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Japan's Mitsubishi invests in EIG's LNG company MidOcean Energy
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Japan's Mitsubishi invests in EIG's LNG company MidOcean Energy
Apr 2, 2024 2:05 AM

TOKYO, April 2 (Reuters) - Japanese trading house

Mitsubishi ( MSBHF ) has agreed to invest in MidOcean Energy, a

liquefied natural gas (LNG) company owned by U.S. investment

firm EIG, MidOcean said on Tuesday without giving details of the

deal.

The investment by Mitsubishi ( MSBHF ), 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 ( MSBHF ) in Tokyo declined to give any further details of

the deal.

Saudi Aramco Chief Executive 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 ( TKGSF ).

"We are thrilled to have Mitsubishi ( MSBHF ) 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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