JERA Co., Inc., a global energy company, has acquired all shares held by Japan Organization for Metals and Energy Security (JOGMEC) in Pan Pacific Energy K.K. (PEJ), the company through which JERA holds its interests in Australia's Wheatstone LNG project.
Other shareholders of PEJ include Mitsubishi Corp. and Nippon Yusen Kabushiki Kaisha (NYK Line).
Following the completion of the transaction on 2 October 2026, JERA's ownership interest in PEJ has increased to 50.1%, strengthening its position in the Wheatstone LNG project. The interests held by PE Wheatstone Pty Ltd (PEW), a subsidiary of PEJ, in the Wheatstone LNG project remain unchanged at 10% in the upstream gas field development and 8% in the LNG liquefaction project.
The Wheatstone LNG project processes and liquefies natural gas produced from offshore gas fields located off the coast of Western Australia at the Ashburton North facility. Since commencing production in 2017, the project has operated reliably and contributed to the stable supply of LNG to Japan. JERA procures approximately 5.2 million tpy of LNG from the project, making it one of the company's key LNG supply sources.
JERA Senior Managing Executive Officer and JERA Global Energy Solutions CEO, Irtiza Sayyed, said: “Reliable LNG supply is fundamental to energy security. This acquisition supports our strategy of securing stable and competitive LNG supply and will help meet Japan's energy needs and contribute to energy security across the Asia-Pacific region for years to come.”
