Exploration & Production | Government & Regulatory
PETRONAS, Progress Laud Canadian NGL Investment Support
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PETRONAS and Progress Energy Resources Corp. (Progress) welcome the Canadian Minister of Industry's decision to approve the acquisition of Progress by PETRONAS Carigali Canada Ltd. (PETRONAS Canada), which will help develop Canadian natural gas for the global liquefied natural gas (LNG) export market.
"This approval by the Canadian government marks a vital step in our plans to develop a LNG export business and opens promising new business opportunities for Progress, British Columbia and Canadian trade expansion," said Michael Culbert, President and CEO, Progress. "Canada has great potential in the global LNG market – a growing market that’s already worth more than $300 billion per year. While international LNG trade is intensely competitive, new facilities such as our Pacific Northwest…
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