Petronas and its Canadian subsidiaries Progress Energy Canada and Pacific NorthWest LNG have signed an agreement with PetroleumBrunei for the latter to acquire a 3% equity in Progress Energy Canada’s natural gas assets and in the proposed Pacific NorthWest LNG’s export facility in Canada. As part of the proposed transaction, PetroleumBrunei has agreed to buy a 3% share of the LNG facility's production for a minimum of 20 years.
The Pacific NorthWest LNG is a proposed liquefaction and export facility on Lelu Island (Port of Prince Rupert, British Columbia). The facility would liquefy and export natural gas produced by Progress Energy Canada in northeastern BC. It would be a C$9-11bn investment and would consist of two 6 Mt/year liquefaction trains (total capacity of 12 Mt/year, of which 0.36 Mt/year supplied to PetroleumBrunei). The terminal is expected to be commissioned in 2018.
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