KOGAS of South Korea, world’s largest corporate buyer of LNG, said that it may sell 5 to 10 percent of the company’s 20 percent stake in the Canada LNG project.
“ Concrete progress over the sales consideration will be made early next year ,” Reuters cited the company’s CEO Jang Seok-hyo as saying.
LNG Canada is a joint venture comprised of Shell Canada, KOGAS, Mitsubishi Corporation and PetroChina that is proposing to build and operate a liquefied natural gas export terminal in Kitimat, British Columbia.
The project will be constructed in phases, with the first phase having a design capacity of 12 mtpa of LNG, with an option to expand the project in the future to approximately 24 mtpa.
[mappress]
LNG World News Staff, October 16, 2013; Image: Canada