Canada LNG could spark merger boom

New partners?: Export thirst could mean more tie-ups

AP/Scanpix

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By News Wires

 06 February 2012 21:06 GMT

A handful of liquefied natural gas export facilities proposed for Canada's Pacific Coast could spark a round of acquisitions and new joint ventures as the projects' backers look to secure sufficient natural gas supplies to fill their facilities, a report said on Monday.

Spurred by low North American natural gas prices and the discovery of big new shale and other unconventional gas fields in northern British Columbia, a number of companies are mulling construction of LNG export facilities to tap Asian markets willing to pay high prices for the fuel, Reuters reported an analyst as saying.

Canada's National Energy Board has already handed LNG-export licenses to two planned liquefaction projects on the Pacific Coast near Kitimat, British Columbia: Kitimat LNG, backed by Apache, Encana and EOG Resources; and to BC LNG, a privately held 13-member…

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