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BLOOMBERG: LNG Canada to move forward

A rendering of the proposed LNG Canada facility in Kitimat. Photo by LNG Canada

CALGARY, A.B. – Bloomberg is reporting that LNG Canada will move forward with a possible announcement as soon as Monday.

In a report on Sunday, Bloomberg says Shell and the partners in the facility in Kitimat have all approved the capital investment.

On Friday, two partners in the LNG Canada joint venture approved their share of the project’s estimated $40 billion investment, moving the chance of a positive final investment decision closer to reality.

Bloomberg is reported that the board of PetroChina Co., China’s largest oil and gas company, approved its $3.46 billion share of the LNG Canada project.

The company confirmed its decision in a filing to the Hong Kong stock exchange today, while Korea Gas Corp. made a similar announcement in Seoul.