JERA acquires majority control of entity holding Australian Wheatstone LNG stake

Japanese power generator JERA has expanded its indirect stake in Chevron's Wheatstone liquefied natural gas project in Australia to 50.1 percent, Offshore Energy reported. The move gives JERA majority control of Pan Pacific Energy. [1]

Offshore Energy, Upstream Online, LNG Prime, and Baird Maritime all reported that JERA increased its participation in the Australian LNG development. The transaction was completed through a strategic share acquisition. [1][2][3][4]

To secure the majority holding, JERA acquired all shares held by the Japan Organization for Metals and Energy Security, known as JOGMEC, in Pan Pacific Energy, according to Offshore Energy. [1]

Offshore Energy reported that JERA made the acquisition to help secure long-term energy supplies for Japan. The Wheatstone LNG facility continues to be operated by Chevron. [1]