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Tuesday, June 25, 2019
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Home Energy News Sinopec buys 15 per cent stake in Pacific Northwest LNG project

Sinopec buys 15 per cent stake in Pacific Northwest LNG project

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Petronas still owns 62 per cent of the project and is continuing to look for more partners. The company has stated its intent to own 50 per cent of the project. Petronas already has existing deals with Indian Oil Corporation for 10 per cent of the project and another 10 per cent belongs to JAPEX Montney Ltd. of Japan. PetroleumBRUNEI has a three per cent share of the project.

Neither Sinopec or Petronas released the value of the agreement. 

Petronas has approval from the National Energy Board and the federal government. They intend to make a final investment decision by the end of this year and the first shipments are expected in 2019.

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