Equity Raise Targets $2 Billion
MidOcean Energy, an LNG company managed by EIG, has secured a $120 million investment from The Arab Energy Fund (TAEF) as part of its ongoing equity raise, announced on 20th May.
This investment strengthens MidOcean's investor base and highlights interest in its strategy to develop a diversified global LNG business. The company aims to raise up to $2 billion from new investors.
R. Blair Thomas, MidOcean Chairman and EIG CEO, stated: "We are delighted to welcome The Arab Energy Fund as a shareholder in MidOcean. Their significant expertise in energy investments is a strong validation of MidOcean’s strategy to build a leading global LNG business."
Strategic Collaboration in Energy
MidOcean and TAEF are exploring further collaboration opportunities in the Middle East energy infrastructure sector. This partnership aims to deepen the relationship between the two entities.
De la Rey Venter, CEO of MidOcean, noted: "This investment supports our strategy of building a diversified LNG portfolio and positions us well to execute on our identified growth opportunities."
MidOcean Energy, part of EIG's portfolio, is focused on creating a resilient and cost-competitive LNG business. The company's interests include projects in Canada, Australia, and Peru.
TAEF, established in 1974, focuses on the MENA energy sector, providing funding solutions that support energy security and sustainability. It is rated highly by Moody’s, Fitch, and S&P.
EIG, a leading institutional investor in global energy and infrastructure sectors, manages $25.9 billion in assets as of March 31, 2026. Over its 44-year history, it has committed $53.9 billion to the energy sector through 426 projects in 44 countries.
Khalid Al-Ruwaigh, CEO of The Arab Energy Fund, commented: "Our investment in MidOcean Energy reflects the Fund’s commitment to supporting strategic energy platforms that contribute to global energy security and a more sustainable energy mix."
The collaboration between EIG and TAEF aims to unlock further value through shared projects in energy infrastructure, particularly in the Middle East.
