Japex inks Pacific Northwest LNG stake

摘要

Vancouver—The Canadian subsidiary of Japan Petroleum Exploration Company has closed an acquisition of a 10% upstream and downstream stake in Canada’s Pacific Northwest LNG project, strengthening the operator’s hopes of having offtake commitments in place by year’s end. The newly-created JAPEX Montney said April 29 it has agreed to buy 1.2 million mt/ year of the LNG facility’s production for a minimum of 20 years for domestic use in Japan as well as securing a 10% equity stake in the project by Progress Energy Canada, whollyowned by Malaysia’s Petronas.