Japanese energy company JERA has completed the purchase of all shares held by the Japan Organisation for Metals and Energy Security (JOGMEC) in Pan Pacific Energy (PEJ), the entity it uses to invest in Australia’s Wheatstone LNG Project.
This transaction, which closed on 2 October 2026, brings JERA’s ownership in PEJ to 50.1%.
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The other shareholders of PEJ are Mitsubishi and Nippon Yusen Kabushiki Kaisha (NYK Line).
The underlying project interests are unaffected by the ownership change.
PE Wheatstone (PEW), a PEJ subsidiary, retains 10% participation in the offshore upstream gas development and an 8% stake in the onshore liquefaction venture.
Wheatstone, operated by Chevron, ranks among Australia’s largest resource developments and is described as the country’s first liquefied natural gas (LNG) hub.
Onshore processing and liquefaction infrastructure sits at the Ashburton North site, roughly 12km west of Onslow on Western Australia’s (WA) Pilbara coast.
The foundation project consists of two LNG trains delivering a combined 8.9 million tonnes per annum (mtpa), alongside a domestic gas plant.
The project received investment approval in 2011 and its first LNG shipment occurred in October 2017.
JERA senior managing executive officer and JERA global energy solutions CEO Irtiza Sayyed said: “Reliable LNG supply is fundamental to energy security.
“This acquisition supports our strategy of securing stable and competitive LNG supply and will help meet Japan’s energy needs and contribute to energy security across the Asia-Pacific region for years to come.”
For JERA, the project is a cornerstone of its supply strategy.
The company sources roughly 5.2mtpa of LNG from Wheatstone, ranking it among its most significant procurement channels.
Australia more broadly remains a priority supply region for the company, which also draws volumes from the wider Asia-Pacific area, the Middle East and the US as part of a deliberately diversified portfolio.
JERA said it would sustain its involvement in major Australian LNG ventures while ensuring it has the procurement stability and operational agility required to navigate tighter market conditions and support energy security across the region.
In June 2026, JERA took delivery of its first cargo of LNG from the Barossa Gas Project, operated by Santos, at the company’s Futtsu LNG terminal in Japan.
