Chevron in talks to sell stake in LNG project: Reuters

Chevron Corp is exploring options including the sale of a minority stake in its Canadian liquefied natural gas project as it pushes ahead, sources told Reuters. Among the parties in talks with Chevron for a possible stake in Kitimat LNG are Petroliam Nasional Bhd, or Petronas, which scrapped its own US$36 billion LNG project in British Columbia last year due to challenging market conditions. Chevron is also considering selling a stake in the project to a financial investor such as a Canadian pension fund or a private equity firm. The B.C. project is a 50-50 joint venture with Australia’s Woodside Petroleum Ltd.

DealsCanadaNorth AmericaBriefs