Private equity firm EIG pays $2.2 bln for LNG projects in Australia
Private equity firm EIG said Friday its MidOcean Energy portfolio company agreed to pay $2.15 billion to Tokyo Gas Co. Ltd. for interests in four Australian liquid natural gas (LNG) projects. The deal includes ownership stakes in Gorgon LNG, Ichthys LNG, Pluto LNG and Queensland Curtis LNG. EIG said the deal marks the launch MidOcean's strategy to construct a diversified, global pure-play, integrated LNG company. EIG chairman and CEO R. Blair Thomas said the acquisition provides MidOcean with an LNG portfolio "ideally positioned to supply key customers in Japan, Asia and across the globe for decades to come."
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