Petronas to acquire Montney Gas holding of Talisman Energy

Petronas acquired properties in Farrell Creek and Cypress areas of B.C in 2012, and are now being sold to Progress Energy Canada Ltd.

 Moore said: “In making my determination, I carefully considered the plans, undertakings and other information submitted by Progress Energy Canada Ltd. in light of the net benefit factors..”

 Talisman energy Inc. signed a deal in November in which Progress will acquire more than 51 000 net hectares of land in areas of Montney that Talisman owns through a 50-50 partnership with Sasol.

 The deal also includes interests in wells, processing plants and pipelines.

 Petronas has said it intends to invest up to $11 billion in a LNG export terminal near Prince Rupert, B.C.