MidOcean Secures Over US$4 Bln In 2026 Capital Raise
KUALA LUMPUR, Oct 2 (Bernama) -- MidOcean Energy (MidOcean), a liquefied natural gas (LNG) company formed and managed by EIG, has concluded its 2026 equity capital raise, securing more than US$4 billion of closed and pending commitments over the last 12 months. (US$1 = RM4.08)
In a statement, the company said the raise included commitments from new strategic and institutional investors, as well as significant re-ups from existing investors, with the capital committed significantly exceeding MidOcean’s original target of US$2 billion.
MidOcean Chairman and EIG Chief Executive Officer (CEO), R. Blair Thomas said the progress achieved in this capital raise represents a major milestone for MidOcean and supports its strategy of building a scaled, diversified and resilient global LNG platform.
“We believe LNG will continue to play an essential role in supporting energy security and global economic growth, and that MidOcean is well positioned to benefit from these long-term market fundamentals,” said Thomas, who also welcomed the new investors and thanked existing shareholders for their continued support and confidence.
Meanwhile, MidOcean CEO, De la Rey Venter said the company has built a high-quality LNG portfolio with strong cash flow characteristics and meaningful growth optionality, positioning it to advance its pipeline of opportunities.
The raise includes commitments from strategic investors, sovereign-linked institutions and financial investors, including the Private Department of Sheikh Mohammed bin Khalid Al Nahyan, NYK Line (through Diamond Gas MidOcean), The Arab Energy Fund, Shizuoka Gas and several Korean institutional investors.
The proceeds are expected to enhance MidOcean’s balance sheet flexibility and position the company to pursue a pipeline of LNG growth opportunities encompassing both cash-generating and development assets.
MidOcean has assembled an LNG portfolio spanning Canada, Australia, the United States and Latin America, while continuing to evaluate accretive opportunities consistent with its disciplined investment approach.
-- BERNAMA