EIG's MidOcean Secures US$1.13 Bln Investment From Private Department
KUALA LUMPUR, July 8 (Bernama) -- EIG, an institutional investor in the global energy and infrastructure sectors, announced that its liquefied natural gas (LNG) company, MidOcean Energy (MidOcean), has secured a US$1.13 billion investment from the Private Department of Sheikh Mohammed bin Khalid Al Nahyan (Private Department). (US$1=RM4.07)
The Private Department also established a strategic partnership with EIG, focusing on capital aggregation, investment origination and the development of institutional investment opportunities in the United Arab Emirates and selected regional markets.
EIG in a statement said the investment marks the Private Department's entry into the global LNG sector and the beginning of a broader strategic relationship with the company.
Through the partnership, both parties intend to collaborate on future investment opportunities across the energy and related infrastructure sectors.
“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,” said MidOcean Chairman and EIG Chief Executive Officer, R. Blair Thomas.
The investment further strengthens MidOcean's institutional shareholder base and reflects continued confidence in its strategy to build a diversified, resilient and long-life global LNG platform.
Formed and managed by EIG, MidOcean has assembled a portfolio of LNG interests across key global markets, including Canada, Australia and Latin America, and aims to further expand its global footprint through a disciplined, value-driven investment approach.
-- BERNAMA