Japan’s Mitsubishi Invests in EIG’s LNG Unit MidOcean Energy

Tuesday, April 2, 2024

MidOcean Energy, a global liquefied natural gas (LNG) company formed and managed by EIG, has secured a strategic investment from Mitsubishi Corporation, set to accelerate its strategy to create a global ‘pure play’ integrated LNG company.

The partnership underscores both companies’ commitments to LNG and its role as a critical enabler of the energy transition.

The investment deepens MidOcean’s blue-chip investor base and builds on its significant momentum since launching in late 2022. MidOcean recently announced the close of its acquisition of a portfolio of Australian LNG projects from Tokyo Gas.

 “We are thrilled to have Mitsubishi Corp join as an anchor investor in MidOcean Energy. Mitsubishi Corp has been a pioneer of the global LNG industry and has consistently demonstrated its expertise and foresight in identifying valuable opportunities.

“Their investment is a testament to the strong fundamentals of the LNG market and MidOcean’s strategy to create a competitive long-term growth platform in LNG for its investors,” said De la Rey Venter, MidOcean Energy’s CEO.

“Welcoming an industry heavyweight such as Mitsubishi Corp as an anchor investor and strategic partner accelerates MidOcean’s progress in creating a large-scale, pure play global LNG company.

“The world’s energy transition needs are contributing to rapid growth in global LNG demand, and we look forward to continuing to execute on this attractive and important opportunity alongside our investors and partners,” added R. Blair Thomas, EIG’s Chairman and CEO.

Categories: LNG Industry News Activity Asia North America

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