Area Interest growing18 Dec 2022 12:04
MidOcean , looking to grow and Tokyo had small stakes in below projects, maybe have
some bigger percentage ventures lined up to replace them, Tokyo and Osaka city gas
companies, still hold several 1.5 - 10% holdings across the Timor Sea, including at
Bayu and Sunrise.
MidOcean, with its ex shell connected CEO, might want in on a Group JV development, as might
Tokyo/Osaka, they and other leading Japanese companies, all given huge payments by Japan's
Government during the summer, to go out and SECURE Japans domestic supply into the future.
MidOcean Energy, an LNG company formed and managed by EIG, a leading institutional investor in the
global energy and infrastructure sectors, has entered into a definitive agreement with Tokyo Gas Co
Ltd to acquire Tokyo Gas’ interests in a portfolio of four Australian integrated LNG projects.
Under the terms of the agreement, MidOcean will acquire Tokyo Gas’ interests Gorgon LNG, Ichthys LNG,
Pluto LNG and Queensland Curtis LNG for total cash consideration of US$2.15 billion.
June 2022, EIG announced that LNG veteran De la Rey Venter, formerly with Shell, joined MidOcean as CEO,
bringing 25 years of experience in global LNG operating, dealmaking and business leadership.
Venter added: “With the announcement, MidOcean is taking the first step toward realising its vision to
build a material pure play LNG business that we expect will support the world’s transition to a net zero
future.
The portfolio benefits from experienced operators, including Chevron, INPEX, Woodside and Shell, and
spans the LNG value chain from upstream operations to midstream, liquefaction and sales.
We see a number of opportunities to further expand MidOcean’s position in supplying LNG markets
around the world and look forward to working with our new partners and customers.”
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