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
- Greenlane Renewables continues to expand service business enhancing customer support and drive recurring revenue
- ClearSign Technologies Corp. announces purchase order for ClearSign Core M Series Process Burner for a gas processing facility
- Siemens Energy secures $1.6-B gas-fired power plant projects in Saudi Arabia
Related News
- EnviTec Biogas looks to expand biogas production into the U.S.
- Biogas in France: TotalEnergies starts its 2nd largest unit in Normandy
- ONEOK announces joint ventures with MPLX to build LPG export terminal at U.S. Gulf Coast location
- Ukraine plans to import 800 MMm3 of gas until April after Russian strikes
- Trump lifts freeze on U.S. LNG export permit applications
Comments