Mid-Ocean Energy, established and operated by EIG, announced that its participation in the second phase of LNG Canada will strengthen its position across the entire LNG value chain.
Key points
•Mid-Ocean strengthened its position by participating in the LNG Canada Phase 2 project through a partnership with Petrobras.
•It previously completed two stake acquisitions: 20% in NMJV and 20% in NMLLP.
•The production capacity of the LNG Canada facility will increase from 14 million tons annually to 28 million tons annually.
Mid-Ocean Energy announced that it will participate in the Phase 2 project through a partnership with Petrobras, following the final investment decision (FID) by the LNG Canada joint venture partners on Sept. 29, 2026.
Mid-Ocean previously completed two major stake acquisitions. First, it acquired a 20% stake in the North Montney JV (NMJV), which holds Petrobras's Canadian upstream investments. Second, it acquired a 20% stake in the North Montney LNG LP (NMLLP), which holds Petrobras's participation stake in the LNG Canada project.
Through participation in this Phase 2 project, the LNG Canada facility will add two liquefaction trains, increasing production capacity from 14 million tons annually to 28 million tons annually. Mid-Ocean's involvement will increase related LNG volume from 700,000 tons annually to 1.4 million tons annually, strengthening Mid-Ocean's position across the entire integrated LNG value chain, from North Montney upstream to liquefaction and export via LNG Canada.
Mid-Ocean Energy explained that this investment aligns with its strategy to build a global LNG portfolio that is diversified, cost-competitive, and carbon-efficient. Dr. Ley Venture, CEO of Mid-Ocean, stated that the Phase 2 participation accelerates its strategy of investing in high-quality LNG assets with global competitiveness and solidifies its partnership with Petrobras.
