uses experienced operators, including Chevron, Woodside and Shell, and covers the LNG value chain, from upstream to intermediate operations, to liquefaction and sale. As part of the transaction, MidOcean will open an office in Perth, Australia, to support and oversee projects.
R. Blair Thomas, President and CEO of EIG, said: “We firmly believe in the role of LNG as a critical element of the energy transition and formed MidOcean to offer partners and investors differentiated exposure to this asset class. Thanks to With these core assets, MidOcean has had access to key projects and markets in Asia, which constitute the center of gravity of the global LNG business. De la Rey and his team have an ambitious growth strategy that includes further development and geographic expansion. Our focus on integrated projects is central to this strategy and offers MidOcean the opportunity to capture value across the entire LNG value chain.”
“The acquisition of these high-quality, cash-flowing LNG projects is a significant pillar of MidOcean’s strategy to build an integrated, diversified and global ‘pure play’ LNG company that supports the world’s transition to a sustainable future. low carbon emissions,” said De la Rey Venter, CEO of MidOcean. “This transaction accelerates our ambition to serve as a leading player in the global LNG industry for decades to come, and we look forward to serving key LNG customers in Japan, Asia and the rest of the world.”
Barrenjoey, Barclays and JP Morgan acted as financial advisors to EIG and MidOcean during the transaction. White & Case served as legal counsel to EIG and MidOcean.
About EIG
EIG is a leading institutional investor in the energy and infrastructure sector internationally, with $22.9 billion in capital under management as of December 31, 2023. EIG specializes in private investments in energy and energy-related infrastructure across the world. Since it was founded 41 years ago, EIG has invested more than $47.1 billion in the energy sector through more than 405 projects or companies in 42 countries on six continents. EIG’s clients include many of the largest pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the United States, Asia and Europe. EIG is headquartered in Washington, DC with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul.
About MidOcean Energy
MidOcean Energy, an LNG company formed and operated by EIG, seeks to build a diversified, resilient and carbon-competitive international LNG portfolio. It reflects EIG’s belief that LNG is a key resource for the energy transition and the growing importance of LNG as a strategic energy resource in geopolitical terms. MidOcean Energy is led by De la Rey Venter, a 26-year industry veteran who has held numerous senior executive positions, including Global Head of LNG for Shell Plc.
For more information, please visit EIG’s website at www.eigpartners.com or MidOcean Energy’s website at www.midoceanenergy.com.
Source: Business Wire
If you liked this article and want to always stay informed with news from GreenCity.it sign up for our free newsletter.
