JERA raises stake in Australia's Wheatstone LNG after buying out JOGMEC holding

Nippon Yusen Kabushiki Kaisha

14/10/2026 11:16

By Yuka Obayashi
TOKYO, Oct 14 (Reuters) - Japan's top power generator JERA said on Wednesday it had bought the entire stake held by the Japan Organization for Metals and Energy Security (JOGMEC) in a Japanese consortium that holds interests in Australia's Wheatstone liquefied natural gas project.
JERA bought JOGMEC's 42.08% stake in Pan Pacific Energy (PEJ), boosting its holding to 50.1% from 8.02%. The transaction was completed on October 2. Mitsubishi Corp 8058.T and Nippon Yusen 9101.T remain shareholders in PEJ.
A PEJ subsidiary's interests in Wheatstone remain unchanged at 10% in an upstream gas field development and 8% in the LNG liquefaction project.
Financial terms of the deal were not disclosed.
JERA said the acquisition would support its strategy of securing stable and competitive LNG supplies. Japan's biggest LNG buyer procures about 5.2 million metric tons a year from Wheatstone, one of its main supply sources.
Australia remains a strategically important LNG supplier for JERA, which said it would continue diversifying procurement across the Asia-Pacific region, the Middle East and the United States.
JERA, jointly owned by Tokyo Electric Power 9501.T and Chubu Electric Power 9502.T, said earlier this year it would sell its 0.417% stake in Australia's Gorgon LNG project to MidOcean Energy and its 0.735% interest in the Ichthys LNG project to Inpex 1605.T.
($1 = 158.4500 yen)

(Reporting by Yuka Obayashi; Editing by Kirsten Donovan)
((Yuka.Obayashi@thomsonreuters.com; +813-4520-1265;))