Idemitsu to Invest 500 Million Dollars in MidOcean Energy
Idemitsu Kosan will invest $500 million in Australia's MidOcean Energy to enter the LNG sector. The deal aims to secure stable energy supplies for the refiner.
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Idemitsu Kosan Co.,Ltd., the second-largest oil refiner in Japan, has announced a $500 million investment in Australia-based MidOcean Energy. This move signals a full-scale entry into the liquefied natural gas (LNG) business as the company seeks to secure new growth opportunities and ensure a stable energy supply. MidOcean Energy is an LNG platform backed by EIG, a private equity firm based in the United States.
