TLDR: MidOcean Energy Receives Investment from Mitsubishi Corporation
Key Points:
- MidOcean Energy, a DC-based LNG company, received an investment from Mitsubishi Corporation.
- The amount of the deal was not disclosed, and Mitsubishi Corp has been active in the LNG sector for over 50 years.
In recent news, MidOcean Energy, a liquefied natural gas (LNG) company based in Washington, DC, received an investment from Mitsubishi Corporation. The specific amount of the deal was not disclosed, but Mitsubishi Corp has a long history of investments in the LNG sector, spanning across 12 projects in eight countries. The company plans to use the funds to establish a diversified, global ‘pure play’ integrated LNG company.
MidOcean Energy, led by CEO De la Rey Venter and managed by EIG, aims to build a cost-competitive global LNG portfolio. The company recently completed the acquisition of a portfolio of Australian LNG projects from Tokyo Gas. Venter expressed excitement about Mitsubishi Corp’s investment, highlighting their expertise in the LNG industry and their contribution to MidOcean Energy’s growth strategy.
EIG, an institutional investor with a focus on energy and infrastructure sectors, manages $22.9 billion in assets as of December 31, 2023. The company specializes in private investments in energy and energy-related infrastructure on a global scale, serving clients such as pension plans, insurance companies, and sovereign wealth funds. EIG is headquartered in Washington, D.C. with additional offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong, and Seoul.
