EIG’s MidOcean wraps up acquisition of stake in Petronas’ Canadian upstream portfolio

Malaysia’s recount-owned vitality massive Petronas has supplied a partial hobby in its Canadian sources to MidOcean Vitality, a liquefied pure gas (LNG) player formed and managed by the U.S.-headquartered investment firm EIG World Vitality Companions (EIG).

MidOcean has confirmed the completion of its acquisition of a 20% hobby in Petronas’ key entities in Canada, which embody a 20% hobby in the North Montney upstream joint challenge (NMJV) that holds the Malaysian firm’s upstream investment in Canada, and a 20% hobby in the North Montney LNG Diminutive Partnership (NMLLP), covering the firm’s 25% taking part hobby in the LNG Canada challenge.

LNG Canada currently marked the completion of the first share of what is deemed to be Canada’s first spruce-scale LNG challenge in Kitimat, with Reveal 1 and a pair of now operational on the nation’s west flit.

“This strategic investment positions MidOcean all around the LNG rate chain, securing upstream sources and downstream liquefaction via the LNG Canada Venture, with spherical 0.7 mtpa of associated LNG and doable to grow extra,” explained the EIG-managed player.

MidOcean, which has LNG pursuits in Gorgon LNG, Pluto LNG, QCLNG, and Peru LNG, made a play for the Lake Charles LNG challenge in April 2025, factual months after buying a further 15% stake in Peru LNG from the Texas-essentially based Hunt Oil Firm to augment its hobby to 35%.