LNG company MidOcean Energy secured over $4 billion in equity commitments from new and existing investors, accelerating its global growth strategy.
Key points
•$4 billion equity raise
•Global LNG growth strategy
•New investor participation
MidOcean Energy concluded a $4 billion equity capital raise over the past year, attracting new strategic and institutional investors including Sheikh Mohammed bin Khalid Al Nahyan's private department, Idemitsu Kosan, NYK Line, The Arab Energy Fund, Shizuoka Gas, and Korean institutional investors.
The raised funds will bolster MidOcean’s financial flexibility to pursue a pipeline of LNG growth opportunities in Canada, Australia, the U.S., and Latin America. R. Blair Thomas, chairman of MidOcean and CEO of EIG, said the raise supports their strategy of building a diversified global LNG platform.
De la Rey Venter, CEO of MidOcean, noted that the company has grown from concept to a fully integrated global LNG player in just a few years, with a high-quality portfolio offering strong cash flow and growth potential.
