Mitsubishi Signs on $31 Bln LNG Canada Project

Tuesday, October 2, 2018

Japanese trading house Mitsubishi Corp said on Tuesday it will join in developing the LNG Canada project in British Columbia led by Royal Dutch Shell, which has taken a final investment decision to go ahead with the development.

The C$40 billion ($31 billion) project, on the west coast of Canada, will consist of two liquefied natural gas (LNG) production facilities, known as trains, that are expected to export about 14 million tonnes per year of the fuel.

LNG Canada is a joint venture between Shell, Malaysia's Petronas, PetroChina Co Ltd, Mitsubishi and Korea Gas Corp.

Mitsubishi said it share of the project is 15 percent and it will take delivery of 2.1 million tonnes of LNG annually, based on its share.


($1 = 1.2822 Canadian dollars)

(Reporting by Yuka Obayashi and Osamu Tsukimori; Editing by Aaron Sheldrick and Kenneth Maxwell)

Categories: Finance LNG Shale Oil & Gas

Related Stories

Saipem Bags $400M in Offshore Contracts from Aramco in Saudi Arabia

Toyo, OneSubsea Form Subsea CCS Partnership

TotalEnergies Eyes Black Sea Exploration with Türkiye’s TPAO

Petra Energy Secures Work Orders from Petronas for Sarawak Gas Project

Israel Orders Restart of Ops at Karish Offshore Gas Platform

Nam Cheong Locks In Two OSV Charters amid Tight Southeast Asia Supply

Fire at ONGC's Offshore Platform Injures 10, Operations Normalized

Iran War Reshapes Global LNG Trade

INPEX Extends Pertamina LNG Pact, Signs Upstream MoU in Southeast Asia

Iran War Sends LNG Prices Soaring, Curbing Asia Demand

Current News

Metropolitan CCS Cleared to Drill CO2 Storage Wells off Japan

Saipem Bags $400M in Offshore Contracts from Aramco in Saudi Arabia

Toyo, OneSubsea Form Subsea CCS Partnership

Japan to Launch $10B Fund to Help Asia Secure Oil

TotalEnergies Eyes Black Sea Exploration with Türkiye’s TPAO

IEA Cuts Oil Demand, Supply Outlook Amid Iran War

Philippines Seeks US Extension to Buy Russian Oil

Borr Drilling Expects Higher Activity as Rigs Return to Work

Iran-Linked Tankers Sail Through Hormuz Before US Blockade

China Calls for De-Escalation as US Threatens Hormuz Blockade

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com