An investor, headquartered in the United Arab Emirates (UAE), has backed MidOcean Energy, a liquefied natural gas (LNG) player formed and managed by the U.S.-headquartered investment company EIG Global Energy Partners (EIG), with a billion-dollar investment.
EIG has disclosed an investment commitment of $1.13 billion in MidOcean Energy from the Abu Dhabi-based Private Department of Sheikh Mohammed bin Khalid Al Nahyanwhich together with its affiliate KSH Investments acts as a diversified investment and asset management platform focused on identifying and developing long-term investment opportunities across a diversified range of sectors and geographies.
R. Blair ThomasMidOcean’s Chairman and EIG’s CEO, commented: “We are pleased to establish a strategic partnership with the Private Department. This relationship combines EIG’s global energy investment expertise with the Private Department’s regional reach, institutional relationships, and long-term investment perspective. We believe this creates a powerful platform for capital formation and investment across the region.”
The Private Department and the U.S. firm have also established a strategic partnership focused on capital aggregation, investment origination, and the development of institutional investment opportunities across the United Arab Emirates and selected regional markets.
The investment in MidOcean is said to represent the UAE player’s entry into the global LNG sector and marks the launch of a broader strategic relationship with EIG. Through this partnership, the companies intend to collaborate on future investment opportunities across the energy and related infrastructure sectors.
From King VenterCEO of MidOcean, emphasized: “The Private Department’s investment supports our continued growth and execution across a diversified global LNG portfolio. We appreciate their strong endorsement of MidOcean’s strategy, and we look forward to working together to capture more opportunities in an increasingly important global LNG market.”
The investment is perceived to further strengthen MidOcean’s high-quality institutional shareholder base and reflect continued confidence in the company’s strategy to build a diversified, resilient, and long-life global LNG platform.
The firm has assembled a portfolio of LNG interests across key global markets, including Canada, Australia, and Latin America, and seeks to continue to expand its global footprint through a disciplined and value-driven investment approach.
Matar Hamdan Al AmeriExecutive Managing Director of the Private Department of Sheikh Mohammed bin Khalid Al Nahyan, highlighted: “This investment represents an important milestone in our strategy to establish long-term exposure to high-quality global infrastructure and energy assets and create opportunities for regional investors to participate alongside leading institutional partners.
“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.”
The latest investment comes on the heels of MidOcean Energy’s announcement of a $120 million equity investment from The Arab Energy Fund, shortly after Tokyo-based Idemitsu Kosan decided to pour $500 million into the firm, followed by Shizuoka Gas’ intention to invest $100 million in the LNG company.
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