Anwar hails PETRONAS over LNG Canada project
PETALING JAYA: The ability of Malaysia’s national oil and gas company to undertake large-scale energy projects with international partners reflects confidence in the country’s expertise and capabilities, says Datuk Seri Anwar Ibrahim.
The Prime Minister’s comments were in reference to PETRONAS and its partners having reached a final investment decision on the C$33bil (about RM94.7bil) LNG Canada Phase 2 expansion in British Columbia.
The move paves the way for massive private investment in the Kitimat facility, doubling its annual production capacity from 14 million to 28 million tonnes.
“Congratulations to the entire PETRONAS team on this achievement,” Anwar said in a Facebook post yesterday.
In welcoming the development, he said the expansion would make LNG Canada one of the world’s largest liquefied natural gas facilities while strengthening energy supplies to international markets.
Anwar also thanked Canadian Prime Minister Mark Carney for Ottawa’s support of PETRONAS.
“I welcome the prospect of meeting Prime Minister Carney and the Canadian delegation in the future to strengthen our friendship and expand cooperation between Malaysia and Canada,” he said.
LNG Canada announced on Monday that its joint venture participants – Shell, PETRONAS, PetroChina, Mitsubishi Corporation and KOGAS – had made the final investment decision on the Phase 2 expansion.
The expansion will include an additional LNG storage tank, condensate tank and loading berth, as well as expanded utility and processing systems.
According to the Canadian Prime Minister’s Office, the C$33bil investment would make LNG Canada the second-largest facility of its kind in the world and create more than 4,000 direct jobs during the construction phase.
LNG Canada is a joint venture comprising Shell Canada with a 40% stake, PETRONAS with 25%, PetroChina and Mitsubishi Corporation with 15% each, and KOGAS with 5%.
