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LNG Canada partners Shell, Petronas, PetroChina, Mitsubishi, KOGAS take FID on LNG project

Singapore — LNG Canada said its joint venture partners Royal Dutch Shell, Malaysia's Petronas, state-run PetroChina, Mitsubishi and South Korea's KOGAS have taken a final investment decision to build the LNG export facility in Kitimat, British Columbia on Tuesday.

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The FID is for two processing units or trains, with the first LNG cargo expected before the middle of the next decade, the companies said in a joint statement, adding that each partner will be responsible for providing its own natural gas supply and will individually market its share of LNG.

LNG Canada said it enjoys advantages like access to low-cost natural gas from British Columbia's reserves and relatively short shipping distance to North Asia, which is about 50% shorter than the US Gulf of Mexico avoiding the Panama Canal.

The LNG Plant will have a deep-water port and TransCanada will build the 670-km Coastal GasLink pipeline that will connect natural gas from northeastern British Columbia to the export plant in Kitimat.

Shell has a 40% stake in LNG Canada through it local affiliate, Petronas has a 25% interest, PetroChina has 15%, Mitsubishi has 15% and Kogas has 5%.

--Eric Yep, eric.yep@spglobal.com

--Edited by Liz Thang, elizabeth.thang@spglobal.com