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Monday, Oct 7
Petronas to spend $36B building gas plant, pipeline in Canada
- Malaysia's state oil firm Petronas plans to spend $35B to develop shale gas assets in Canada and build a liquefied natural gas export terminal linking the country to Asian markets.
- Petronas had previously said it would spend $20B to build two LNG trains on Canada's west coast, including a pipeline to be built by TransCanada (TRP) from fields in the shale-rich Montney region; the trains are expected to be ready by 2018 or 2019.
- Petronas is in talks to sell stakes in the entire project to potential LNG buyers and has finalized one such deal with Japex (JPTXF.PK).
- ETF: EWM.