News Summary: PetroChina in Canada LNG project

AP News

5/16/2012 12:25:57 PM - AP News

CHINA CONNECTION: Asian energy giant PetroChina plans to join with Shell Canada and major energy companies in Japan and South Korea to develop a liquefied natural gas export project in British Columbia.

SHELL SHARE: Shell will hold a 40 percent stake in the project, with Korea Gas Corp., Mitsubishi Corp. and PetroChina Co. each holding 20 percent shares.

TANKERS TOO: The plan calls for tankers to transport LNG from the northwest coast port of Kitimat, British Columbia, the end point of a proposed pipeline that will direct oil to energy-hungry Asian markets.