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...