Chevron to buy stake in Kitimat LNG, BC shale basins

摘要

Chevron Canada Ltd. plans to acquire a 50% state in the Kitimat LNG project and proposed Pacific Trail Pipeline (PTP) and a 50% interest in 644,000 acres in the Horn River and Liard basins in British Columbia. The sellers involved are EOG Resources Canada Inc., Encana Corp., and Apache Corp. The companies didn't disclose the amount Chevron agreed to pay for stakes in the planned LNG export terminal and the shale-gas discoveries in northern British Columbia. Analysts said net proceeds to Apache were estimated at $400 million. Kitimat is not expected to become operational until 2016 at the earliest.