Aramco-Backed MidOcean in Advanced Talks for Major Stake in Canada LNG Unit ...Middle East

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Aramco-Backed MidOcean in Advanced Talks for Major Stake in Canada LNG Unit
source : OILPRICE ( Middle East ) () 136
MidOcean Energy, the LNG investment platform backed by Saudi Aramco, has emerged as the front-runner to acquire a significant minority stake in Petronas’s Canadian gas and LNG business, according to people familiar with the talks, cited by Bloomberg. The deal, now reportedly in late-stage negotiations, could value the assets between $6 and $7 billion, making it one of the largest LNG transactions of the year. Petronas’s Canadian unit includes extensive upstream operations in British Columbia and a 25% stake in the LNG Canada terminal,…

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