Aramco to acquire a minority stake in MidOcean Energy from EIG for $500m.

Aramco, a Saudi Arabian national petroleum and natural gas company, agreed to acquire a minority stake in MidOcean Energy, a provider of investment services designed to create a portfolio of long-term LNG interests, from EIG, a provider of institutional capital to the energy sector globally, for $500m. "We are pleased to be strengthening our strategic partnership with EIG through this acquisition, which marks Aramco's first international investment in LNG. We anticipate strong demand-led growth for LNG as the world continues on its energy transition journey, with gas being a vital fuel and feedstock in various industries. We believe that gas will be important in meeting the world's rising need for secure, accessible and more sustainable energy," Amin H. Nasser, Aramco President & CEO.