Entity Message
Saudi Aramco acquiring minority stake
- Entity
- MidOcean Energy
- Message Category
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News Message
Aramco agrees to acquire a strategic minority stake in MidOcean Energy for $500m, with option to increase size of shareholding
Strategic partnership enables Aramco to tap into international LNG opportunities
DHAHRAN, Saudi Arabia – Aramco, one of the world’s leading integrated energy and chemicals companies, has signed definitive agreements to acquire a strategic minority stake in MidOcean Energy for $500 million. MidOcean Energy is a liquefied natural gas (LNG) company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors.
MidOcean Energy is currently in the process of acquiring interests in four Australian LNG projects, with a growth strategy to create a diversified global LNG business. The strategic partnership with MidOcean Energy marks Aramco’s first international investment in LNG.
