EIG's MidOcean Energy Acquires 20% Stake in PETRONAS' Canadian LNG Ventures

MidOcean Energy, managed by EIG, has completed the acquisition of a 20% interest in PETRONAS' Canadian entities. This includes a 20% stake in the North Montney Upstream Joint Venture, which manages PETRONAS' upstream investments in Canada, and a 20% interest in the North Montney LNG Limited Partnership, associated with the LNG Canada Project.

This investment integrates MidOcean into the LNG value chain by securing upstream resources and downstream liquefaction, with an initial capacity of approximately 0.7 MTPA and potential for expansion. RBC Capital Markets served as financial advisor, while Latham & Watkins provided legal counsel.