Ex-Neptune CFO finds same position at EIG-managed LNG firm

MidOcean Energy, a liquefied natural gas (LNG) player formed and managed by investment company EIG, has appointed a new Chief Financial Officer (CFO).

The CFO position has been filled by Armand Lumens, a certified internal auditor with an MBA from Maastricht University and an MSc in Finance from the London Business School.

Lumens noted: “MidOcean is well positioned to make a significant impact on the energy transition through its expertise in and focus on LNG. I am thrilled to join De la Rey and the EIG team as it seeks to build a global LNG portfolio.”

The incoming CFO brings 30 years of expertise in finance to the EIG-managed company, including in mergers and acquisitions, private equity, business development, trading, financing, audit, risk management, venture capital, take-privates, and initial public offerings.

De la Rey Venter, MidOcean Energy’s CEO, remarked: “We are delighted to welcome Armand to the MidOcean team. We’re confident in his ability to drive financial excellence and contribute to the company’s continued growth and success. His wealth of expertise will be an invaluable asset as MidOcean continues to pursue its strategic objectives.”

Lumens was previously the Group CFO of Neptune Energy, participating in the development and implementation of the company’s financial and IT strategies. Prior to that, he held various senior positions at Shell for over 24 years, including Shell Trading CFO, Chief Internal Auditor, and Head of Group External Reporting and Planning.

As EIG considers LNG a geopolitically strategic energy resource in the energy transition, it aims to build a diversified, resilient, cost and carbon-competitive global LNG portfolio through its subsidiary.

In line with this, MidOcean recently completed two investments in LNG projects on different sides of the world. One entailed purchasing interests in four Australian LNG projects from Tokyo Gas and the other acquiring Korea-based SK earthon’s interest in Peru LNG.