Japanese company JERA announced that it would buy a nearly $2.5 billion stake in Freeport LNG.
This is equivalent to around a 26% stake in Freeport LNG Development (FLNG).
JERA, as of now, is the world’s largest purchaser of LNG – increasing its exposure to cheap U.S. gas is a solid move to secure demand for the future, a decision that might have been influenced by the high and volatile $30+ prices in the Asian markets witnessed this year.
In its public statement, JERA reported that it would “also work with FLNG to advance new LNG projects including production capacity expansion and the development of Train 4” at Freeport.
source: Gelber and Associates