Idemitsu's investment in MidOcean represents the company's first full-scale entry into the LNG sector, supporting its strategy to secure long term energy supply while enabling future growth opportunities in LNG.
MidOcean Energy is a liquefied natural gas company formed in 2023 and managed by EIG Global Energy Partners, a US based global energy and infrastructure investor with USD$25.4 billion in assets under management, with LNG interests across Peru, Canada and Australia, including Queensland Curtis LNG, Gorgon LNG and Pluto LNG.
MinterEllison advised on all Australian legal aspects of the transaction.
The team was led by Geread Dooley (Partner, M&A/Capital Markets) and David Perks (Partner, Energy, Resources & Projects), with specialist input from the firm's Environment and Planning, Real Estate, Banking and Finance, Dispute Resolution, FIRB and Competition teams.
Geread Dooley, Partner at MinterEllison, commented:
"Idemitsu's investment in MidOcean Energy represents a strategically significant entry into the LNG sector and reinforces the long-standing energy relationship between Japan and Australia. The transaction highlights the role of Australian LNG assets in supporting energy security and reliability during the global transition to lower emissions energy sources."
David Perks, Partner at MinterEllison, added:
"MidOcean's Australian LNG portfolio comprises some of the country's most significant and globally relevant energy projects. This investment highlights the strategic value of these assets to international investors seeking high-quality, long-life LNG exposure aligned with long term energy supply objectives."
Nishimura & Asahi acted as lead Japanese counsel for Idemitsu.
