The Private Department of Abu Dhabi’s Crown Prince Sheikh Mohammed bin Khalid Al Nahyan has announced an investment of $1.13bn (Dh4.14bn) in MidOcean Energy.
Based in the US, MidOcean Energy is a liquefied natural gas (LNG) company established and managed by EIG
Alongside the investment, the Private Department and EIG have formed a strategic partnership aimed at capital aggregation, sourcing investments and developing institutional investment prospects within the United Arab Emirates (UAE) and certain other regional markets. This marks the Private Department’s foray into the global LNG sector, coinciding with the start of a wider strategic collaboration with EIG, a company specialising in global energy and infrastructure investments. EIG CEO and MidOcean Energy chairman R.
Blair Thomas said: “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 partnership aims to identify and pursue additional investments across energy and related infrastructure sectors. EIG has described the investment as enhancing MidOcean Energy’s institutional shareholder base. MidOcean Energy currently holds LNG assets across markets such as Canada, Australia and Latin America and intends to grow its portfolio using a disciplined investment strategy.