Petronas seeks LNG partner to ease funding load

摘要

Malaysian state-owned oil company Petronas is finding that an expanded portfolio of overseas development pro- jects is creating a capital balancing act with its growing domestic upstream business. Petronas is seeking an additional partner for its Pacific Northwest LNG project in western Canada to ease the financial burden of a development that is now expected to cost $20bn. Petronas, which sold a 10pc interest in the project to Japanese upstream firm Japex in April, is keen to sell as much as a 40pc stake, vice-president for strategic planning Arif Mahmood says.