Petronas to spend $36B building gas plant, pipeline in Canada

|By:, SA News Editor

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.