Private equity firm EIG pays $2.2 bln for LNG projects in Australia

A portfolio business of the private equity firm EIG, MidOcean Energy, said on Friday.

it had reached an agreement to pay Tokyo Gas Co. Ltd. $2.15 billion for interests in four Australian liquefied natural gas (LNG) projects.

The agreement comprises equity holdings in Queensland Curtis LNG, Pluto LNG, Ichthys LNG, and Gorgon LNG.

EIG said that the transaction heralds the beginning of MidOcean's goal to become a diversified, international pure-play, integrated LNG enterprise. 

The acquisition gives MidOcean an LNG portfolio that is "perfectly positioned to serve important clients

In Japan, Asia, and around the world for decades to come," according to EIG chairman and CEO R. Blair Thomas.

It had agreed to pay $2.15 billion to Tokyo Gas Co. Ltd. in exchange for stakes in four Australian LNG projects.

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