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Eig's Midocean Energy Buys Additional Australian Lng Stakes From Jera
MidOcean raised its Gorgon LNG stake to 1.417%, adding uncontracted equity volumes and deepening collaboration with JERA to explore future LNG and energy opportunities.
- On March 11, 2026, MidOcean Energy entered definitive agreements to acquire JERA Gorgon Pty Ltd's 0.417% Gorgon LNG interest, raising MidOcean's stake to 1.417%.
- MidOcean framed the move as enhancing portfolio durability by adding uncontracted equity volumes and exploring a strategic alliance with JERA Co., Inc. to pursue further LNG opportunities.
- The deal also covers Ichthys interests and transfers, including JERA's 0.735% interest, with UBS and White & Case advising MidOcean and JPMorgan advising JERA; a source said the deal value is under $500 million.
- The deal will raise MidOcean's exposure to Chevron-operated Gorgon, strengthening its Asia-Pacific gas market footprint and bolstering its producing-asset portfolio, with closing expected in the first half of 2026.
- Gorgon comprises three LNG trains with about 15.6 Mtpa capacity, a source said JERA's sale reflects portfolio rebalancing tied to carbon intensity, and MidOcean is backed by EIG with $25.4 billion AUM as of December 31, 2025.
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EIG's MidOcean Energy to Acquire Additional Gorgon LNG Interest from JERA; Parties Explore Strategic Alliance
WASHINGTON -- MidOcean Energy (“MidOcean”), a liquefied natural gas (LNG) company formed and managed by EIG, today announced it has entered into definitive agreements with JERA Co., Inc. (“JERA”) to acquire JERA Gorgon Pty Ltd, which holds JERA’s 0.417% interest in the Gorgon LNG project. MidOcean is an existing participant in the Gorgon LNG project, and this transaction increases MidOcean’s interest in Gorgon to 1.417%. The transaction perimete…
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Leaning Left1Leaning Right3Center2Last UpdatedBias Distribution50% Right
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L 17%
C 33%
R 50%
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