Petronas reaches FID on LNG Canada
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas), together with its joint venture participants, it has taken a final investment decision (FID) on LNG Canada, a major liquefied natural gas (LNG) project in Kitimat, British Columbia, Canada.
Petronas, through its whollyowned entity, the North Montney LNG Limited Partnership (NMLLP), holds a 25 per cent participating interest in the project, with joint venture participants Royal Dutch Shell plc, through its affiliate Shell Canada Energy (40 per cent); PetroChina Company Ltd, through its subsidiary PetroChina Canada Ltd (15 per cent; Mitsubishi Corporation, through its subsidiary Diamond LNG Canada Ltd (15 per cent); and Ko-
The final investment decision with its joint venture participants is a significant milestone for Petronas and for the energy industry in Canada. Tan Sri Wan Zulkiflee Wan Ariffin, Petronas president and group CEO
rea Gas Corporation, through its wholly-owned subsidiary Kogas Canada LNG Ltd (five per cent).
The project is operated through LNG Canada Development Inc.
“The final investment decision with its joint venture participants is a significant milestone for Petronas and for the energy industry in Canada.
“The decision is a testimony of the strong collaboration among our partners and stakeholders who share the same aspiration of delivering long-term value via LNG, in line with our commitment to sustainable and responsible development of resources,” said Petronas president and group CEO Tan Sri Wan Zulkiflee Wan Ariffin.
“This is the first LNG project in Canada and the project will pave the way for us to add value to our world-class gas resources in the North Montney area and strengthen our supply portfolio for LNG to the Asian markets,” Wan Zulkiflee said.
The LNG export facility, which will be built in Kitimat, British Columbia, includes the design, construction and operation of a natural gas liquefaction plant and facilities for the storage and export of LNG, including marine facilities.
LNG Canada will initially consist of two LNG liquefaction processing units referred to as “trains,” for a total of approximately 14 million tonnes per annum with the potential to expand to four trains in the future.
Petronas and its North Montney joint venture partners, are one of the largest natural gas resource owners in Canada with over 52 Tcf of reserves and contingent resources.