Japan’s largest power generation company, JERA, has signed a deal to sell a part of its stake in the Texas-based Freeport LNG project to Japan Petroleum Exploration (JAPEX) for approximately $380m.
Under terms of the agreement, JERA will sell 15% of its equity stake in the project.
In addition to its investment in the project itself, JERA also holds an approximate 25.7% interest in Freeport LNG Development (FLNG), which operates the Freeport LNG project in Texas.
Post transaction, JERA’s interest in FLNG will be equivalent to approximately 21.9%.
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