Malaysian state-owned energy company Petronas, which scrapped its multi-billion dollar Pacific NorthWest LNG project on the north coast last year, has announced plans to hook up with the LNG Canada project in Kitimat.
A news release from Petronas says one of its wholly-owned entities, North Montney LNG Limited, has signed an agreement for an equity position in LNG Canada, the venture proposed by Shell Canada Energy, PetroChina Canada, Mitsubishi and Korea Gas Corp.
Petronas would hold a 25 per cent stake in LNG Canada and the announcement says Petronas expects the deal to be completed in the next few months, once regulatory approvals are in place.
LNG Canada is still waiting to announce a final investment decision on its 40-billion dollar project, after delaying an announcement last year.
Earlier this month company officials told an L-N-G conference in Vancouver that construction in Kitimat should start this year.
(The Canadian Press)