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Chevron to buy half of Kitimat LNG project in deals with Encana, EOG, Apache

Canadian Press, The Canadian Press
0 Comments| December 24, 2012

CALGARY - Chevron Canada Ltd. is moving to acquire a 50 per cent stake in a proposed liquefied natural gas export terminal near Kitimat, B.C., in a series of deals that will result in the exit of two of the three current partners.

Under the deal, the subsidiary of Chevron Corp. (NYSE:CVX) has agreed to buy out the stakes held by Encana Corp. (TSX:ECA) and a subsidiary of EOG Resources, Inc. (NYSE:EOG), which each hold 30 per cent.

© The Canadian Press, 2005

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