Deals
Shell, Partners Announce $31 Billion LNG Canada Investment
- Project will create new route to Asia for North American gas
- Investment to be Canada’s largest infrastructure project
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Royal Dutch Shell Plc and its partners announced an agreement to invest in a multibillion-dollar liquefied natural gas project in western Canada -- the largest of its kind in years that will carve out the fastest route to Asia for North American gas.
LNG Canada -- comprised of Shell, Malaysia’s Petroliam Nasional Bhd, Mitsubishi Corp., PetroChina Co. and Korea Gas Corp. -- confirmed the expected final investment decision in the C$40 billion ($31 billion) project, according to a statement from Shell on Tuesday. Bloomberg News reported Sunday that the group had approved the investment and an announcement was imminent.