April 12, 2024

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EIG’s MidOcean Energy Announces Strategic Investment from Mitsubishi Company

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Anchor Expense Underscores Success of MidOcean’s Progress Method

WASHINGTON — MidOcean Energy (“MidOcean”), a world liquefied purely natural fuel (LNG) corporation shaped and managed by EIG, a major institutional trader in the world-wide electricity and infrastructure sectors, these days introduced a strategic investment decision by Mitsubishi Corporation (“Mitsubishi Corp”). Mitsubishi Corp’s expenditure will accelerate MidOcean’s approach to develop a high top quality, diversified, worldwide ‘pure play’ integrated LNG organization.

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Mitsubishi Corp has been an energetic participant in the LNG sector for more than 50 several years, with investments spanning 12 assignments across 8 nations. This partnership underscores each companies’ commitments to LNG and its part as a critical enabler of the electrical power transition. Mitsubishi Corp aims to develop its company towards obtaining a carbon-neutral society, though fulfilling its accountability as a steady energy provider and conference the evolving needs of its shoppers.

This financial investment deepens MidOcean’s blue-chip trader foundation and builds on MidOcean’s major momentum because launching in late 2022. MidOcean recently declared the shut of its acquisition of a portfolio of Australian LNG tasks from Tokyo Gas.

De la Rey Venter, MidOcean Energy’s CEO, stated: “We are thrilled to have Mitsubishi Corp be a part of as an anchor investor in MidOcean Energy. Mitsubishi Corp has been a pioneer of the international LNG industry and has continually demonstrated its expertise and foresight in identifying valuable prospects. Their financial commitment is a testomony to the sturdy fundamentals of the LNG market place and MidOcean’s method to generate a aggressive extensive-expression expansion platform in LNG for its buyers.”

R. Blair Thomas, EIG’s Chairman and CEO, stated: “Welcoming an field heavyweight these kinds of as Mitsubishi Corp as an anchor trader and strategic spouse accelerates MidOcean’s development in building a large-scale, pure engage in world-wide LNG organization. The world’s power transition requirements are contributing to fast progress in worldwide LNG desire, and we look forward to continuing to execute on this beautiful and essential chance together with our investors and partners.”

About EIG
EIG is a leading institutional trader in the world-wide strength and infrastructure sectors with $22.9 billion under administration as of December 31, 2023. EIG specializes in non-public investments in energy and strength-connected infrastructure on a worldwide foundation. Throughout its 41-yr background, EIG has committed above $47.1 billion to the power sector by means of in excess of 405 jobs or providers in 42 countries on 6 continents. EIG’s clients consist of lots of of the leading pension designs, insurance providers, endowments, foundations and sovereign prosperity funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul.

About MidOcean Vitality
MidOcean Energy, an LNG company fashioned and managed by EIG, seeks to create a diversified, resilient, price and carbon aggressive world-wide LNG portfolio. It displays EIG’s perception in LNG as a critical enabler of the strength transition and the expanding relevance of LNG as a geopolitically strategic electrical power useful resource. MidOcean Electricity is headed by De la Rey Venter, a 26-year industry veteran who has held a assortment of senior executive roles, together with International Head of LNG for Shell Plc.

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For extra details, you should check out EIG’s web page at www.eigpartners.com or MidOcean Energy’s site at www.midoceanenergy.com.

About Mitsubishi Company
Mitsubishi Corp operates a wide array of enterprises spanning various industries and overseen by eight market-certain business enterprise teams: Environmental Vitality, Resources Remedy, Mineral Means, City Progress & Infrastructure, Mobility, Foods Marketplace, Sensible-Lifetime Generation, and Power Solution.

For extra details, make sure you take a look at Mitsubishi Corporation’s web page at www.mitsubishicorp.com/jp/en/.

View supply version on businesswire.com: https://www.businesswire.com/news/house/20240401613309/en/

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