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Progress Energy changes name to PETRONAS Energy Canada

Progress Energy Canada Ltd. has changed its name to PETRONAS Energy Canada Ltd. (PETRONAS Canada), effective November 22. PETRONAS is Malaysia's fully integrated oil and gas multinational ranked among the largest corporations on FORTUNE Global 500. PETRONAS entered Canada as part of a joint venture with Progress Energy in 2010, and Progress Energy became a subsidiary of PETRONAS in 2012.

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$40 billion LNG Canada project to move forward

A rendering of the proposed LNG Canada site just outside Kitimat, BC.

British Columbia's long-awaited liquefied natural gas industry could be shipping product by the middle of the next decade after proponents of a $40 billion LNG plant confirmed they would proceed with construction.

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Petronas to acquire 25 percent of LNG Canada

Petronas to acquire 25 percent of LNG Canada

Shell Canada Energy, PetroChina Kitimat LNG Partnership, Diamond LNG Canada Ltd. and Kogas Canada LNG Ltd. announced that Petroliam Nasional Berhad ("PETRONAS") will take an equity position in LNG Canada, located in Kitimat, British Columbia on the west coast of Canada, through its wholly owned entity the North Montney LNG Limited Partnership ("NMLLP"), subject to regulatory approvals and closing conditions.

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Petronas pulls plug on Pacific Northwest LNG

Prince Rupert harbour.  – www.flickr.com/photos/maethlin, used under Creative Commons license creativecommons.org/licenses/by-nc-nd/2.0/

One of British Columbia's flagship liquefied natural gas projects has been cancelled. Pacific Northwest LNG, the $36 billion project set just outside Prince Rupert on the B.C. North Coast, will not proceed, the company stated in a press release Tuesday, July 25. According to the announcement, the Petronas-backed project - approved by the federal government last fall - was spiked after a review conducted because of market condition changes.

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