Canada: Liquefied Natural Gas Petronas Joins Kitimat LNG Project
Petronas will take an equity position in LNG Canada, located in Kitimat, British Columbia on the west coast of Canada, through its wholly owned entity the North Montney LNG Limited Partnership, subject to regulatory approvals and closing conditions, announced Shell Canada Energy, Petro China Kitimat LNG Partnership, Diamond LNG Canada and Kogas Canada LNG.
Calgary/Canada — As a result of this transaction, if approved and upon closing, ownership interests in LNG Canada would be Shell Canada Energy, a subsidiary of Shell, (40 %); Petronas (through NMLLP), (25 %); Petro China Kitimat LNG Partnership, a subsidiary of Petro China Canada, (15 %); Diamond LNG Canada, a subsidiary of Mitsubishi Corporation, (15 %); and Kogas Canada LNG (5 %).
British Columbia (B.C.) is home to one of the largest and most accessible sources of natural gas in the world. If constructed, LNG Canada participants will ship natural gas, including from B.C.’s vast reserves, to various countries.
LNG Canada recently selected the joint venture of JGC Corporation and Fluor as the Engineering, Procurement and Construction (EPC) contractor for the project and is currently finalising materials in preparation for a final investment decision (FID) by joint venture participants.