EIG’s MidOcean Energy Announces $120m Investment from The Arab Energy Fund as Part of Equity Raise

(BUSINESS WIRE) -- MidOcean Energy (“MidOcean” or the “Company”), a liquefied natural gas (LNG) company formed and managed by EIG, today announced a $120 million equity investment from The Arab Energy Fund (‘’TAEF’’), a leading multilateral impact financial institution, as part of its current equity capital raise.

TAEF’s investment further strengthens MidOcean’s high-quality investor base and underscores continued strong interest in the Company’s strategy to build a diversified, resilient and long-life global LNG business.

There is significant further momentum from additional investors currently in documentation, and MidOcean will continue to raise capital, with a cumulative target of up to $2 billion from new investors.

R. Blair Thomas, MidOcean Chairman and EIG CEO, said: “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. In parallel, EIG and TAEF are seeking collaboration opportunities across energy infrastructure in the Middle East, with the aim of further deepening our relationship.”

De la Rey Venter, CEO of MidOcean, said: “This investment supports our strategy of building a diversified LNG portfolio and positions us well to execute on our identified growth opportunities. We welcome TAEF with its more than 50 years of experience in energy investing and focus on energy security and sustainability.”

Khalid Al-Ruwaigh, CEO of The Arab Energy Fund, said: “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. LNG continues to play a critical role as a reliable and flexible energy source, and MidOcean’s disciplined approach and high-quality asset base align well with our long-term investment strategy. EIG is a great partner and we look forward to unlocking further value through collaboration across energy infrastructure, particularly in the Middle East.”

Important Notice

This announcement is for information purposes only and does not constitute an offer to sell or the solicitation of an offer to subscribe for or purchase any securities. Any offering will be made only pursuant to applicable offering documents and in compliance with applicable securities laws.

About EIG

EIG is a leading institutional investor in the global energy and infrastructure sectors with $25.9 billion assets under management as of March 31, 2026. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 44-year history, EIG has committed - $53.9 billion to the energy sector through 426 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. For additional information, please visit www.eigpartners.com.

About MidOcean

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 LNG Canada, Gorgon LNG, Pluto LNG, QCLNG and Peru LNG. The company is headed by De la Rey Venter, a 30-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 www.midoceanenergy.com.

About The Arab Energy Fund

The Arab Energy Fund (The Fund) is a multilateral impact financial institution focused on the MENA energy and utility sectors, established in 1974 by ten Arab oil-exporting countries. The Fund’s mission is to support the energy ecosystem with debt and equity solutions to enable energy security and sustainability and to develop local value chains and services in the MENA region. The Arab Energy Fund creates impact by contributing to economic prosperity and enabling local communities via talent development and knowledge creation. The Fund offers a comprehensive range of funding solutions across the entire energy value chain to leading public and private sector business partners in over 35 markets. The Arab Energy Fund applies best-practice ESG principles across all operations, with environmental and socially linked projects comprising c.20% of its USD 5.8bn loan portfolio. The Arab Energy Fund is the only energy-focused financial institution in the MENA region rated ‘Aa2’ by Moody’s, ‘AA+’ by Fitch and ‘AA-’ by S&P.

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