KUALA LUMPUR, Oct 1 (Bernama) — PETRONAS is pleased to announce that it has entered into a long-term strategic partnership with MidOcean Energy (“MidOcean”), a liquefied natural gas (LNG) company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors, through a 20 per cent strategic equity participation in its subsidiaries in Canada.
PETRONAS will be introducing MidOcean as a 20 per cent equity partner in the North Montney Upstream Joint Venture (NMJV), which holds PETRONAS’ upstream investments in Canada. PETRONAS will also share 20 per cent equity in the North Montney LNG Limited Partnership (NMLLP), the entity which controls PETRONAS’ participating interest in the LNG Canada Project.