Notice Regarding Participation in Investment in LNG Business Company

Shizuoka Gas Co., Ltd. (President and CEO Naotake Matsumoto) announced today that it has decided to invest US$100 million through a fund operated by EIG, a leading global institutional investor specializing in the energy and infrastructure sectors, into MidOcean Energy ("MOE"), an LNG business company established and operated by EIG, and to establish a strategic partnership with MOE.

MOE, in which our company is investing, has a portfolio of LNG project interests located in Australia, Canada, Peru, and other regions. It constructs an integrated LNG value chain, from upstream gas field development to liquefaction, sales, transportation, and optimized trading, while diversifying risks across individual projects. This investment allows us to indirectly participate in an LNG business portfolio that includes upstream and midstream sectors, which are not easily accessible to our company alone, thereby contributing to the expansion of our business scope in the natural gas and LNG fields.

Our group has developed its business by leveraging its strengths in the natural gas and electricity value chain and its customer base supported by long-standing trust relationships. Utilizing these strengths, we are expanding and optimizing both upstream and downstream natural gas and LNG businesses domestically and internationally, including the shale gas development project in the Eagle Ford Basin in the United States, in which we participated last year. This matter is one of the concrete measures for that purpose.

By combining the business foundation cultivated through our energy business with initiatives based on a strategic partnership with MOE, our group aims to expand our natural gas and LNG business value chain, from upstream to downstream, both domestically and internationally, and to establish a business portfolio that balances stability and profitability. The Shizuoka Gas Group will continue to actively develop overseas businesses to achieve its 2030 vision.

Regarding the impact of this matter on the consolidated financial results for the fiscal year ending December 2026, we are currently scrutinizing it, and will promptly announce if there are any matters that require disclosure.

【Company Profile】

1. MidOcean Energy

Company Name	MidOcean Energy
Head Office Location	London, UK
Representative	De la Rey Venter
Established	2023
Business Description	An LNG business company established and operated by EIG, aiming to build a diverse global LNG portfolio that enables both cost competitiveness and carbon emission reduction. This is because LNG is low-carbon and competitive compared to other fossil fuels, and plays an important role in the global energy system... Back to Newsroom (45)