Shell, partners approve huge $40-billion LNG Canada project, sources say
KUALA LUMPUR, Malaysia — Royal Dutch Shell Plc and its four partners have agreed to invest in a multibillion-dollar liquefied natural gas project in Kitimat, B.C. — the largest new one of its kind in years that would carve out the fastest route to Asia for North American gas.LNG Canada — comprised of Shell, Malaysia’s Petroliam Nasional Bhd, Mitsubishi Corp., PetroChina Co. and Korea Gas Corp. — is set to announce a final investment decision on the $40 billion (US$31 billion) project as early as Monday, said people with direct knowledge of the plans, who asked not to be identified because the matter isn’t public. The exact timing still hasn’t been decided.
PetroChina and Korea Gas announced approvals of their share of the investment on Friday. The others partners declined to comment.
The project marks a turning point for Canada and the gas industry.
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