Japan's NYK to invest in MidOcean Energy through Mitsubishi unit

Nippon Yusen Kabushiki Kaisha

30/07/2026 09:45

TOKYO, July 30 (Reuters) - Japan's Nippon Yusen KK 9101.T (NYK) said on Thursday it would invest $221 million in Diamond Gas MidOcean (DGMO), a Mitsubishi Corp 8058.T-owned unit that holds an investment in MidOcean Energy as it expands its presence in the liquefied natural gas sector.

NYK, Japan's largest shipping company, said it will subscribe to 211.9 million newly issued shares in DGMO through a third-party allotment, giving it an 87.4% stake in the DGMO. Neither NYK nor Mitsubishi disclosed the size of NYK's indirect stake in MidOcean Energy following the transaction.
MidOcean Energy is an LNG platform backed by U.S. energy-focused private equity firm EIG.
Following this investment, DGMO will be operated as a joint venture between Mitsubishi and NYK. NYK also plans to establish a strategic partnership with MidOcean Energy in LNG shipping. 
DGMO was established by Mitsubishi in 2023 to invest in MidOcean Energy. Mitsubishi has not disclosed the size of its stake in MidOcean.
The latest transaction is subject to antitrust and other regulatory approvals and is expected to close between August and September, NYK said.


 (Reporting by Yuka Obayashi; editing by Louise Heavens and Jason Neely)
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