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

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

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 ex…

MidOcean emerges as lead bidder for Petronas’ Canada assets, sources say – Oil & Gas 360

(World Oil)– MidOcean Energy, a liquefied natural gas company founded by private equity firm EIG and backed by Saudi Aramco, has emerged as the frontrunner to buy a minority stake in Petronas’ Canadian business, people familiar with the matter said. Petronas, as the Malaysian state energy firm is known, has picked MidOcean as the preferred bidder, according to sources. The companies are in advanced talks to hammer out details of a transaction for

MidOcean tapped as preferred bidder for Petronas’ Canada LNG Business stake - Private Equity Wire

MidOcean Energy, an LNG platform established by energy-focused private equity firm EIG and backed by Saudi Aramco, has been selected as the lead bidder for a minority interest in Petronas’ Canadian upstream unit, according to a report by Bloomberg citing sources with knowledge of the matter. Petronas, Malaysia’s state-owned energy company, is understood to have named MidOcean as its preferred counterparty in the ongoing sale process. The two par…