EIG’s MidOcean Energy Completes Acquisition of Interest in Canada from PETRONAS

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LONDON--(BUSINESS WIRE)--Dec 17, 2025--

MidOcean Energy (“MidOcean”), a liquefied natural gas (LNG) company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors, today announced the completion of its acquisition of a 20% interest in PETRONAS’ key entities in Canada.

The transaction includes a 20% interest in the North Montney Upstream Joint Venture (“NMJV”), which holds PETRONAS’ upstream investment in Canada, and a 20% interest in the North Montney LNG Limited Partnership (“NMLLP”), which holds PETRONAS’ 25% participating interest in the LNG Canada Project.

This strategic investment positions MidOcean across the LNG value chain, securing upstream resources and downstream liquefaction through the LNG Canada Project, with around 0.7 MTPA of associated LNG and potential to grow further.

RBC Capital Markets acted as financial advisor to MidOcean, and Latham & Watkins acted as legal advisor.

About EIG

EIG is a leading institutional investor in the global energy and infrastructure sectors with $24.3 billion assets under management as of September 30, 2025. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 43-year history, EIG has committed over $51.7 billion to the energy sector through 421 projects or companies in 44 countries on six continents. EIG’s clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul.

About MidOcean Energy

MidOcean Energy, an LNG company formed and managed by EIG, seeks to build a diversified, resilient, cost- and carbon-competitive global LNG portfolio. It reflects EIG’s belief in LNG as a critical element of a lower carbon, competitive and more secure global energy system. MidOcean Energy has diverse LNG interests, including in Gorgon LNG, Pluto LNG, QCLNG and Peru LNG. The company is headed by De la Rey Venter, a 27-year industry veteran who has held a variety of senior executive roles, including Global Head of LNG for Shell Plc.

For additional information, please visit MidOcean Energy’s website at www.midoceanenergy.com or EIG’s website at www.eigpartners.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20251216703277/en/

CONTACT: EIG/MidOcean Contact Information

FGS Global

Kelly Kimberly / Brandon Messina

+1 212-687-8080

[email protected]

KEYWORD: EUROPE UNITED KINGDOM NORTH AMERICA CANADA

INDUSTRY KEYWORD: FINANCE OIL/GAS ENERGY PROFESSIONAL SERVICES ASSET MANAGEMENT

SOURCE: EIG

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PUB: 12/17/2025 03:58 AM/DISC: 12/17/2025 03:58 AM

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