JERA holds, through Gulf Coast LNG Holdings LLC ('GCLH'), a subsidiary of JERA Americas Inc., an approx. 25.7% interest in Freeport LNG Development, L.P. ('FLNG'), which operates the Freeport LNG project in the United States.
JERA has approved a proposed agreement with Japan Petroleum Exploration Co. ('JAPEX') to sell 15% of its interest in GCLH to JAPEX (U.S.) Corp., a subsidiary of JAPEX, for approx. 380 million USD. As a result, JERA’s interest in FLNG will be equivalent to approx. 21.9%. The agreement is expected to be executed in June 2024.
JERA decided to sell part of its interest as a result of a careful assessment for optimizing JERA’s asset portfolio. JERA will continue to contribute to the stable operation of the Freeport LNG Project through its participation in FLNG.
Source: JERA
