Chevron and Apache team up at Kitimat LNG project
Chevron has shaken up the race to export liquefied natural gas (LNG) from Canada’s west coast by teaming up with Apache to develop the Kitimat LNG project
Shaun Polczer, CALGARY
In a series of transactions announced on 24
December 2012, Chevron bought out Houston-based EOG
Resources and Calgary’s Encana
Corporation’s 30% interests in the proposed 5
million tonne per year (t/y) Kitimat LNG export terminal.
Apache, which had a 40% interest in the project, then bought a
10% stake from Chevron, making the pair equal partners in the
development. Chevron will operate Kitimat :LNG.
The companies have also established a 50:50 upstream joint
venture, operated by Apache, to develop 655,000 acres of
undeveloped lands in the shale-gas rich Horn River and