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The Arab Energy Fund (TAEF), a multilateral impact financial institution, has decided to expand its energy portfolio by investing in MidOcean Energy, a liquefied natural gas (LNG) player formed and managed by the U.S.-headquartered investment company EIG Global Energy Partners (EIG).
As part of its current equity capital raise, MidOcean Energy has secured a $120 million equity investment from The Arab Energy Fund, which further strengthens the firm’s high-quality investor base, underscoring continued strong interest in the company’s strategy to build a diversified, resilient, and long-life global LNG business.
De la Rey Venter, CEO of MidOcean, remarked: “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.”
EIG’s LNG player sees significant further momentum from additional investors currently in documentation; thus, it will continue to raise capital, with a cumulative target of up to $2 billion from new investors. MidOcean Energy opted to increase its stake in an LNG project off the northwest coast of Western Australia (WA) a few months ago.
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.”
With $25.9 billion in assets under management as of March 31, 2026, EIG, which specializes in private investments in energy and energy-related infrastructure globally, has committed $53.9 billion to the energy sector through 426 projects or companies in 44 countries across six continents.
Blair Thomas, MidOcean Chairman and EIG CEO, commented: “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.”
The latest investment comes weeks after Tokyo-based Idemitsu Kosan decided to pour $500 million into MidOcean Energy, followed by Shizuoka Gas, which announced its intention to invest $100 million in the LNG company soon after.
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