Japex to sell 10% stake in Canadian shale gas project to Petronas 14 May 2021 (Last Updated May 14th, 2021 09:09)
Japex fianlises deal to divest its 10% stake in shale gas project in Canada to Petronas Energy Canada.
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Japan Petroleum Exploration (Japex) has decided to sell its 10% interest in the Canadian shale gas project to Petronas Energy Canada (PECL) for an undisclosed sum.
Japex will divest its stake in the North Montney (NM) joint venture through its subsidiary Japex Montney.
The NM is responsible for shale gas development and production in the North Montney area of British Columbia.
The shale gas project would have provided gas for the Pacific North West LNG project, which was cancelled in 2017 due to challenging environment and low prices.