Squadron takes full control of Port Kembla LNG project

By Adnan Bajic Squadron Energy, led by the Australian billionaire Andrew Forrest, has taken full control of the Port Kembla LNG project.

Courtesy of AIE

To remind, the project was proposed by Australian Industrial Energy (AIE), a company formed by Squadron Energy and Japan’s Marubeni Corporation and JERA.

Under the new agreement, Squadron Energy has acquired JERA’s 19.9 per cent and Marubeni’s 30.1 per cent interest in the project moving to 100 per cent ownership and operatorship of AIE.

Commenting on the move to acquire JERA’s and Marubeni’s respective interests, Squadron Energy chairman Michael Masterman said, the company is focused on accelerating the project development.

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