Rio Tinto PLC said on Wednesday it had reached an option agreement with LNG Canada to acquire or lease a wharf and associated land at its port facility in northern British Columbia. LNG Canada, a joint venture between Royal Dutch Shell PLC , Mitsubishi Corp, Korea Gas Corp and PetroChina Co Ltd, is developing a natural gas liquefaction plant and export terminal in Kitimat, some 750 kms (465 miles) up the Pacific coast from Vancouver.The agreement, which will give LNG Canada access to Rio Tinto's deep water port in Kitimat, provides the group with a staged series of options payable against project milestones. Rio did not disclose the financial terms of the deal, saying they were "commercially confidential."The LNG Canada project is just one of about a dozen export terminals proposed for British Columbia's Pacific Coast as companies race to build the infrastructure needed to get cheap Canadian gas to booming markets in Asia.While top global energy players like Shell, Chevron Corp and Malaysia's Petronas have already spent hundreds of millions on their Canadian projects, none have made a final investment decision.
PetroChina Company Limited is mainly engaged in the production and sale of oil and gas related products. Shares of PTR traded higher by 0.35% or $0.36/share to $102.31. In the past year, the shares have traded as low as $94.75 and as high as $140.09. On average, 183865 shares of PTR exchange hands on a given day and today's volume is recorded at 91163.
Shares of RDS-B traded higher by 0.95% or $0.705/share to $74.92. In the past year, the shares have traded as low as $65.02 and as high as $76.39. On average, 1103870 shares of RDS-B exchange hands on a given day and today's volume is recorded at 908629.
Rio Tinto plc (Rio Tinto) is an international mining company. Shares of RIO traded higher by 1.72% or $0.9832/share to $58.28. In the past year, the shares have traded as low as $39.14 and as high as $58.90. On average, 2441970 shares of RIO exchange hands on a given day and today's volume is recorded at 3546468.
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