Reuters: Sinopec in talks to buy 15% of Petronas' Canada LNG project

|By:, SA News Editor

Sinopec (SNP -0.2%) is in talks with Malaysia's Petronas to buy a 15% stake in the $20B Pacific Northwest liquefied natural gas project in Canada, due to start up in late 2018, Reuters reports.

Petronas' recent deal to sell Indian Oil Corp. a 10% stake also included a 10% stake in the shale gas assets that will feed the LNG plant; if SNP follows suit with a similar deal, a 15% stake would bring ~1.8M metric tons/year of the project's 12M metric tons/year export capacity.