Published: December 24, 2012
Chevron Subsidiary Acquires Operating Interest in Western Canada LNG Project
SAN RAMON, Calif. - (BUSINESS WIRE) - Chevron Corporation (NYSE: CVX) today announced that its indirect
Canadian subsidiary, Chevron Canada Limited, will acquire a 50 percent
operating interest in the Kitimat liquefied natural gas (LNG) project
and proposed Pacific Trail Pipeline (PTP), and a 50 percent interest in
approximately 644,000 acres of petroleum and natural gas rights in the
Horn River and Liard Basins in British Columbia, Canada.
"The Kitimat LNG development is an attractive opportunity that is
aligned with existing strategies and will drive additional long-term
production growth and shareholder returns," said George Kirkland, vice
chairman, Chevron Corporation.
"This investment grows our global LNG portfolio and builds upon our LNG
construction, operations and marketing capabilities. It is ideally
situated to meet rapidly growing demand for reliable, secure, and
cleaner-burning fuels in Asia, which are projected to approximately
double from current levels by 2025."
To read the complete release at NewsBlaze,
Chevron Subsidiary Acquires Operating Interest in Western Canada LNG Project,
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