MidOcean Energy, Owned by EIG, Announces Initial Equity Raise of $1.2 Billion, Exceeding Original $1.0 Billion Target
Washington – MidOcean Energy (“MidOcean” or “the Company”), a liquefied natural gas (LNG) company founded and managed by EIG, has announced an equity raise of more than $1.2 billion.
The equity raise comprises:
A $500 million commitment from Idemitsu Kosan, a globally prominent energy company with long-standing presence across the entire energy value chain; and
An additional $790 million commitment from new and existing investors.
The raise represents a significant milestone in MidOcean’s capital formation programme and reflects sustained interest from new and existing investors in the Company’s strategy to build a diversified, resilient, and long-lived global LNG platform.
There is significant continued momentum from additional investors currently in documentation process. MidOcean will continue to raise capital, targeting cumulative fundraising of up to $2 billion from new investors. The Company has received substantial interest from investors seeking long-term exposure to the LNG sector, supported by strong demand fundamentals, limited supply growth, and LNG’s role in supporting energy security and energy transition. Recent events further reinforce the advantages of MidOcean’s investment portfolio.
De la Rey Venter, Chief Executive Officer of MidOcean, said: “We are delighted to welcome Idemitsu Kosan as a strategic investor in MidOcean. The success of this equity raise is a powerful testament to MidOcean’s strategy, asset base, and transaction pipeline. The high level of participation from both new investors and our existing shareholders demonstrates confidence in our strategy and company. We look forward to additional investors joining the company as we progress towards final close.”
About EIG
EIG is a leading institutional investor in the global energy and infrastructure sectors with assets under management of $25.4 billion as of 31 December 2025. EIG specialises in private investment in energy and energy infrastructure globally. Over 43 years, EIG has committed $53.4 billion to the energy sector across more than 425 projects or companies in 44 countries across six continents. EIG’s clients comprise numerous leading pension programmes, insurance companies, endowments, foundations, and sovereign wealth funds in the United States, 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 Energy
MidOcean Energy is an LNG company founded and managed by EIG. MidOcean Energy seeks to build a diversified, resilient, and cost- and carbon-competitive global LNG portfolio. This reflects EIG’s conviction regarding LNG as an essential element of a lower-carbon, competitive, and more secure global energy system. MidOcean Energy holds diverse interests in LNG, including in LNG Canada, Gorgon LNG, Pluto LNG, QCLNG, and Peru LNG. The Company is led by De la Rey Venter, a senior industry figure with 27 years of experience. He has held various senior executive roles, including as Global Head of LNG at Shell Plc.