JERA, one of the largest electricity producers in Japan, gained majority control of Pan Pacific Energy (PEJ) by purchasing all shares owned by the Japanese Organization for Metals and Energy Security (JOGMEC), thereby increasing its stake in the Wheatstone LNG project in Australia.
Transaction Details
The transaction was completed on October 2, 2026, raising JERA's stake in PEJ to 50.1 percent. This event strengthened JERA's position in the Wheatstone LNG project. Additionally, the stakes of PE Wheatstone (PEW), which is a subsidiary of PEJ, remained at 10 and 8 percent in the upstream gas field development and LNG liquefaction project, respectively.
Importance of the Wheatstone Project for Japan
The Wheatstone LNG project processes and liquefies natural gas produced from offshore gas fields along the western coast of Australia at the Ashburton North facilities. Since production began in 2017, this project has contributed to a stable supply of LNG for Japan. Australia, as a reliable and trustworthy LNG supplier, holds strategic importance for JERA, which annually secures about 5.2 million tons of LNG from this project.
JERA aims to continue its strong presence in key LNG projects in Australia while building a diverse LNG portfolio from various suppliers across the Asia-Pacific region, the Middle East, the United States, and other sources.
Comments from JERA Executives
Erteza Seyed, CEO of JERA Global Energy Solutions, stated: "Sustainable LNG supply is fundamental to energy security. This acquisition supports our strategy for sustainable and competitive LNG supply and will help meet Japan's energy needs and energy security across the Asia-Pacific region in the coming years." These remarks reflect JERA's commitment to strengthening energy infrastructure and meeting Japan's long-term energy needs.
