Deal is a "one of the most significant recent transactions" in Australian energy sector
Norton Rose Fulbright (NRF) has advised Tokyo Gas Co, Ltd (Tokyo Gas) on the divestment of its minority stakes in four Australian liquefied natural gas (LNG) projects.
MidOcean Energy Holdings Pty Ltd, which is owned by US-based EIG Global Energy Partners, acquired stakes in the Gorgon, Pluto, and Queensland Curtis LNG projects. Meanwhile, INPEX CORPORATION took over the stake in the Ichthys LNG project.
The specifics of the deals were not disclosed, but Tokyo Gas has said that the proceeds from the sales will contribute to its continued investment in energy transition efforts.
NRF has been providing support on all facets of Tokyo Gas’ divestment since 2021. The team was spearheaded by partners George Gibson, Martin Irwin, and Julian Traill, along with several other key partners and associates across the firm’s global offices, including Tokyo, London, Melbourne, Perth, Sydney, and Brisbane.
Gibson, who heads the Tokyo office, commented on NRF’s involvement in the transaction, expressing satisfaction in the work done by the team.
“We were delighted to support our client with this strategically important transaction, and to use the multijurisdictional expertise and capabilities of our cross-border team to assist Tokyo Gas over an extended period to achieve a successful outcome,” said Gibson. “It was also a pleasure to support Tokyo Gas in its decarbonization plans.”
Irwin also offered his insights on Tokyo Gas’ divestment, calling it “one of the most significant recent transactions in the Australian energy sector.
“We acted for Tokyo Gas throughout and were delighted to assist with the structuring and documenting of such a complex transaction,” he said.
In other NRF news, the firm recently welcomed Lisa Fitzgerald as the latest partner in its Melbourne office. Fitzgerald joined the firm from Lander & Rogers, where she was co-head of its national digital economy practice.
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