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US NEWS 
By Ruth Liao
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, who asked not to be identified because discussions were private.
EIG declined to comment, while Energy Transfer didn’t immediately respond to a request for comment.
The agreement would come after MidOcean said last month it was acquiring a stake in LNG Canada, an export terminal in British Columbia, through Malaysia’s Petroliam Nasional Bhd, or Petronas. MidOcean also has interests in Peru LNG and a portfolio of Australian LNG projects.
Read more: US LNG Exporters Race to Tie Up Financing as Surplus Looms
US LNG export developers are scrambling to fully finance their projects to export more of the heating and power-plant fuel, with the next wave of production from terminals under construction in the US and Qatar due to enter the market over the next decade. By 2027, global LNG supply will exceed demand, according to an estimate from BloombergNEF.
Energy Transfer has previously targeted the end of this year to make a final decision to move forward with the Lake Charles project, the conversion of a decades-old LNG import facility that has not been in use due to the US shale boom. The terminal, once greenlit as an export project, is expected to produce about 16.5 million metric tons of LNG per year after completion.
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