EIG and MidOcean announced the completion of the deal in a statement on Wendesday.
The transaction includes a 20 percent interest in the North Montney upstream joint venture (NMJV), which holds Petronas’ upstream investment in Canada, and a 20 percent interest in the North Montney LNG partnership (NMLLP), which holds Petronas’ 25 percent participating interest in the LNG Canada project.
“This strategic investment positions MidOcean across the LNG value chain, securing upstream resources and downstream liquefaction through the LNG Canada project, with around 0.7 mtpa of associated LNG and potential to grow further,” the statement said.
More to follow..