Petroleum Brunei agrees to acquire 3 per cent stake in PETRONAS’s Canadian LNG facility

Petroleum Brunei, has agreed to acquire a 3 per cent stake in PETRONAS’s Canadian LNG facility, 3 per cent of its production for a minimum of 20 years, as well as 3 per cent of its shale gas assets. PETRONAS owns the LNG facility and gas assets via its Canadian subsidiaries – Pacific NorthWest LNG and Progress Energy Canada. Following the transaction, PETRONAS’s stake in the Pacific North West LNG export facility will decrease from 90 per cent to 87 per cent.