EIG-backed MidOcean Energy has secured a $500m investment from Japan’s Idemitsu Kosan as the private equity-backed platform continues to expand its position in the global LNG market.

The investment marks a strategic move by Idemitsu to enter the liquefied natural gas sector and strengthen its presence across the energy value chain.

MidOcean Energy, which is backed by private equity firm EIG, provides access to LNG assets spanning upstream development and downstream supply. The partnership is expected to support further growth of the platform.

The agreement is scheduled to be signed by the end of March and remains subject to regulatory approvals.

Idemitsu said the investment will help secure new business opportunities in LNG while contributing to a more stable energy supply.

“The success of this equity raise is a strong validation of MidOcean’s strategy, asset base and transaction pipeline,” De la Rey Venter, CEO of MidOcean, said in a company statement.

The company is already active in gas field development in Vietnam and in supplying natural gas to power stations in North America, including facilities linked to data centres.

The transaction highlights continued private equity activity in energy infrastructure, where platforms such as MidOcean are attracting strategic capital to scale operations and expand global LNG exposure.

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