Shell: to go ahead with LNG Canada project
(CercleFinance.com) - Shell has taken a final investment decision on LNG Canada, a major liquified natural gas project in British Columbia, in which the oil major has a 40% stake.
Besides Shell Canada, the joint venture includes the North Montney LNG Limited Partnership (25%); PetroChina (15%); Mitsubishi Corporation (15%); and Korea Gas Corporation (5%).
The first LNG is expected by the mid 2020s.
The move comes as LNG appears to have an attractive long-term demand outlook, with demand continuing to grow strongly.
"Supplying natural gas over the coming decades will be critical as the world transitions to a lower carbon energy system," said Ben van Beurden, CEO of Royal Dutch Shell.
Global LNG demand is expected to double by 2035, Shell added.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Besides Shell Canada, the joint venture includes the North Montney LNG Limited Partnership (25%); PetroChina (15%); Mitsubishi Corporation (15%); and Korea Gas Corporation (5%).
The first LNG is expected by the mid 2020s.
The move comes as LNG appears to have an attractive long-term demand outlook, with demand continuing to grow strongly.
"Supplying natural gas over the coming decades will be critical as the world transitions to a lower carbon energy system," said Ben van Beurden, CEO of Royal Dutch Shell.
Global LNG demand is expected to double by 2035, Shell added.
Copyright (c) 2018 CercleFinance.com. All rights reserved.