The Private Department of Sheikh Mohammed bin Khalid Al Nahyan has committed a $1.13 billion investment in the Texas-headquartered LNG firm MidOcean Energy, a company formed and managed by the US-based energy and infrastructure investment firm EIG.

In parallel with the investment, the Private Department and EIG have also established a partnership focusing on “capital aggregation, investment origination, and the development of institutional investment opportunities across the UAE and selected regional markets,” a statement read.

The Private Department’s investment in MidOcean marks its entry into the LNG sector and is a part of a broader drive with EIG to collaborate on future investments across the energy and related infrastructure sectors, the companies said.

MidOcean operates a portfolio of LNG interests across Canada, Australia, and Latin America.

The Private Department, together with its affiliate KSH Investments, is an Abu Dhabi-based diversified investment and asset management platform.

(Writing by Bindu Rai, editing by Brinda Darasha)