Indian Oil Buys Canadian Shale Assets, Stake in LNG Project

摘要

Malaysian state firm Petronas has agreed to sell a 10% interest in its shale gas assets in northeast British Columbia, as well as its proposed Pacific NorthWest LNG export facility, to Indian Oil Corp. (IOC) for an undisclosed amount. As part of the deal, IOC has agreed to offtake 1.2 million tons of LNG per year for 20 years, the two companies said. Petronas had previously disclosed that it planned to sell down its stake in the LNG export project and may yet sell an additional 15% stake to an unnamed Asia company. Petronas had previously held a 87% stake in the project, with Japan Petroleum Exploration (Japex) holding 10% and PetroleumBrunei the remaining 3%.