EIG’s MidOcean Participates In LNG Canada Phase 2
KUALA LUMPUR, Sept 30 (Bernama) -- MidOcean Energy (MidOcean), a liquefied natural gas (LNG) company formed and managed by EIG, has announced its participation in Phase 2 of LNG Canada through its partnership with PETRONAS, following the Final Investment Decision (FID) by the LNG Canada joint venture partners on Sept 29.
“We have long believed in LNG Canada as one of the world’s most advantaged projects, with the scale, resource depth, and Pacific Basin access to deliver reliable energy to global markets for decades.
“Participating in Phase 2 is a natural next step for us, and we have strengthened our partnership with PETRONAS while advancing our strategy of investing in high-quality, globally competitive LNG assets,” said MidOcean Chief Executive Officer, De la Rey Venter.
MidOcean’s participation follows the completion of its December 2025 acquisition of a 20 per cent interest in the North Montney Upstream Joint Venture (NMJV), which holds PETRONAS’ upstream investment in Canada, and a 20 per cent interest in the North Montney LNG Limited Partnership (NMLLP), which holds PETRONAS’ 25 per cent participating interest in the LNG Canada Project.
EIG in a statement said the Phase 2 will add two liquefaction trains at LNG Canada’s facility in Kitimat, British Columbia, increasing the project’s production capacity from 14 million tonnes per annum (mtpa) to 28 mtpa.
The expansion will build on LNG Canada’s position on Canada’s Pacific Coast and is expected to provide access to abundant Canadian natural gas resources and competitive shipping routes to key Asian markets.
MidOcean’s participation will increase associated LNG volumes from 0.7 mtpa to 1.4 mtpa and deepen its position across the integrated LNG value chain, spanning upstream gas production in the North Montney and liquefaction and export through LNG Canada.
The investment is consistent with MidOcean’s strategy to build a large, diversified, cost- and carbon-competitive global LNG portfolio and reinforces its position as a long-term partner of choice for high-quality LNG projects across the Pacific Basin.
-- BERNAMA