Company Overview of Pacific NorthWest LNG Ltd.

Pacific NorthWest LNG Ltd. is said to be considering acquiring a minority stake in the Shell-led LNG Canada project. The Globe and Mail is reporting that Petroliam Nasional Berhad (PETRONAS) could acquire a 15% interest in LNG Canada that is currently held by Korea Gas Corporation (KOSE:A036460)

Progress Energy Canada Ltd. (PECL) and Pacific NorthWest LNG (PNW LNG) announced the appointment of Mr. Anuar Taib, EVP and CEO PETRONAS Upstream as Chairman of the Board of both PECL and PNW LNG. Mr. Michael Culbert will step down from day to day responsibilities as President of PNW LNG and continue with his leadership position with PECL as President and CEO. Mr. Culbert will also continue to serve as a Director on the Boards of both PECL and PNW LNG. Mr. Culbert has also been appointed the PETRONAS Country Chair for Canada with oversight responsibilities for PETRONAS activities. Mr. Adnan Zainal Abidin is appointed President and CEO of PNW LNG. Mr. Zainal Abidin has spent his career with PETRONAS and brings the LNG project management and construction expertise required for the next phase of the Pacific NorthWest LNG project.

Petronas has named a new president at Pacific NorthWest LNG to oversee construction of the B.C. project. Adnan Zainal Abidin, vice-president of global LNG projects at Petronas, will take over as Pacific NorthWest LNG president. The industry veteran joined Petronas in 1984 and rose through the ranks to become an expert in liquefied natural gas. Michael Culbert, who has been Pacific NorthWest LNG president since October, 2014, will step down from that position and focus on his duties as chief executive officer of Progress Energy Canada Ltd. Pacific NorthWest LNG also announced that it has a new chairman, Anuar Taib, who heads upstream operations at Petronas. He replaces former Petronas executive vice-president Wee Yiaw Hin, who retired recently.