Mitsubishi Corporation invests in LNG company MidOcean Energy

MidOcean Energy, an LNG firm backed by US-based investor EIG, on April 1 announced that Japan's Mitsubishi Corporation has made a strategic investment in the company. It did not disclose the value of the deal. 

MidOcean stated that this partnership underscores both companies’ commitments to LNG and its role as a critical enabler of the energy transition. Mitsubishi Corp has been an active player in the LNG sector for over 50 years, with investments spanning 12 projects across eight countries.

"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," De la Rey Venter, CEO of MidOcean Energy, said. 

For MidOcean Energy, this collaboration with Mitsubishi Corp represents another milestone in a series of recent transactions. In February of this year, the company acquired a stake in a Peruvian LNG facility from Korea's SK Earthon. Additionally, in September of last year, MidOcean welcomed energy giant Saudi Aramco as a minority investor.

MidOcean Energy also recently concluded the acquisition of a portfolio of Australian LNG projects from Tokyo Gas, further solidifying its position as a key player in the LNG market.