JERA to Sell Part of Its Equity Interest in a Subsidiary Participating in the Freeport LNG Project in the United States2024/05/30

JERA Co., Inc. (“JERA”) holds, through Gulf Coast LNG Holdings LLC (“GCLH ”), a subsidiary of JERA Americas Inc., an approximately 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., Ltd. ("JAPEX") to sell 15% of its interest in GCLH to JAPEX (U.S.) Corp., a subsidiary of JAPEX, for approximately 380 million USD. As a result, JERA’s interest in FLNG will be equivalent to approximately 21.9%. We expect the agreement to 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.