Posted Nov 13, 2013, 5:03 PM
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is watching.
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Join Date: Apr 2007
Location: Greater Victoria
Posts: 3,083
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China’s CNOOC gets exclusive rights to LNG lands in B.C.
Financial Post - Nov 12, 2013
Quote:
China’s CNOOC Ltd. has plunked down $12-million with the British Columbia government to secure lands for a potential liquefied natural gas plant on Canada’s West Coast, in the latest move by a state-owned energy company doubling down on the province’s gas resources.
CNOOC, which last year bought Calgary-based Nexen Inc. in China’s largest-ever overseas acquisition, has teamed up with Japan’s Inpex Corp. and JGC Corp. to build an export terminal at Grassy Point, a narrow peninsula about 30 kilometres north of Prince Rupert, B.C., the province said Tuesday.
CNOOC would own 60% of Aurora LNG, with Inpex and JGC owning a combined 40%, Nexen CEO Kevin Reinhart said at a press conference in Vancouver announcing the deal. The arrangement gives Nexen exclusive rights to pursue long-term access to the Crown land, the company said in statement.
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