WASHINGTON -- MidOcean Energy (“MidOcean” or the “Company”), a liquefied natural gas (LNG) company formed and managed by EIG, announced an equity capital raise of more than $1.2 billion.

This equity raise includes:

·a $500 million commitment from Idemitsu Kosan, a highly respected global energy company with a long-standing presence across the energy value chain; and
·additional commitments of $790 million from both new and existing investors.

This represents a significant milestone in MidOcean’s capital formation program and reflects continued interest from both new and existing investors in the Company’s strategy to seek to build a diversified, resilient, long-life global LNG platform.

There is significant further momentum from additional investors currently in documentation. MidOcean will continue to raise capital, with a cumulative target 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, constrained supply growth and LNG’s role in supporting energy security and the energy transition. Recent events only reinforce the strength of the MidOcean investment thesis.

De la Rey Venter, CEO of MidOcean, said: “We are delighted to welcome Idemitsu Kosan as a strategic investor in MidOcean. The success of this equity raise is a strong validation of MidOcean’s strategy, asset base and transaction pipeline. The level of participation from both new investors and our existing shareholder base signals confidence in our strategy and our company. We look forward to welcoming more investors into the company as we progress toward final close.”

Important Notice

This announcement is for information purposes only and does not constitute an offer to sell or the solicitation of an offer to subscribe for or purchase any securities. Any offering will be made only pursuant to applicable offering documents and in compliance with applicable securities laws.