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Petronas to spend $5 billion on Canadian LNG project -executive

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(Globalpost/GlobalPost)

KUALA LUMPUR (Reuters) - Malaysian state oil and gas firm Petronas expects to spend $5 billion on a project in west Canada to export liquefied natural gas (LNG), a senior company official said on Tuesday.

The project, known as Pacific NorthWest LNG, will build two LNG trains of 6 million tonnes per year (tpy) each by the end of 2018 or 2019, Arif Mahmood, vice president of corporate planning at Petronas told an industry conference.

Petronas also plans to make a final investment decision on its second floating LNG project in Malaysia later this year, he said. The FLNG project will be at the Rotan Field in Block H and could start production in 2016, he said.

(Reporting by Florence Tan; Editing By Tom Hogue)

(This story was refiled to correct the name of the LNG project in Canada to Pacific NorthWest LNG)

http://www.globalpost.com/dispatch/news/thomson-reuters/130611/petronas-spend-5-billion-canadian-lng-project-executive