DC-EIG
MidOcean Energy (“MidOcean”), a liquefied natural gas (LNG) company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors, today announced the completion of its previously announced agreement to acquire Tokyo Gas Co., Ltd’s (“Tokyo Gas”) interests in a portfolio of Australian integrated LNG projects.
The acquisition includes Tokyo Gas’ interests in the Gorgon LNG, Pluto LNG and Queensland Curtis LNG projects. The portfolio benefits from experienced operators, including Chevron, Woodside and Shell, and spans the LNG value chain from upstream operations to midstream, liquefaction and sales. As part of the transaction, MidOcean will open an office in Perth, Australia, to support and oversee the projects.
R. Blair Thomas, EIG’s Chairman and CEO said, “We are strong believers in the role of LNG as a key enabler of the energy transition and have formed MidOcean to provide partners and investors differentiated exposure to the asset class. With these foundational assets, MidOcean has entered key projects and markets in Asia, which form the center of gravity of the global LNG business. De la Rey and team have an ambitious growth strategy that is expected to build on this foundation and expand geographically. Our focus on integrated projects is central to the strategy and affords MidOcean the opportunity to capture value across the full LNG value chain.”
“The acquisition of these high quality, cash flowing LNG projects is a significant milestone in MidOcean’s strategy to build a diversified, global ‘pure play’ integrated LNG company that supports the world’s transition to a low-carbon future,” said De la Rey Venter, MidOcean’s CEO. “This transaction accelerates our ambition to be a leading player in the global LNG sector for decades to come, and we look forward to servicing key LNG customers in Japan, Asia and across the globe.”
Barrenjoey, Barclays and JP Morgan acted as financial advisors to EIG and MidOcean in connection with the transaction. White & Case acted as legal advisor to EIG and MidOcean.
About EIG
EIG is a leading institutional investor in the global energy and infrastructure sectors with $22.9 billion under management as of December 31, 2023. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 41-year history, EIG has committed over $47.1 billion to the energy sector through over 405 projects or companies in 42 countries on six continents. EIG’s clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul.
About MidOcean Energy
MidOcean Energy, an LNG company formed and managed by EIG, seeks to build a diversified, resilient, cost and carbon competitive global LNG portfolio. It reflects EIG’s belief in LNG as a critical enabler of the energy transition and the growing importance of LNG as a geopolitically strategic energy resource. MidOcean Energy is headed by De la Rey Venter, a 26-year industry veteran who has held a variety of senior executive roles, including Global Head of LNG for Shell Plc.
For additional information, please visit EIG’s website at www.eigpartners.com or MidOcean Energy’s website at www.midoceanenergy.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240327246932/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Bardstown Bourbon Company and Brindiamo Expand Relationship with First-of-its-kind Barrel Leasing Program9.12.2024 20:21:00 CET | Press release
Bardstown Bourbon Company, the leading custom American whiskey distiller and Brindiamo, the global leader in sourcing bulk whiskey, today announced an exclusive relationship to provide a market-leading barrel leasing program for whiskey brand contract distillation customers. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241209024956/en/ Bardstown Bourbon Company, the leading custom American whiskey distiller and Brindiamo, the global leader in sourcing bulk whiskey, will launch an exclusive barrel leasing program -- a timely, tailored solution for non-distilling brands. Roughly one-third of the cost of a new fill barrel is tied up in the wood used to make the barrel. This program allows brands to simplify this significant upfront expense into manageable monthly payments, offering customers the flexibility to plan for tomorrow while maintaining the cashflow to support their needs today. (Photo: Business Wire) As the whiskey
Bynder Kicks Off Peak Shopping Season by Serving a Record 6 Billion Assets - Powering Exceptional Global Content Experiences Online9.12.2024 16:07:00 CET | Press release
Bynder, a global leader in AI-powered enterprise DAM, has helped a number of global brands break Black Friday and Cyber Monday records by delivering exceptional content experiences at scale across a number of worldwide e-commerce channels. During the seven day period (November 27 - Dec 2 2024) which included Black Friday, Small Business Saturday, and Cyber Monday, Bynder’s Content Experiences (CX) for Omnichannel solution was responsible for serving more than 6 billion assets to over 70,000 websites, with more than 4.5 billion asset transformations undertaken. The figures represent a 15% increase in assets delivered vs 2023, plus 67% more assets were delivered through CX for Omnichannel on Black Friday than an average day in 2024. Customers such as Sur La Table, Bose, Raymour & Flanigan and Puma used CX for Omnichannel to deliver targeted and optimized content at scale to their digital channels over the busiest shopping days. Bynder customers were able to utilize the assets stored in t
NIQ, World Data Lab, and SPATE launch "Beauty Futures" Report - A guide to generational journeys of global beauty buyers9.12.2024 15:00:00 CET | Press release
Comprehensive report reveals generational beauty spending trends and preferencesMillennials drive the highest growth at US$193 Billion overtaking Gen X by 2034Gen X lead beauty spending in 2024, with an expected $150B increase over the next decade NielsenIQ (NIQ) collaborated with World Data Lab and SPATE to release a comprehensive generational report purely focused on the beauty market in the next decade. The report reveals key insights into generational preferences, spending habits, values, priorities, motivators, shopping behaviors, and their influence on global beauty trends. It highlights the crucial role each generation will play in shaping consumer preferences and spending over the next decade. Millennials will be at the helm of this trend by driving nearly half of global beauty spend at US$ 193 Billion with Gen Z coming a close second at US$ 158 Billion. The global beauty industry is seeing unprecedented growth at US$ 1.1 Trillion, with a projected growth of US$ 700 Billion by
SLB adds AI-driven geosteering to its autonomous drilling solutions to achieve more efficient and productive wells9.12.2024 14:29:00 CET | Press release
Intelligent closed-loop drilling system dynamically responds to subsurface geological informationKeeps well trajectory in the “sweet spot” of the reservoir for maximum productionImproves efficiency — minimizing the carbon footprint of drilling operations Global energy technology company SLB (NYSE: SLB) introduces Neuro™ autonomous geosteering, which dynamically responds to subsurface complexities to drill more efficient, higher-performing wells, while reducing the carbon footprint of the drilling operations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241127402342/en/ Using AI, Neuro geosteering integrates and interprets complex real-time subsurface information to autonomously guide the drill bit through the most productive layer or “sweet spot” of the reservoir. (Photo: Business Wire) Using artificial intelligence (AI), Neuro geosteering integrates and interprets complex real-time subsurface information to autonomously g
DeepGreenX Group and Hues Capital Launch $10 Billion USD Fund to Accelerate AI, Green Energy, and Computing Power9.12.2024 13:00:00 CET | Press release
New DXG-Hues Fund will target innovative enterprises and solutions in these transformative ecosystems worldwide DeepGreenX Group Inc. (“DeepGreenX,” “DXG,” or the “Company”), an AI-enabled green energy and technology company, and Hues Capital (“Hues”), a leading capital provider enabling financial technology ecosystems, AI, and green energy enterprises, jointly announced the formation of a new $10 billion USD fund (the “Fund”) to drive global advancements in AI, green energy, and computing power and accelerate sustainability initiatives worldwide. DeepGreenX and Hues will each hold a 50% stake and act as co-general partners in the $10 billion USD DXG-Hues parent fund, which will be based in the EU and comprise two $5 billion USD sub-funds: the DXG-Hues AI Computing Infrastructure Fund and the DXG-Hues AI Energy Fund. The former will focus on global investments in AI computing power and green energy infrastructure projects, while the latter will target emerging enterprises in the fields
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom