Petronas looking at new LNG investments in Atlantic Basin

MALAYSIA’S state energy firm Petroliam Nasional is considering new investments in the Atlantic Basin for its liquefied natural gas (LNG) business, a senior executive said on Tuesday (Mar 19).

Known as Petronas, the company is aiming to increase its share of the global liquefied natural gas market to 10 per cent, senior vice-president for LNG Abang Yusuf said at the CERAWeek energy conference.

Petronas also is looking at taking an equity stake in the second phase of LNG Canada’s gas-export plant in Kitimat, British Columbia, on the west coast of Canada, he said. The plant’s first phase is scheduled to start producing chilled gas in the second half of the year.

Ben Daniel, a principal at Global Infrastructure Partners, told CERAWeek attendees that raising capital for new LNG projects has become more difficult because of environmental concerns. REUTERS