MidOcean LNG Platform Lands $1.13 Billion Abu Dhabi Investment
MidOcean Energy has secured a $1.13 billion investment from an Abu Dhabi investment firm, strengthening its global LNG platform while launching a strategic partnership with EIG to pursue future energy infrastructure opportunities.
(P&GJ) — MidOcean Energy has secured a $1.13 billion investment from the Private Department of Sheikh Mohammed bin Khalid Al Nahyan, strengthening the LNG company's capital base as it continues expanding its global portfolio.
The investment marks the Abu Dhabi firm's entry into the global liquefied natural gas sector and accompanies a broader strategic partnership with EIG, the energy and infrastructure investment firm that formed and manages MidOcean.
Under the partnership, the organizations plan to collaborate on capital formation, investment origination and future energy and infrastructure opportunities across the United Arab Emirates and selected regional markets.
MidOcean has built an LNG portfolio spanning projects in Canada, Australia and Latin America and said it intends to continue expanding through disciplined investments.
R. Blair Thomas, chief executive officer of EIG and chairman of MidOcean, said the partnership combines EIG's global energy investment experience with the Private Department's regional relationships.
"We believe this creates a powerful platform for capital formation and investment across the region," Thomas said.
MidOcean Chief Executive Officer De la Rey Venter said the investment supports the company's long-term growth strategy.
"The Private Department's investment supports our continued growth and execution across a diversified global LNG portfolio," Venter said. "We look forward to working together to capture more opportunities in an increasingly important global LNG market."
Matar Hamdan Al Ameri, executive managing director of the Private Department, said the investment aligns with its strategy of investing in global energy infrastructure.
"MidOcean provides access to a critical component of the global energy system through a diversified LNG platform, while our strategic partnership with EIG creates a foundation for future collaboration and investment opportunities across the region," Al Ameri said.