Marubeni Corporation (Marubeni), JERA Co., Inc. (hereinafter, “JERA”) and
Squadron Energy Pty Ltd (hereinafter, “Squadron”), a subsidiary of Australia's Minderoo
Group, signed a Memorandum of Understanding under which they will conduct a joint
feasibility study regarding establishing an LNG import terminal and gas supply project in
New South Wales (hereinafter, “NSW”), Australia.
The focus of the feasibility study is a potential project to develop an LNG import terminal at
an existing port in NSW, which will include chartering a Floating Storage and Regasification
Unit (hereinafter, “FSRU”), construction of associated onshore and offshore facilities, and
provision of gas to local customers in NSW.
Marubeni has been operating in Australia for over 50 years and has significant energy
expertise in Australia, as well as considerable experience in global FSRU business. JERA
has expertise and long experience in LNG procurement and import terminal operations.
Marubeni and JERA are pleased to be able to partner with Squadron, an Australian energy
company with strong relations with local community and industrial players. Marubeni and
JERA together with Squadron, will combine their expertise in undertaking the study, which
will include initiation of gas marketing in NSW as well as making soundings regarding
procurement of LNG through JERA’s global network.
Marubeni and JERA believe that this FSRU-based project can be completed and commence
the supply of LNG to NSW in timely manner, which will contribute to the stability and
diversity of energy sources available to NSW, where gas supplies are expected to remain
tight in upcoming years. Marubeni and JERA think that this project fits well with and will
enhance the robust relationship between Australia and Japan, and will contribute to the
availability of stable supplies of LNG not only in Australia and Japan, but also in the Asia
Pacific region.
The Minderoo Group encompasses the philanthropic and commercial activities of Andrew
and Nicola Forrest. The Group pursues innovative opportunities, with a particular focus on
forward looking investments. In addition to a 33% shareholding in the Fortescue Metals
Group, the Group holds a number of pastoral leases, property investments, Harvey Beef
and a suite of energy and mineral projects.
Squadron Energy is a 100% owned subsidiary of the Minderoo Group and is focused on
exploration and development projects in the oil, gas, renewable energy and energy
infrastructure sectors.
