Energy Transfer, EIG’s MidOcean Are Close to Finalizing LNG Deal

Energy Transfer LP is nearing an agreement to sell liquefied natural gas from its planned Lake Charles export terminal in Louisiana to MidOcean Energy, a subsidiary of investment firm EIG Global Energy Partners, according to people familiar with the matter.

The pact would cement a heads of agreement between Energy Transfer and MidOcean announced in April, under which MidOcean would commit to 30% of the Lake Charles construction costs and be entitled to receive 30% of the LNG production, or about 5 million metric tons a year. The deal has not yet been fully completed, according to the people, ...