KUALA LUMPUR, MALAYSIA — An executive with Petronas says the company is looking at becoming a partner in a pipeline project to help move natural gas from its properties in northeast B.C..
The Globe and Mail is reporting that executive vice-president Anuar Taib told the Malaysian government’s news agency Bernama that Petronas needs pipeline access to market its natural gas from the North Montney area, after cancelling the Pacific NorthWest LNG project last month.
Taib, who is the former chairman of Pacific NorthWest LNG, didn’t mention a specific pipeline project. However, he did emphasize that it its important for the company to unlock the value of its natural gas reserves in B.C., adding “there must be ways for us to monetize those resources.”
“We are now looking at the possibility of working together with partners or parties to look at a pipeline that could be built to connect that area to the rest of Canadian market,” he told Bernama.
In March, TransCanada sought approval from the National Energy Board to build a portion of its $1.4-billion North Montney pipeline. Petronas subsidiary Progress Energy Canada Ltd., said it supported the revised application – a scaled-down version of the original $1.7-billion proposal.
On Wednesday, TransCanada said in a statement that its pipeline network accounts for more than one-quarter of the natural gas transported daily across North America: “Through our system, we have the ability to move natural gas from the prolific North Montney play to market hubs across the continent, including to the U.S. Gulf Coast.”