BEIJING, Oct. 9 (Xinhua) – The phase I of LNG Canada Project invested by PetroChina(PTR.NYSE) is about to enter implementation phase following the final investment decision approved recently, according to China National Petroleum Corporation (CNPC), parent company of PetroChina.
The project is carried out by a joint venture formed by PetroChina, Royal Dutch Shell (RDSA), Japanese Mitsubishi Company (MIT), Korea Gas Corporation (KOGAS), and Petroliam Nasional Berhad (PETRONAS), and is expected to be put into operation in 2024.
It is noted that the project has obtained a 40-year LNG export license, and will build and operate export facilities in Kitimat town in British Columbia, Canada.
The project is designed to build four production lines with an annual LNG production capacity of 28 million tonnes. Phase I project is planned to have two production lines with an annual output of 14 million tonnes of LNG.
The five parties will supply raw gas and gain LNG sales based upon their equity share. RDSA, PETRONAS, PetroChina, Japanese Mitsubishi Company and KOGAS own 40 percent, 25 percent, 15 percent, 15 percent and 5 percent of equity share, respectively. (Edited by Jiang Feifan, Niu Huizhe)
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