Saudi-backed LNG producer MidOcean Energy has secured a $1.13bn investment from The Private Department of Sheikh Mohammed bin Khalid Al Nahyan, the company announced on 7 July. The ‘Private Department’ is based in Abu Dhabi.
MidOcean was established by US private equity giant EIG and in May 2024 Saudi Aramco completed the acquisition of a “strategic minority stake” (MEES, 10 May 2024). Aramco agreed to increase its stake to 49% in September 2024 by financing MidOcean’s purchase of a 15% stake in Peru LNG, with its investments in the company rising to SAR969mn ($258mn). However Aramco’s 2025 annual report showed that its position in MidOcean had subsequently been diluted to 24.4% by the end of last year. (CONTINUED - 313 WORDS)
