Tokyo Gas sells interests in four Australian LNG projects to present room for further energy transition investments

Japan’s gas utility supplier Tokyo Gas has equipped minority interests in four liquified pure gas (LNG) projects off the waft of Australia, with law company Norton Rose Fulbright performing as appropriate counsel.

Thanks to this asset sale, EIG-managed MidOcean Energy acquired interests within the Gorgon, Queensland Curtis, and Pluto LNG projects. The latter is linked to the Scarborough gas discipline, which is being developed by Australia’s Woodside. With the principal three Pluto Prepare 2 modules arriving in Karratha in February, adopted by a refrigeration compressor module in April, the principal LNG cargo is soundless heading within the correct route for 2026.

As smartly as, Tokyo Gas divested its stake within the Ichthys LNG project, which Japan’s Inpex Company equipped following the announcement of the acquisition via Australian subsidiaries.

In response to the law company, the sale of the minority interests within the four LNG projects will enable Tokyo Gas to continue pursuing investments within the energy transition area, whereas helping to enact varied targets from its medium-period of time administration concept. 

Martin Irwin, a associate at Norton Rose Fulbright Australia, remarked: “Tokyo Gas’s sale of its minority interests in four LNG projects represents one among principal most contemporary transactions within the Australian energy sector and will again to bolster its ongoing investment within the energy transition. We acted for Tokyo Gas at some stage in and were overjoyed to befriend with the structuring and documenting of this kind of fancy transaction.”

Norton Rose Fulbright states that it has acted as an steady consultant to the Eastern participant since 2021 on varied parts of the sale of interests in LNG projects. A multidisciplinary crew comprising partners and senior mates, as smartly as groups across its Tokyo, London, Melbourne, Perth, Sydney, and Brisbane workplaces, equipped kill-to-kill reinforce for the divestment route of.

“We were overjoyed to bolster our client with this strategically principal transaction, and to command the multijurisdictional expertise and capabilities of our inappropriate-border crew to befriend Tokyo Gas over a protracted period to enact a successful final result. It used to be moreover a pleasure to bolster Tokyo Gas in its decarbonization plans,” highlighted George Gibson, associate and head of the law company’s Tokyo office.

MidOcean Energy has moreover enriched its portfolio with varied LNG projects. As acknowledged by EIG’s CEO, the company sees LNG as a key enabler of the energy transition, which is why it moreover bought an pastime in South The US’s Peru LNG.