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MIMI (Mitsubishi and Mitsui) acquires 14.7% equity in Browse LNG for US$2 billion


MIMI (Mitsubishi and Mitsui) acquires 14.7% equity in Browse LNG for US$2 billion

Report summary

Woodside Petroleum has accepted a US$2 billion offer from MIMI, the Mitsubishi Corporation and Mitsui & Co Joint Venture, for a 14.7% interest in the Browse LNG project. MIMI will also buy 1.5 million tonnes of Browse LNG from Woodside. The deal is subject to pre-emption and due to close in Q3 2012.Our base case valuation of the deal is US$782 million. The analysis is based on a 12 mmtpa greenfield LNG project at James Price Point, with FID in mid-2013 and first LNG in mid-2018. ...

What's included?

This report includes 1 file(s)

  • MIMI (Mitsubishi and Mitsui) acquires 14.7% equity in Browse LNG for US$2 billion PDF - 522.92 KB 7 Pages, 6 Tables, 1 Figures

Description

The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.

This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.

This Upstream Oil and Gas Deal Insight report provides an in-depth analysis of this deal. You will also find information about upstream assets and the strategic rationale behind the deal.

For investors and businesses, this deal insight report provides an understanding of the effect this deal will have on the market, including oil and gas pricing and assumptions. Use it to keep up to date with deal announcements, gain expert insights and analyse potential developments that might affect your strategy.

Wood Mackenzie goes beyond company-reported data and announcements to give you an independent and informed view. Our unique valuation metrics are underpinned by our deep understanding of upstream assets and companies. We help you objectively benchmark and evaluate asset and corporate deals so you can compare deal economics around the world.

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides and risks
    • Cost escalation
    • Delay to first gas
    • Partner mis-alignment
    • Reserve upside
  • Strategic rationale
    • Woodside Petroleum
    • MIMI (Mitsubishi and Mitsui)
    • Project Specific Pricing Assumptions
      • LNG
      • JCC
      • Condensate
  • Oil & gas pricing and assumptions

In this report there are 7 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Transaction details
    • Transaction details: Table 1
  • Upstream assets
    • Browse Fields location
  • Deal analysis
    • Deal analysis: Table 1
    • Deal analysis: Table 2
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions
    • Oil & gas pricing and assumptions: Table 1
    • Oil & gas pricing and assumptions: Table 2
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