Petronas Offers Canada Band Almost $1 Billion to Back LNG
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The Petroliam Nasional Bhd-led group planning a natural gas export terminal on Canada’s Pacific Coast is offering one aboriginal community C$1.15 billion ($950 million) over 40 years to approve the project.
Pacific NorthWest LNG, led by the Malaysian state-owned energy producer, is offering the payments to the Lax Kw’alaams First Nation so it can build the unit on the community’s traditional lands at the port of Prince Rupert in northern British Columbia, the native group said on its website. The deal also includes incentives from the provincial government and gas pipeline developers.