en.Wedoany.com Reported - Japanese shipping operator Nippon Yusen Kabushiki Kaisha (NYK) has announced plans to participate in an investment in MidOcean Energy, a UK-based LNG company backed by EIG. NYK will make the investment by subscribing to shares in Diamond Gas MidOcean (DGMO), a special purpose vehicle (SPV) established by Mitsubishi in 2023 to hold equity in MidOcean Energy.
Upon completion of the transaction, NYK will subscribe to approximately 211.9 million shares issued through a third-party placement by DGMO, holding DGMO jointly with Mitsubishi. The investment amounts to $221 million (¥35.37 billion), granting NYK 87.4% of voting rights in DGMO. The transaction is subject to approval from competition law and relevant regulatory authorities, with both parties expecting to complete the share subscription between August and September 2026.
NYK stated that this planned investment is part of its continued expansion of its LNG value chain footprint. The company has previously invested in the Wheatstone LNG project in Western Australia, which commenced production in 2017 with an annual capacity of up to 8.9 million tonnes per annum (mtpa). Project partners include JERA, Mitsubishi, and the Japan Organization for Metals and Energy Security.
Additionally, NYK holds a stake in the Cameron LNG project in Louisiana, United States, which began production in 2019 with an annual capacity of 12 million tonnes, with NYK participating through a joint venture arrangement with Mitsubishi.
Beyond the planned investment, NYK also intends to establish a strategic partnership with MidOcean Energy, focusing on LNG maritime transportation.
Earlier this month, the private office of Sheikh Mohammed bin Khalid Al Nahyan announced an investment of $1.13 billion (AED 4.14 billion) in MidOcean Energy. In addition to financial support, the private office also signed a strategic partnership with EIG to pool capital, identify investment opportunities, and build institutional investment platforms in the UAE and other regional markets.
