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.

Melgoza, Alberto