MidOcean Energy announces strategic investment from Mitsubishi Corp.

Mitsubishi Corp. has been an active player in the LNG sector for over 50 years, with investments spanning 12 projects across eight countries. This partnership underscores both companies’ commitments to LNG and its role as a critical enabler of the energy transition. Mitsubishi Corp. has aimed to develop its business toward achieving a carbon-neutral society, while fulfilling its responsibility as a stable energy supplier and meeting the evolving needs of its customers.

This investment deepens MidOcean’s blue-chip investor base and builds on MidOcean’s 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.

De la Rey Venter, MidOcean Energy’s CEO, said: “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.”

R. Blair Thomas, EIG’s Chairman and CEO, said: “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.”

Read the article online at: https://www.tanksterminals.com/terminals/05042024/midocean-energy-announces-strategic-investment-from-mitsubishi-corp/