Tokyo Gas Company divests of Australian LNG shares

Australia

SYDNEY, October 10, 2022 – Tokyo Gas Company has agreed to transfer its shares of five LNG subsidiaries in Australia to US-based EIG Global Energy Partners, the Japanese gas distribution company announced on Monday.

The deal will see total shares in wholly owned Tokyo Gas Australia 1 transferred to EIG Global Energy Partners’ subsidiary MidOcean Energy Holdings.

The sold Australian entity has stake in the four following LNG ventures: Pluto, Gorgon, Queensland Curtis and Ichthys. The four projects are expected to produce around 1 million tonnes of LNG per year for MidOcean Energy Holdings.

The sale is expected to close in H1 2023 and is subject to approval by Australian authorities.

Cost of the transaction was not disclosed.

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