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 $31 billion project as early as Monday. LNG Canada will be able to send cargoes from Kitimat, British Columbia to Tokyo in about eight days versus 20 days from the U.S. Gulf. LNG Canada promises better prices for the country, whose energy exports are sold almost exclusively to the U.S. at depressed prices for lack of a coastal facility. LNG Canada proposes to eventually export as much as 26 million tons per year. Shell holds 40 per cent of LNG Canada, with Petronas at 25 per cent, 15 per cent each for PetroChina and Mitsubishi, and Kogas with 5 per cent.

Source: thestar October 01, 2018 16:30 UTC