A representative for AustralianSuper told local media that Origin’s value was “better in the hands of members and other shareholders rather than a private equity consortium seeking to make a quick return based on the proposed scheme terms and we are pleased that this is the outcome”.
The Saudi company also noted the importance of gas. During the period, Aramco started up the Hawiyah gas plant expansion, increasing the facility’s capacity by 800 million cubic feet per day.
Saudi Aramco is looking for more acquisitions in LNG following a first-ever deal in the industry last month, as it sees growing demand for the fuel.
A Brookfield consortium and EIG’s MidOcean Energy have agreed a deal to buy Origin Energy, which has power market and LNG interests in Australia.
Shell Executive Vice President: Integrated Gas West & CCUS De la Rey Venter is leaving the supermajor to take the reins at EIG-backed LNG specialist MidOcean Energy.