Petronas to Finalize Canadian LNG Plans by 2014

Petronas is expected to make a final decision about its Canadian shale gas venture by the end of 2014.

The Malaysian energy giant is planning to build its own LNG terminal in British Columbia which will export the fuel back home. The company has partnered with Canada’s Progress Energy Resources for the project and also has a 50% stake in the Canadian firm’s three shale gas assets in British Columbia.

There has been no progress yet on the company's discussion to strike a Canadian deal exceeding $5bil, in what was said to be a bid to drive the supply of natural gas to Asia, Malaysia Star reported.

Meanwhile, Petronas has also has made a final investment decision to go ahead with development of a floating LNG facility in Sarawak state on the island of Borneo which it hopes to commission in 2015, Dow Jones reported.