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Friday, March 18, 2011

Encana to purchase stake in Apache, EOG's LNG export terminal in Canada

Canada's Encana Corporation agreed to buy a 30 percent interest in the planned Kitimat LNG export terminal and the associated natural gas pipeline , Pacific Trail Pipelines (PTP), from Apache Corp and EOG Resources for an undisclosed amount. Apache will sell 11 percent of its interest, while EOG will sell 19 percent interest in the Kitimat LNG terminal and PTP. Apache will retain operatorship with a 40 percent interest, while EOG will own a 30 percent interest after the transaction.

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