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Private equity firm EIG acquires Australian LNG projects for $2.2bn

MidOcean Energy, a portfolio company of private equity investor EIF, has acquired interests in four liquid natural gas (LNG) projects in Australia from Tokyo Gas Co Ltd for a combined $2.2 billion, according to a report by MarketWatch.

The deal, which marks the launch MidOcean’s strategy to construct a diversified, global pure-play, integrated LNG company, includes ownership stakes in Gorgon LNG, Ichthys LNG, Pluto LNG and Queensland Curtis LNG.

The report quotes EIG chairman and CEO R Blair Thomas as sating 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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