January 14, 2013
Partnership paves way for LNG facility
APACHE CANADA LTD.
The proposed Kitimat Liquid Natural Gas (LNG) export facility has taken a major step forward as Chevron Canada Limited signs a series of merger and acquisition transactions to construct the project and develop shale gas in northeastern, B.C.
“This investment grows our global LNG portfolio and builds upon our LNG construction, operations and marketing capabilities,” said George Kirkland, vice chairman, Chevron Corporation.
“It is ideally situated to meet rapidly growing demand for reliable, secure, and cleaner-burning fuels in Asia, which are projected to approximately double from current levels by 2025.”
Chevron Canada Limited signed a broad agreement with Apache Canada Ltd. to acquire all of the interests currently owned by EOG Resources Canada Inc. and Encana Corporation in the proposed Kitimat LNG project.
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|ALEX’S ECONOMICS BLOG|
Reed Construction Data Canada’s Chief Economist Alex Carrick discusses current developments in the North American economic environment with emphasis on the construction industry.
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