According to The Australian Financial Review, Woodside Energy has signalled it will consider using its pre-emption rights against a shock move by Japan’s Tokyo Gas to transfer its interest in the Pluto LNG project in Western Australia – part of a broader $US2.15 billion ($3.37 billion) deal announced recently – to US private equity firm EIG.
Tokyo Gas’ 5 per cent stake in Pluto is one of four minority interests held by the giant Japanese LNG buyer in Australian LNG projects that are set to pass to EIG’s new MidOcean Energy subsidiary in what is the first significant sign of a Japanese firm exiting gas ventures driven partly by the need to cut emissions.
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