Notice Regarding Participation in Investment in an LNG Business Company

Shizuoka Gas Co., Ltd. (CEO Naotake Matsumoto) announced today its decision to invest 100 million US dollars 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. Shizuoka Gas will also establish a strategic partnership with MOE.

MOE, in which Shizuoka Gas is investing, possesses 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 the risks of individual projects. This investment will allow Shizuoka Gas to indirectly participate in an LNG business portfolio that includes upstream and midstream sectors, which are not easily accessible directly by the company alone, thereby contributing to the expansion of its business domain in the natural gas and LNG fields.

The Shizuoka Gas 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 with its clients. Utilizing these strengths, the company is expanding and optimizing both upstream and downstream aspects of its natural gas and LNG businesses domestically and internationally, including its investment in the shale gas development project in the Eagle Ford Basin in the United States, in which it participated last year. This initiative is one of the concrete measures for that expansion.

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

The impact of this matter on the consolidated performance for the fiscal year ending December 2026 is currently under review, and any matters requiring disclosure will be promptly announced.

【Company Profile】

1. MidOcean Energy

Company Name	MidOcean Energy
Headquarters	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 lower in carbon emissions and more competitive than other fossil fuels, and is expected to play an important role in the global energy system... FAQ What is the total amount of Shizuoka Gas's investment in the LNG business company? Shizuoka Gas Co., Ltd. is investing 100 million US dollars through a fund operated by EIG into MidOcean Energy (MOE). Who is operating the fund through which Shizuoka Gas is investing in MOE? The fund through which Shizuoka Gas is investing in MOE is operated by EIG, a leading global institutional investor specializing in energy and infrastructure. What kind of business does MidOcean Energy (MOE) engage in? MidOcean Energy (MOE) is an LNG business company that possesses a portfolio of LNG project interests and constructs an integrated LNG value chain. What regions are mentioned as having LNG project interests for MidOcean Energy? MidOcean Energy possesses LNG project interests located in Australia, Canada, Peru, and other regions. What is the strategic objective for Shizuoka Gas by participating in this LNG business investment? This investment allows Shizuoka Gas to indirectly participate in an LNG business portfolio, expanding its business domain in natural gas and LNG fields. Back to Newsroom (16)