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Petronas considering pipeline investments to monetise Canada gas assets

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LNG Industry,

Reuters are reporting that Petronas is considering investing in a pipeline to market its Canadian gas assets after scrapping plans for a LNG project in Canada.

Petronas would use the pipeline to connect and market natural gas resources from an area of western Canada which has 22.3 trillion ft3 of proven unconventional gas to the rest of Canada and North America.

Petronas scrapped its proposed US$29 billion LNG export terminal in western Canada last month due to weak global prices, in a blow to its ambitions to expand its LNG portfolio beyond Malaysia.

Petronas is looking at buying a 15% stake in the LNG Canada project that is led by Royal Dutch Shell and located in British Columbia.

Petronas is also exploring the viability of transporting natural gas through existing pipelines to the US Gulf Coast.

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