Last week the Canadian government approved Petronas’ US$5.3 billion takeover bid for Toronto-listed Progress Energy Resources, along with a US$15.1 billion takeover of energy company Nexen by China’s CNOOC.
Petronas revealed its development plans for Canada in a joint statement with Progress on Monday. It said its growth plans included the construction of the Pacific Northwest LNG export facility on Lelu Island near Port Rupert, British Columbia, as well as the continued upstream development of natural gas production in the Montney region of north-east British Columbia and north-west Alberta.
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