Midocean energy: MidOcean Energy (MidOcean), a liquefied natural gas (LNG) company formed and managed by EIG, has secured a US$120 million equity investment from The Arab Energy Fund (TAEF) as part of its ongoing capital raise. (US$1=RM3.96)

According to BERNAMA News Agency, the investment strengthens MidOcean's investor base and supports its strategy to build a diversified and resilient global LNG business. MidOcean Chairman and EIG Chief Executive Officer (CEO), R. Blair Thomas, expressed that the investment validates MidOcean's strategy to develop a leading global LNG platform.

'In parallel, EIG and TAEF are seeking collaboration opportunities across energy infrastructure in the Middle East, with the aim of further deepening our relationship,' added Thomas. MidOcean CEO, De la Rey Venter, noted that the investment would support the company's growth opportunities and diversified LNG portfolio strategy.

Meanwhile, TAEF CEO, Khalid Al-Ruwaigh, stated that the investment aligns with the fund's focus on energy security and sustainable energy infrastructure. MidOcean added that additional investors are currently in documentation, with the company targeting up to US$2 billion in cumulative capital from new investors.