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Home Energy News Kitimat LNG to offer up 20 per cent of equity

Kitimat LNG to offer up 20 per cent of equity

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"We are looking for one or two anchors that we would allow to have equity in the facility as well," he said.

A decision on the project was originally expected for the end of 2011, but Eresman says it's been delayed for partners to review the size of equity they'd be willing to offer. If they agree on 20 per cent, Apache's stake will be lowered from 40 to 32 per cent, and EOG Resources and Encana's from 30 to 24 per cent each.

Equity is often sold to potential gas buyers to lock in long-term customers and raise capital.

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Kitimat LNG aims to have its first LNG shipment by 2015.

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Erica Fisher

Erica is a reporter for Moose FM and energeticcity.ca in Fort St. John, B.C. She grew up in Victoria, B.C. and received her Bachelor's Degree in Journalism from Concordia University in Montreal, Quebec.

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