PetroChina to develop Canadian LNG project

BEIJING - PetroChina Company Limited announced Wednesday that it will cooperate with Shell Canada Ltd, Korea Gas Corporation and Mitsubishi Corporation to jointly develop a proposed liquefied natural gas (LNG) project near Kitimat, British Columbia, Canada.

Shell will hold a 40-percent working interest in the project, while the other three companies will each take a 20-percent share, according to a news release by PetroChina.

The proposed LNG Canada project will include the design, construction and operation of a gas liquefication plant, and facilities for the storage and export of LNG, said the news release.

The first phase of the project consists of two LNG processing units, each with an annual capacity of 24 million tons, according to PetroChina.

"PetroChina is very confident in the future of the LNG Canada project. This project will contribute to a further strengthening of trade relationships between China and Canada...," said Bo Qiliang, vice president of PetroChina.