- A subsidiary of China’s Cnooc (NYSE:CEO) agrees to partner with a unit of BG Group (OTCQX:BRGYY, OTCQX:BRGXF) on the U.K. firm’s proposed Prince Rupert liquefied natural gas terminal on Canada’s west coast.
- BG last year filed plans with Canadian regulators for a proposed $16B LNG export terminal capable of processing up to 2.9B cf/day, or 21.6M metric tons/year, and has partnered with Spectra Energy (NYSE:SE) on a pipeline to the coast.
- It is unclear what Cnooc’s agreement with BG means for a rival development proposed by Cnooc-owned Nexen Energy.