Liquefied natural gas business MidOcean Energy has completed its acquisition of a 20% stake in the partnership that holds Petronas’ 25% interest in the LNG Canada Project.
The deal includes a 20% stake in the North Montney Upstream Joint Venture, Petronas’ upstream partnership in Canada, as well as a 20% stake in the North Montney LNG Limited Partnership, which holds Petronas’ 25% share in the LNG Canada Project.
The acquisition gives MidOcean access to around 0.7 million tonnes per year of LNG, with potential for additional volumes under LNG Canada Phase 2.
LNG Canada is the country’s first LNG export project. Phase 1 of the project comprises two liquefaction trains with a combined capacity of 14 million tonnes per annum.
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