PetroChina, Shell, KOGAS, Mitsubishi to launch LNG Canada

16 May 2012 09:37  [Source: ICIS news]

SINGAPORE (ICIS)--PetroChina will be participating in a joint venture with Shell Canada, South Korea’s KOGAS and Japan’s Mitsubishi to develop a liquefied natural gas (LNG) export facility near Kitimat in British Columbia, Canada, the Chinese company said on Wednesday.

The proposed LNG Canada project will initially have the capacity to produce 12m tonnes/year of LNG, with the option of expanding the capacity to 24m tonnes/year, PetroChina said in a statement.

Development of the project is expected to take place around 2015, with the start-up scheduled at around the end of the decade, pending regulatory approvals and investment decisions, according to the statement.

“The demand for natural gas, the cleanest-burning fossil fuel, remains high in Asia and in other markets,” PetroChina said.

Shell Canada will hold a 40% interest, while KOGAS, Mitsubishi and PetroChina will each hold a 20% interest, it added.

By: Joey Lau
+6567804359

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