FORT ST. JOHN, B.C. – LNG Canada says that Petronas is now an official partner in the consortium that is proposing to build a $40 billion liquified natural gas export terminal in Kitimat.
At the end of May, the Malaysian state-owned energy giant announced that one of its subsidiaries had signed an agreement for a 25 percent stake in LNG Canada, which was subject to regulatory approvals.
In a Facebook post on Monday, LNG Canada officially welcomed Petronas as the fifth partner in the joint venture, which also includes Shell, PetroChina, Mitsubishi Corp., and Kogas Canada.
“LNG Canada formally welcomes Petronas as our fifth Joint Venture Participant following a deal close this month,” said LNG Canada spokesperson Susannah Pierce. “You’ll continue to see LNG Canada as your day-to-day liaison with the community, First Nations and our stakeholders, so nothing changes in that regard.”
“Petronas shares our strong commitment to the community, First Nations and government, and brings decades of LNG experience in construction and operations to LNG Canada, which will benefit our project as we move closer to a Final Investment Decision,” added Pierce.
The announcement comes less than a year after Petronas and its partners scrapped plans to build a $36-billion LNG export terminal near Prince Rupert.
LNG Canada has said that hopes to announce a final investment decision on the project during the second half of this year.
With files from The Canadian Press.