JERA Strengthens its Indirect Participation in Australia's Wheatstone LNG Project with Additional Share Acquisition2026/10/14

JERA Co., Inc. (JERA), a global energy company, today announced that it 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 Corporation and Nippon Yusen Kabushiki Kaisha (NYK Line).

Following the completion of the transaction on October 2, 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 tonnes of LNG annually 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."

Australia remains strategically important to JERA as a trusted and reliable supplier of LNG. JERA will continue to maintain a strong presence in key Australian LNG projects while building a diversified LNG portfolio through balanced procurement from the Asia-Pacific region, the Middle East, the United States and other sources. JERA remains committed to ensuring stable LNG procurement and operations while maintaining the flexibility and responsiveness needed during periods of market tightness, thereby contributing to the stable supply of energy in Japan and across the region.

About JERA
JERA is a global energy leader and Japan’s largest power generation company focused on providing cutting-edge solutions to the world's energy issues. Established in 2015, the company produces one-third of Japan’s electricity and is one of the largest LNG buyers in the world. JERA has global reach and strength throughout the energy supply chain, including participation in upstream gas exploration and production, LNG projects, fuel procurement and transportation, and power generation globally.
In support of a responsible energy transition, JERA aims to achieve net-zero CO₂ emissions from its domestic and overseas businesses by 2050.