Petronas given Canadian gas green light

Petronas has been given the green light by Canada’s Federal Industry Minister James Moore to acquire Talisman Energy’s Montney natural gas assets in British Columbia through its subsidiary Progress Energy Canada for $1.5bn.

The properties are located in the Farrell Creek and Cypress areas of British Columbia.

Petronas has said it intends to invest up to $11bn in a LNG export terminal near Prince Rupert, British Columbia.