PetroChina and International Energy Firms Launch LNG Canada
On May 16, PetroChina, Shell Canada Ltd., Korea Gas Corporation (KOGAS), and Mitsubishi Corporation announced they would jointly develop a proposed LNG export facility near Kitimat, British Columbia, Canada. Shell holds a 40-percent working interest, with KOGAS, Mitsubishi and PetroChina each holding a 20-percent working interest.
The proposed LNG Canada project would include the design, construction and operation of a gas liquefaction plant, and facilities for the storage and export of liquefied natural gas, including marine off-loading facilities and shipping. LNG Canada will initially consist of two LNG processing units referred to as “trains”, each with the capacity to produce six million tons of LNG annually, with an option to expand the project to a total of four trains or 24 million tons per annum. The co-venturers’ decision to move the project into development could be taken around the middle of the decade, with start up around the end of the decade, pending regulatory approvals and investment decisions. This also begins an extensive consultation process with First Nations and local community residents regarding the project.
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