Petronas Invests in Canadian Shale Play as It Considers LNG Exports
Posted on Jun 3, 2011 in Canada & Mexico, E&P, LNG Exports | Comments Off on Petronas Invests in Canadian Shale Play as It Considers LNG Exports
Petronas has secured a 50% stake in three shale gas fields in British Columbia, partnering with Canadian company Progress Energy Resources Corp. Bloomberg reports that under the terms of the agreement, Petronas would more than double its initial investment should the companies decide to construct an LNG export project on the Canadian west coast. Petronas would own 80% of the LNG export terminal.