MidOcean Expands Global LNG Portfolio with Acquisition in Peru

MidOcean Energy, an emerging LNG player backed by EIG, is acquiring a 20% stake in Peru LNG, further diversifying its global portfolio and solidifying its commitment to the clean energy transition.

• MidOcean acquires 20% stake in Peru LNG, South America's first LNG export plant.

• Acquisition bolsters MidOcean's presence in Latin America and aligns with its strategy of building a resilient global LNG portfolio.

• Peru LNG complements MidOcean's ongoing acquisition of interests in four Australian LNG projects, closing in February 2024.

• EIG, backing MidOcean, views LNG as crucial for the energy transition and a strategic geopolitical resource.

• Move follows Saudi Aramco's strategic minority investment in MidOcean, highlighting its global LNG ambitions.