EIG Affiliate Takes Stake in Four Australian LNG Export Plants

MidOcean Energy, an affiliate of institutional energy investor EIG, said Friday it would acquire Tokyo Gas Co. Ltd.’s interests in four Australian LNG export terminals for $2.15 billion.

MidOcean is acquiring stakes in Chevron Corp.’s Gorgon liquefied natural gas plant, Inpex Corp.’s Ichthys LNG, Shell plc’s Queensland Curtis LNG and Woodside Energy Ltd.’s Pluto LNG facility. Tokyo Gas holds a 5% interest in Pluto and a 2.5% or less stake in the other three facilities spanning Australia’s western and eastern seaboards. 

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The transaction marks MidOcean’s entrance into the global LNG export market. EIG formed the firm to build an LNG...