Kitimat LNG Partners to Purchase Pacific Trail Pipelines Interest
Investing News Network - February 7th, 2011
Kitimat LNG partners Apache Canada Ltd. (NYSE:APA) and EOG Resources Canada Inc. (NYSE:EOG) agrees to purchase the 50 percent interest in the Pacific Trail Pipelines Limited Partnership (PTPLP) for $50 million.
Kitimat LNG partners Apache Canada Ltd. (NYSE:APA) and EOG Resources Canada Inc. (NYSE:EOG) agrees to purchase the 50 percent interest in the Pacific Trail Pipelines Limited Partnership (PTPLP) for $50 million.
The press release is quoted as saying:
Apache Canada and EOG Canada will pay PNG $30 million on closing – expected by the end of February – and a second payment of $20 million when the purchasers decide to proceed with construction of the Kitimat liquefied natural gas (LNG) export facility.