PETALING JAYA: Petroliam Nasional Bhd (Petronas) is set to become the second-largest partner in LNG Canada after striking a deal to buy 25% in the liquefied natural gas (LNG) project in Kitimat, British Columbia, Canada.
This is an about-turn of event for the national oil and gas company, which in July 2017 scrapped plans to invest in the C$36bil (RM111.5bil) Pacific NorthWest LNG gas pipeline project in British Columbia, Canada, due to prolonged depressed prices and unfavourable market conditions for the energy industry then.
