JERA sells equity stake in Freeport LNG (U.S.) to Japan Petroleum Exploration Co.
- JERA plans to sell an equity stake in Freeport LNG to Japan Petroleum Exploration Co., Ltd.
JERA Co., Inc. holds, through Gulf Coast LNG Holdings LLC (GCLH ), a subsidiary of JERA Americas Inc., an approximately 25.7% interest in Freeport LNG Development, L.P., which operates the Freeport LNG project in the U.S.
JERA has approved a proposed agreement with Japan Petroleum Exploration Co., Ltd. (JAPEX) to sell 15% of its interest in GCLH to JAPEX (U.S.) Corp., a subsidiary of JAPEX, for approximately $380 MM. As a result, JERA’s interest in Freeport LNG will be equivalent to approximately 21.9%. JERA expects the agreement to executed in June 2024.
JERA decided to sell part of its interest as a result of a careful assessment for optimizing JERA’s asset portfolio. JERA will continue to contribute to the stable operation of the Freeport LNG Project through its participation in FLNG.
Related News
Related News
![](/media/1042/gpenews_300x140.jpg)
- Power Knot LLC receives continued orders from ExxonMobil PNG for food waste digester consumables, spare parts
- Australia's Woodside Energy to buy US LNG developer Tellurian for $1.2 billion
- WhiteWater's ADCC Pipeline in South Texas begins transporting natural gas
- Gasum powers Equinor's platform supply vessel with bio-LNG
- Oman plans third LNG train, boosting domestic production to more than 15 MMtpy
- ONEOK to acquire Medallion and controlling interest in EnLink for $5.9 B
- Desert Mountain Energy Corp. initiates helium production
- WhiteWater's ADCC Pipeline in South Texas begins transporting natural gas
- Oman plans third LNG train, boosting domestic production to more than 15 MMtpy
- Brazil's fossil push undermines Lula's green ambitions
Comments