Shaun Polczer, CALGARY:
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.
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...