Tokyo Stock Exchange-listed Shizuoka Gas has decided to widen its liquefied natural gas (LNG) footprint with an investment in MidOcean Energy, an LNG player formed and managed by the U.S.-headquartered investment company EIG Global Energy Partners (EIG)Days after Tokyo-based Idemitsu Kosan decided to pour $500 million into MidOcean Energy, Shizuoka Gas announced its intention to make an investment of $100 million in the LNG company established and managed by EIG and create a strategic partnership with this firm, which holds a portfolio of interests in LNG projects located in Australia, Canada, and Peru.By diversifying risks across individual projects, MidOcean has established an integrated LNG value chain encompassing upstream gas field development, liquefaction, sales, transportation, and trading optimization.The Japanese firm emphasized: “This investment enables us to participate in an LNG business portfolio that includes upstream and midstream segments, and will contribute to the expansion of our business domain in the natural gas and LNG sectors.
Shizuoka Gas Group has developed its business by leveraging a value chain in natural gas and electricity, as well as a strong customer base supported by long-standing relationships of trust with its customers.”