Progress Energy (PRQNF.PK) and Malaysia's Petronas say their liquefied natural gas export plant...

|About: Progress Energy Res (PRQNF)|By:, SA News Editor

Progress Energy (PRQNF.PK) and Malaysia's Petronas say their liquefied natural gas export plant has entered the design phase. In an effort to win Canadian government approval of Petronas' takeover bid for Progress, the companies say the facility would export 6M short tons annually if the deal goes through, ~60% more than current capacity.