Mitsubishi Invests in EIG's LNG Company MidOcean Energy
(Reuters) — Japanese trading house Mitsubishi has agreed to invest in MidOcean Energy, an LNG company owned by U.S. investment firm EIG, MidOcean said on Tuesday without giving details of the deal.
The investment by Mitsubishi, an active player in the LNG sector for over 50 years, will accelerate MidOcean's strategy to create a diversified, global, pure-play LNG company, it said.
The move deepens MidOcean's blue-chip investor base and builds on the company's significant momentum since launching in late 2022.
Mitsubishi in Tokyo declined to give any further details of the deal.
Saudi Aramco CEO Amin Nasser said last month that it may partner with MidOcean Energy to invest in LNG projects outside of Australia, having agreed last year to take a strategic minority stake in the company.
Last week, MidOcean announced the close of its acquisition of a portfolio of Australian LNG projects, including Gorgon LNG, Pluto LNG and Queensland Curtis LNG, from Japan's biggest city gas provider Tokyo Gas.
"We are thrilled to have Mitsubishi join as an anchor investor," MidOcean Energys CEO De la Rey Venter said in the statement.
"Their investment is a testament to the strong fundamentals of the LNG market and MidOceans strategy to create a competitive long-term growth platform in LNG for its investors."
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