Energy Transfer (ET) unit Energy Transfer LNG Export entered into an agreement to develop its Lake Charles, Louisiana, liquefied natural gas project jointly with MidOcean Energy.
MidOcean is set to commit to fund 30% of the construction costs and receive 30% of the LNG production under the non-binding framework of the major terms for the joint development, Energy Transfer said Wednesday in a statement.
The obligations of the companies under the framework "will be subject to both parties' determination to take a positive final investment decision," among other things, according to the statement.
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