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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.
Comments (1)
  • marpy
    , contributor
    Comments (686) | Send Message
     
    The bottom line is that the world is hungry for energy resources. Be it B.C. gas or oil from the Alberta oil sands it will be snapped up as soon as it gets produced and for every country that may choose to look a gift horse in the mouth there are twenty that will act quickly.
    7 Oct 2013, 12:56 PM Reply Like
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