MidOcean Energy, which is backed by private equity investor EIG, said the investment will fast-track its strategy to establish a diversified and high-quality "pure play" LNG enterprise. 

Mitsubishi, a seasoned entity in the LNG sector with more than five decades of involvement, holds stakes in 12 LNG projects across eight countries.  

The Tokyo-based company is focused on developing its business to support a carbon-neutral society while maintaining its role as a reliable energy supplier. 

MidOcean Energy CEO De la Rey Venter said: “We are thrilled to have Mitsubishi Corp join as an anchor investor in MidOcean Energy. Mitsubishi Corp has been a pioneer of the global LNG industry and has consistently demonstrated its expertise and foresight in identifying valuable opportunities.  

“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.” 

EIG chairman and 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 partners.” 

Recently, MidOcean Energy, which began operations in late 2022, completed the $2.1bn (Y318.38bn) acquisition of Tokyo Gas' interests in several Australian LNG projects.  

The deal encompasses participation in the Gorgon LNG, Pluto LNG and Queensland Curtis LNG projects, managed by Chevron, Woodside and Shell, respectively.  

In February, MidOcean Energy agreed to acquire a 20% interest in Peru LNG from SK Earthon. 

Located in Pampa Melchorita, 170km south of Lima in Peru, Peru LNG is said to be the first export plant in South America.  

In September 2023, Saudi Arabian oil and gas giant Aramco signed a definitive agreement to acquire a minority stake in MidOcean Energy in a deal valued at $500m.