⁍ Australian billionaire Andrew Forrest has bought the stakes of Japan’s JERA and Marubeni Corp in an LNG import terminal in the state of New South Wales.
⁍ Squadron Energy is committed to the expedited development of the gas import terminal.
– An Australian billionaire has bought a controlling stake in a planned gas import terminal in the state of New South Wales from Japan’s JERA, the world’s biggest liquefied natural gas buyer, Reuters reports. Andrew Forrest’s Squadron Energy bought JERA’s 30.1% interest and JERA’s 19.9% stake in Australian Industrial Energy, which is developing the project. “Squadron Energy is committed to the expedited development of the gas import terminal with the objective of having the capacity to supply 70% of NSW’s gas needs by late 2022,” the company said in a statement.
Source: https://www.reuters.com/article/australia-lng-imports-int/australian-billionaire-buys-out-japanese-partners-stakes-in-lng-import-project-idUSKBN274309