The Private Department of Sheikh Mohammed bin Khalid Al Nahyan, an Abu Dhabi-based investment and asset management platform, has committed to invest $1.13bn in MidOcean Energy, a liquefied natural gas (LNG) company formed and managed by EIG.
The deal marks the Private Department’s entry into the global LNG sector and the beginning of a broader strategic relationship with EIG, a global energy and infrastructure investment firm, the companies said.
Through this partnership, both parties intend to collaborate on future investment opportunities across the energy and related infrastructure sectors.
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.
MidOcean operates a portfolio of LNG interests across Canada, Australia, and Latin America, and seeks to expand its global footprint.
“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,” said chief executive officer of MidOcean, De la Rey Venter.
