Support local news and get a FREE mug!

 

The deal gives the Malaysian company, Petronas, a 50 per cent stake in the working interest to develop part of the Montney shale assets, in Northeast B.C.

The specific assets are the Altares, Lily and Kahta properties.

“Both parties have worked diligently and cooperatively towards the completion of the agreements that form the basis of our strategic partnership,” said Michael Culbert, president and CEO of Progress.

Petronas will also be examining the possibility of developing a Liquefied Natural Gas export facility on the province’s west coast. The feasibility study for the project is expected to begin immediately.

Report an error

Read our guiding principles

Thanks for reading!

Our goal is to cover all the local news and events happening in Northeast B.C. If you believe in this coverage, becoming a Supporter is a great way to help!

As a Supporter, you also get our investigative stories early and a FREE mug!

More stories you might like