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Mitsubishi Corporation Makes Strategic Investment in EIG's MidOcean Energy
Mitsubishi Corporation Makes Strategic Investment in EIG's MidOcean Energy

Mitsubishi Corporation Makes Strategic Investment in EIG's MidOcean Energy

  • 03-Apr-2024 3:03 PM
  • Journalist: Jai Sen

On April 1, 2024, MidOcean Energy ("MidOcean"), a well-known liquefied natural gas (LNG) entity globally recognized for its management by EIG, a distinguished institutional investor in the global energy and infrastructure sectors, revealed a strategic investment from Mitsubishi Corporation ("Mitsubishi Corp"). This infusion of capital from Mitsubishi Corp is poised to expedite MidOcean's strategic vision of crafting a high-caliber, diversified, global 'pure play' integrated LNG enterprise. With over 50 years of active engagement in the LNG sector, Mitsubishi Corp boasts investments in 12 projects spanning eight countries. This collaboration underscores the unwavering commitments of both entities to LNG and its pivotal role as a catalyst for the energy transition.

Mitsubishi Corp is steadfast in its commitment to steer its business endeavors towards achieving a carbon-neutral society, while upholding its responsibility as a reliable energy provider and catering to the evolving demands of its clientele. This investment from Mitsubishi Corp not only enriches MidOcean's esteemed roster of blue-chip investors but also amplifies the momentum gained by MidOcean since its inception in late 2022. Notably, MidOcean recently finalized its acquisition of a portfolio comprising Australian LNG projects from Tokyo Gas.

De la Rey Venter, CEO of MidOcean Energy, expressed delight at Mitsubishi Corp's entrance as an anchor investor in MidOcean Energy, lauding Mitsubishi Corp as a trailblazer in the global LNG landscape with a proven track record of identifying lucrative opportunities. Venter emphasized that Mitsubishi Corp's investment serves as a testament to the robust fundamentals of the LNG market and affirms MidOcean's strategic vision of establishing a competitive long-term growth platform in LNG for its investors.

R. Blair Thomas, Chairman and CEO of EIG, extended a warm welcome to Mitsubishi Corp as a heavyweight player in the industry, highlighting that Mitsubishi Corp's involvement as an anchor investor and strategic partner will propel MidOcean's journey towards becoming a large-scale, globally focused LNG enterprise. Thomas underscored the surge in global LNG demand driven by the energy transition, underscoring the lucrative and crucial nature of this opportunity. He expressed enthusiasm for continuing to execute on this compelling endeavor alongside their investors and partners.

EIG is a leading institutional investor in the global energy and infrastructure sectors, overseeing assets amounting to $22.9 billion as of December 31, 2023. Specializing in private investments within the energy and energy-related infrastructure sectors worldwide, EIG boasts a rich history spanning 41 years, during which it has allocated over $47.1 billion to the energy sector across more than 405 projects or companies in 42 countries spread over six continents.

MidOcean Energy, an LNG enterprise established and overseen by EIG, endeavors to establish a diverse, robust, cost-effective, and carbon-competitive global LNG portfolio. This aspiration underscores EIG's conviction in LNG's pivotal role as a facilitator of the energy transition and the escalating significance of LNG as a strategically significant energy resource on the geopolitical front.  

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