Petronas subsidiary North Montney LNG (NMLLP) has signed an agreement to acquire an equity position in the LNG Canada project in Kitimat, British Columbia (BC).
Once the deal is completed, Petronas will own a 25% stake in the project, while the remaining interest will be held by Shell Canada Energy (40%), PetroChina Canada (15%), Mitsubishi subsidiary Diamond LNG Canada (15%), and Kogas Canada LNG (5%).
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Under the proposed project, the joint venture (JV) partners will undertake the design, construction and operation of a gas liquefaction plant and facilities for the storage and export of liquefied natural gas (LNG).
Petronas president and group CEO Tan Sri Wan Zulkiflee Wan Ariffin said: “As one of the world’s largest LNG producers, Petronas looks forward to adding value to this venture through our long-term expertise and experience across the LNG value chain.
“We are committed to delivering LNG and natural gas, the cleanest fossil fuel in the world, to the growing global energy market.”
“Petronas is in Canada for the long-term and we are exploring a number of business opportunities that will allow us to increase our production and accelerate the monetisation of our world-class resources in the North Montney. LNG is just one of those opportunities.”
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By GlobalDataThe project will ship natural gas from BC to various countries and includes two LNG processing units referred to as ‘trains’, with an option to add a further two trains.
A JV comprising JGC and Fluor has recently been awarded a contract to deliver engineering, procurement and construction (EPC) services for the project.
The LNG project partners are yet to make a final investment decision (FID).
