MidOcean Energy, the liquefied natural gas (LNG) investment platform backed by Saudi Aramco, is in advanced negotiations to acquire a significant stake in a major Canadian LNG project, according to sources familiar with the matter.
The deal, which could be finalized in the coming weeks, would mark a strategic entry for MidOcean into North America’s rapidly expanding LNG market. While the exact financial terms are still under discussion, insiders suggest the transaction may involve a multi-billion-dollar valuation, positioning MidOcean as a key partner in one of Canada’s largest LNG ventures.
This move aligns with Saudi Aramco’s long-term strategy to diversify its energy investments and strengthen its global LNG footprint, particularly in regions with strong export potential to Asia. Canada’s west coast is increasingly viewed as a strategic launchpad for LNG shipments to Pacific markets, especially given geopolitical shifts and rising demand for cleaner-burning fuels. 
MidOcean, which has already acquired stakes in multiple LNG assets globally, is spearheading Aramco’s ambition to become a global LNG powerhouse. The Canadian project under consideration is seen as a technically advanced, long-life asset with significant scalability.
Negotiations are ongoing, and the final outcome will depend on regulatory approvals, partner agreements, and market conditions. If successful, the deal could significantly reshape the competitive landscape of the North American LNG export sector.
Neither MidOcean nor Aramco have publicly commented on the negotiations.
