Thursday, February 13, 2014

Petronas looks to India for North Coast LNG investment

As the planning for the Pacific Northwest LNG project continues, Petronas, the Malaysian based energy giant is looking for India for further investment into the Lelu Island project.

They recently brought in Japan Petroleum Exploration and Petroleum Brunei as partners over the last year and in recent discussions have begun to woo the Indian Oil Corporation, looking to bring that company in as investor and customer.

A collection of partners that provides a sample of the international flavour and attention that the percolating LNG industry in British Columbia is attracting.

According to a report in the Globe and Mail, Indian Oil is giving consideration to acquiring at least a 10 per cent interest in Pacific Northwest LNG.

It's expected that Petronas will make its final investment decisions regarding Pacific NorthWest LNG
by the end of this year.

The Pacfic Northwest project is one of four that have been announced for the North Coast, with all of them in varying degrees of progress towards final decisions and the possible start of the planning and construction phases.

Further background on the latest of items from Petronas below

Globe and Mail-- Petronas Courts Indian Oil for B. C. LNG investment
Wall Street Journal-- Indian Oil Close to Buying Some Petronas Canadian Assets
FMT News-- Petronas nears deal with Indian Oil Corp
NDTV-- CCEA defers approval to Indian Oil stake purchase in gas assets: report

Our Archive page on Petronas/Pacific Northwest LNG items can be found here.

You can review our full collection of LNG files from our archive page.

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