Aramco-Backed MidOcean in Advanced Talks for Major Stake in Canada LNG Unit OilPrice.com
MidOcean Energy, backed by Saudi Aramco, is the leading bidder to acquire Petronas’s Canadian gas and LNG assets in a deal potentially worth up to $7 billion.
US Crude Inventories Draw Down While Prices Fall
Find us on:
European steel prices are falling…
Eurofer plans a stricter safeguard…
By Charles Kennedy - Jul 16, 2025, 3:30 AM CDTMidOcean 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, a major West Coast export project now under construction and slated to begin operations in 2026. A completed transaction would give Aramco exposure to North America’s fast-growing LNG export corridor through MidOcean.
MidOcean was launched by U.S.-based EIG Global Energy Partners and became central to Aramco’s LNG strategy following its 2023 equity infusion. Since then, MidOcean has snapped up stakes in liquefaction projects in Australia, Peru, and now aims to enter Canada, cementing its role as a global LNG consolidator.
Petronas, meanwhile, is seeking to monetize non-core assets to reallocate capital toward decarbonization and domestic priorities while maintaining strategic LNG positions. The Canadian divestment aligns with that strategy.
While sources told Bloomberg that other suitors could resurface, MidOcean is currently viewed as the preferred bidder. Final terms may be announced later this summer, pending regulatory review and corporate approvals.
Aramco’s potentially indirect foothold in Canada reflects rising Gulf interest in supply basins outside the Middle East, as demand from China, South Korea, and India fuels long-term LNG growth.
By Charles Kennedy for Oilprice.com
More Top Reads From Oilprice.com:
- Oil Markets Ignore Trump’s Russia Threats
- Russia’s Oil Export Revenues Dip 14%
- Saudi Arabia’s Production Increase Sparks Credibility Concerns
Join the discussion | Back to homepage
Charles is a writer for Oilprice.com
More Info
U.S. Gasoline Prices Slide as Imports Surge and Summer Demand Sputters
CNOOC Starts Heavy Crude Production at China’s Largest Shallow Oil Field
Indonesia Forges $8 Billion Refinery Deal with U.S. Firm
The Oil Boom No One Wants to Talk About
Oil Prices Climb After the EU Imposes New Sanctions on Russia
The Permian Can’t Scale If No One’s Left to Work It
Oil Prices Dip as OPEC+ Boosts Supply
FAQ
Is it okay to have a Stake account in Canada?
Your safety and security are our top priorities at Stake Casino. We are licensed and regulated by reputable gaming authorities, ensuring fair play and transparency. Our state-of-the-art encryption technology safeguards your personal and financial information, providing you with a worry-free gaming environment.
Is staking allowed in Canada?
Canadian securities regulators have permitted regulated crypto trading platforms operating in Canada to offer staking services to retail clients since October 2022, and the first Ether staking ETF launched in Canada in October 2023.١٧/٠١/٢٠٢٥
What gambling is legal in Canada?
Types of allowed gambling with licences are raffles, pull tickets, lotteries, bingo, slot machines, and certain kinds of sports betting. There are also other kinds of gaming that often take place in casinos, including card games like blackjack.
Which country is Stake legal in?
🌍 Where is Stake allowed? Stake.com is allowed in many countries including Austria, Canada, Argentina, Bolivia, Bahamas, Brazil, Chile, Costa Rica, Ecuador, Guatemala, Mexico, Nigeria, Panama, Uruguay, Peru, and Venezuela.
What role did roulette play in popular culture such as movies and literature?
What role did roulette play in popular culture, such as movies and literature? Roulette has played a significant role in popular culture, appearing in numerous movies, books, and other forms of media. In movies, roulette often appears as a symbol of glamour, luxury, and risk-taking. One of the most famous examples is the classic film “Casablanca,” where the game is prominently featured in several scenes. In the movie, the character Rick (played by Humphrey Bogart) runs a popular nightclub and casino in Casablanca, Morocco, where roulette is one of the main attractions.
What is a Rake Chase?
What is a Rake Chase? Rake chases are poker promotions which are incentives for players to rake more and reward them generously for that. In contrary to a rake race, you don’t compete against other players , but instead chase your own individual targets. In order to hit the points targets you need to play a certain amount of poker hands or tournaments for real money. As soon as you hit the points requirement, you have secured yourself the amount of money, which was preset for the respective level.
When and why was the double zero added to the American roulette wheel?
When and why was the double zero added to the American roulette wheel? The double zero was added to the American roulette wheel in the mid-19th century. The exact year is not clear, but it is believed to have been added around the 1860s. The reason for its addition was to increase the house edge, making the game more profitable for the casino. At the time, gambling was not regulated in the United States, and casinos were free to set their own rules and payouts.
What gambling is legal in Canada?
Types of allowed gambling with licences are raffles, pull tickets, lotteries, bingo, slot machines, and certain kinds of sports betting. There are also other kinds of gaming that often take place in casinos, including card games like blackjack.
Is Stake Canada legit?
Stake Canada is a legitimate Curacao-based sportsbook with a casino and live dealer lobby.com casino anmeldelse 2025; Stake. explore markets and odds, and make your selections. There, they can purchase cryptocoins and play in the casino for real money.
Stake Casino MacOS App – Your Ultimate Gambling Experience Step into the world of casino entertainment and exciting gambling opportunities with the Stake
This site only collects related articles. Viewing the original, please copy and open the following link:Aramco-Backed MidOcean in Advanced Talks for Major Stake in Canada LNG Unit OilPrice.com
