EIG’s MidOcean Energy lines up new investment as NYK spreads its LNG wings
MidOcean Energy, a liquefied natural gas (LNG) player formed and managed by the U.S.-headquartered investment company EIG Global Energy Partners (EIG), has secured another investment, enabling Nippon Yusen Kabushiki Kaisha (NYK), Japan’s shipping and logistics major, to widen its LNG footprint.
NYK has decided to participate in an investment in MidOcean Energy through Diamond Gas MidOcean (DGMO), a company established by Japan’s Mitsubishi Corporation in 2023, by subscribing for all of the shares to be issued in DGMO’s third-party allotment.
The firm elaborated: “By leveraging the expertise and experience in LNG shipping that the NYK Group has developed over many years, the NYK Group aims to contribute to the further development of MidOcean Energy’s LNG value chain and, through these efforts, to global energy security and sustainable development.”
Following the investment, Diamond Gas MidOcean is expected to be operated as a jointly owned company by Mitsubishi Corporation and NYK. In addition, the Japanese giant plans to enter into a strategic
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