Abu Dhabi royal-linked firm to invest $1.13 billion in LNG company MidOcean Energy

SAUDI ARAMCO

SAUDI ARAMCO

2222.SA

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DUBAI, July 7 (Reuters) - The Private Department of Sheikh Mohammed Bin Khalid Al Nahyan, an investment firm owned by members of Abu Dhabi's ruling family, has committed to invest $1.13 billion in liquefied natural gas company MidOcean Energy, the two firms said on Tuesday.

Here are some details:

  • The deal marks the Private Department's first investment into the global LNG sector, the firms said.

  • In parallel, the two companies have also established a strategic partnership focused on capital aggregation, investment origination.

  • Partnership to also explore investment opportunities in energy and related infrastructure sectors across the UAE and broader region.

  • The investment further strengthens MidOcean’s "high-quality institutional shareholder base".

  • MidOcean is private equity firm EIG's LNG investment vehicle. It is also backed by oil giant Saudi Aramco 2222.SE and Mitsubishi 8058.T.

  • The LNG firm has established a platform with a balance sheet of over $5 billion and stakes in LNG projects across the Americas and Australia.

  • The investment supports the Private Department's strategy to "create opportunities for regional investors to participate alongside leading institutional partners," said executive managing director Matar Hamdan Al Ameri.


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