Dec. 18 at 11:28 PM
$NFE
$ET is cancelling its Lake Charles LNG terminal. So why might this have implications for
$NFE?
Well, Mid Ocean Energy was signed on to be an equity partner in the Lake Charles project, which would have been its first Atlantic Basin supply. They were supposed to have about 5 MTPA supply from the terminal. It would have required about
$4 billion commitment. Where do they invest that money now?
EIG, the manager of Mid Ocean Energy is huge, having financed
$51.7 billion in 421 energy & infrastructure projects over its 43-year history, its efforts in LNG are a smaller part.
They have
$2 billion committed to Brazil's LNG-to-power infrastructure. Whether its FLNG 1 or
$NFE's Brazilian operations, Mid Ocean certainly seems like they may have interest in aspects of
$NFE's operations even if they have not in the past.
https://ir.energytransfer.com/news-releases/news-release-details/energy-transfer-announces-suspension-development-lake-charles