EIG’s LNG company MidOcean Energy announced April 1 an investment from Mitsubishi Corp. to accelerate MidOcean’s global portfolio. Details about Mitsubishi’s investment were not disclosed.
Mitsubishi, which has been active in the LNG sector for over 50 years, said it aims to achieve a carbon-neutral society while meeting evolving energy needs of its customers.
“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,” said R. Blair Thomas, EIG’s chairman and CEO in a press release.
Thomas said that global energy transition needs are rapidly contributing to global LNG demand and this investment is an “important” opportunity for MidOcean.
MidOcean also recently acquired three Australian LNG interests from Tokyo Gas.
Recommended Reading
Darbonne: The ESG Sword: BlackRock's Life, Death by ESG
2024-04-17 - BlackRock, the $10 trillion investment manager, is getting heat for too much ESG investing, while shareholders are complaining it’s doing too little.
Fire Closes Atlas Energy’s Kermit, Texas Mining Facility
2024-04-15 - Atlas Energy Solutions said no injuries were reported and the closing of the mine would not affect services to the company’s Permian Basin customers.
Coalition Launches Decarbonization Program in Major US Cities, Counties
2024-04-11 - A national coalition will start decarbonization efforts in nine U.S. cities and counties following a federal award of $20 billion “green bank” grants.
Exclusive: Scepter CEO: Methane Emissions Detection Saves on Cost
2024-04-08 - Methane emissions detection saves on cost and "can pay for itself," Scepter CEO Phillip Father says in this Hart Energy exclusive interview.