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Message: Re: Article Kitimat

Jan 19, 2010 03:19PM

Jan 19, 2010 04:18PM

Jan 19, 2010 04:23PM

Jan 19, 2010 05:30PM

I don't know if you have seen this(EOG is in on this):

Apache Corp., the biggest U.S. independent oil and natural-gas producer by market value, said its Canada subsidiary agreed to acquire 51% of Kitimat LNG Inc.'s planned liquefied natural-gas export terminal in British Columbia.

The Houston-based company also reserved 51% of capacity of the terminal, it said in a statement. Bill Mintz, an Apache spokesman, declined to give a purchase price for the stake.

The terminal, which is expected to cost about $3 billion to build, will have planned capacity of about 700 million cubic feet of natural gas per day, said Apache. The company had already signed a memorandum of understanding, which included an option to buy an equity stake in the project, to supply natural gas to the terminal, Kitimat announced Aug. 10.

"We feel very good about that project and think it has great potential to move forward," John Crum, president of Apache's North America business, told analysts Dec. 9 at an energy conference.

A final investment decision in the project is expected by 2011, and the first LNG shipments are expected to occur in 2014, said Apache, which will become the terminal's operator.

EOG Resources Inc. and Korea Gas Corp. have also signed gas-supply agreements for the terminal, Kitimat said previously.


Jan 19, 2010 07:19PM

Jan 21, 2010 12:09PM
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