An energy consortium led by Shell has formed a C$40bn ($31.9bn) joint venture (JV) to provide liquefied natural gas (LNG) to the Asian market.

The JV includes Shell, PetroChina, Mitsubishi, Petronas and Korea Gas Corporation. It will develop a private sector investment project in Canada with a 26 million tonnes (Mt) capacity of LNG.

Shell is a Dutch oil and gas company, while PetroChina is a China-based oil and gas company, and Petronas is a Malaysian oil and gas company. Korea Gas Corporation is a South Korean natural gas company.

Mitsubishi is involved in the developments and operation of various businesses across industries.

The Canadian Government is providing C$275m in funds towards the LNG project, which will strengthen Canada’s energy sector.

Subsea Integration Alliance (SIA), a partnership between OneSubsea and Subsea 7, has been awarded a subsea production systems contract by Fieldwood Energy, to develop the deep-water Katmai field.

OneSubsea will provide its subsea production systems including three trees, connectors, valves, topside controls, flying leads and umbilical termination assemblies to the Katmai field located in Green Canyon 40 in the Gulf of Mexico under the contract, which is valued between $50m and $150m.

“The Canadian Government is providing C$275m in funds towards the LNG project, which will strengthen Canada’s energy sector.”

Subsea 7 will supply its subsea umbilicals, riser and flowline systems, under the contract. It will also be responsible for project management, engineering, and procurement and construction services, as well as the installation of 40km of pipe-in-pipe production flowline, tie-ins to the Tarantula Platform and pre-commissioning activities.

OneSubsea is a US subsidiary of Schlumberger and is engaged in delivering integrated solutions, products, systems and services for the offshore oil and gas market, while Subsea 7 is UK-based subsea engineering, construction and services company.

Equinor has entered an agreement to buy a 40% operated interest in the Rosebank project from Chevron for an undisclosed amount.

Discovered in 2004, the Rosebank project is located 130km north-west of the Shetland Islands in the UK Continental Shelf. It is one of the biggest undeveloped fields lying in water depths of 1,110m.

The acquisition is expected to boost Equinor’s UK asset portfolio.

Equinor is a Norwegian energy company, while Chevron is a US-based energy corporation.

East Timor (Timor-Leste) has entered an agreement with US-based energy firm ConocoPhillips to purchase a 30% stake in the Greater Sunrise oil and gas fields for $350m.

Discovered in 1974, the Sunrise and Troubadour gas fields are collectively known as Greater Sunrise fields and are located in the waters between Timor-Leste and Australia. The oil and gas fields are owned by Japan-based Osaka Gas, while Woodside Petroleum is the operator.