Petronas to Invest USD 20 Bln in Pacific NorthWest LNG in Canada

Petronas of Malaysia expects investment of $20 billion in the Pacific NorthWest LNG export project in Canada, Reuters reported, citing Arif Mahmood, vice president of corporate planning at Petronas.

Petronas also may build a third train and the company is in talks with several buyers to sell stakes in the LNG export project.

“What we’re looking for is actually potential partners where they will also be offtakers of the gas,” Mahmood said, adding that company will own at least 50 percent of the LNG project.

Pacific NorthWest LNG is a proposed liquefaction and export facility on Lelu Island within the District of Port Edward on land administered by the Port of Prince Rupert.

The facility would liquefy and export natural gas produced by Progress Energy Canada in northeastern BC.