KUALA LUMPUR, April 2 (Bernama) -- MidOcean Energy (MidOcean), a global liquefied natural gas (LNG) company formed and managed by EIG, announced a strategic investment by Mitsubishi Corporation (Mitsubishi Corp).
According to EIG in a statement, Mitsubishi Corp’s investment will accelerate MidOcean’s strategy to create a high quality, diversified, global ‘pure play’ integrated LNG company.
EIG Chairman and Chief Executive Officer (CEO), R. Blair Thomas 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 partner,” Thomas said.
Meanwhile, MidOcean Energy CEO, De la Rey Venter said: “We are thrilled to have Mitsubishi Corp join as an anchor investor in MidOcean Energy. 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.”
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 aims 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 its significant momentum since launching in late 2022 as the corporation recently announced the close of its acquisition of a portfolio of Australian LNG projects from Tokyo Gas.
Headquartered in Washington D.C., the United States, EIG is a leading institutional investor in the global energy and infrastructure sectors, specialising in private investments in energy and energy-related infrastructure on a global basis.
-- BERNAMA
No comments:
Post a Comment