US-based energy investor EIG said it has named Shell’s De la Rey Venter as chief executive officer of its LNG unit MidOcean Energy.
In addition, Venter joined as a managing director of EIG, the Washington-based firm said in a statement.
Venter is a 25-year industry veteran with global operating, dealmaking and business leadership experience in the mining, upstream and LNG sectors, the statement said.
Among other roles, he served as executive VP of integrated gas ventures, responsible for the majority of Shell’s LNG and natural gas assets, and previously also as Shell’s global head of LNG.
He will be based in EIG’s London office.
MidOcean is an EIG-controlled LNG company seeking to create a diversified “pure play” integrated LNG portfolio of high-quality operating LNG projects with strong existing cash flow, the statement said.
“LNG is a key enabler of the energy transition and is increasingly a geopolitically strategic energy source,” R. Blair Thomas, EIG’s chairman and CEO said in the statement.
“EIG has long been a key capital provider to the sector and has already invested in nine LNG projects, globally, involving both liquefaction and regasification. Adding someone of De la Rey’s caliber to lead MidOcean further demonstrates our commitment to LNG and the energy transition, he said.