MidOcean Energy, backed by global investor EIG, has agreed to acquire a 20% stake in Petronas’ Canadian portfolio, including upstream Montney assets and its shareholding in LNG Canada. The deal provides MidOcean access to LNG export capacity and a long-term position in Canada’s largest natural gas play.
Why It Matters
The transaction highlights two important themes for Canada’s gas sector:
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Upstream–downstream integration – MidOcean gains exposure to more than 800,000 acres in the North Montney Joint Venture alongside access to LNG Canada, reinforcing the link between prolific shale supply and global export markets.
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Global investment momentum – With LNG Canada already shipping cargoes and Phase 2 under consideration, international investors see Canadian LNG as a long-term growth platform.
Together, these elements underscore Canada’s role as a strategic LNG supplier and the durability of the Montney as a core gas basin.
What the Map Shows
In Rextag DataLink, the map highlights the connection between Petronas’ Montney position and LNG export infrastructure:
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Petronas Energy Canada acreage – 1,198 sq. miles in the Montney, with estimated productivity of 33.4M BOE per sq. mile.
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Kitimat LNG (Shell-led, including Petronas, Mitsubishi, PetroChina, and KOGAS) – the first large-scale LNG export terminal in Canada, already operational.
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Natural gas pipelines – including operational and under-development systems such as Coastal GasLink, Pacific Northern Gas, Alliance, Brookfield, and Westcoast, which provide the transportation backbone linking Montney supply to LNG Canada.
This view illustrates how upstream acreage, pipelines, and export facilities are interdependent in enabling Canada’s LNG strategy.
A Deeper Dive with DataLink
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Filter Acreages to explore Petronas’ Montney footprint and compare with other operators in British Columbia.
- Use the Natural Gas Pipelines layer to see operational vs. under-development corridors and research their route, operator, and capacity.
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Zoom into LNG terminals to trace how gas flows from Montney fields to the coast.
By layering these datasets together, users can evaluate how Petronas’ upstream assets and pipeline connectivity support LNG Canada today, while also providing growth potential for Phase 2 exports under MidOcean’s new stake.
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Want to see how Rextag’s Energy DataLink works for your team? Click Free Trial to get started, and one of our specialists will walk you through key datasets and workflows.
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