Malaysia’s State-Owned Petronas Secures LNG Deal with British Columbia

- May 5th, 2014

The Globe and Mail reported today that Petronas CEO Shamsul Azhar Abbas and B.C. Premier Christy Clark have signed a letter of intent regarding a liquified natural gas project in British Columbia. The deal is part of Clark’s goal to enhance trade relationships between Asia and the province.

The Globe and Mail reported today that Petronas CEO Shamsul Azhar Abbas and B.C. Premier Christy Clark have signed a letter of intent regarding a liquified natural gas project in British Columbia. The deal is part of Clark’s goal to enhance trade relationships between Asia and the province.

As quoted in the publication:

A joint venture led by Petronas plans to make a final investment decision by the end of 2014 on whether to forge ahead with multibillion-dollar plans to transport northeast B.C. natural gas to a proposed LNG export terminal on Lelu Island, located near Prince Rupert in northwestern British Columbia. Petronas will hold a 62-per-cent stake in the Pacific NorthWest LNG project after China’s state-owned Sinopec joins the joint venture. Sinopec and three others will have a combined 38-per-cent interest. Those others are India’s state-run Indian Oil Corp. Ltd., Japan Petroleum Exploration and Petroleum Brunei.

Click here to read the full Globe and Mail article.

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