Tokyo Gas has sold its stakes in four liquefied natural gas (LNG) projects in Australia to MidOcean Energy for US$2.15bn. Initiatives included in the agreement are the Gorgon, Ichthys, Pluto and Queensland Curtis LNG projects.
The facilities are located in the country’s west and east coasts and will supply LNG to Asia as well as Australia’s domestic market.
The four projects are expected to add almost a million tonnes per annum (mtpa) of LNG to MidOcean Energy’s production capacity. The company has been created and is managed by EIG.
The transaction will now be assessed by Australian authorities, with conclusion set for the first half of 2023.
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