Plans for LNG Terminal in British Columbia Get Green Light Malaysia’s state run energy company, Petroliam Nasional, or Petronas, is moving forward with plans to invest C$36 billion to build a liquefied natural gas (LNG) plant in British Columbia.

Prime Minister Stephen Harper and his Malasian counterpart, Prime Minister Najib Razak, hailed the project during a press conference outside of Kuala Lumpur Saturday. Harper added that Petronas is considering future investments.

The pipeline will be built in Prince Rupert, and will process natural gas extracted by Progress Energy and shipped through a pipeline built by TransCanada Corp. Shipments are expected to start in 2018.

Petronas purchased Progress Energy in 2012.

Petronas’ investment includes the cost of acquiring Progress Energy, constructing the terminal and the pipeline, and drilling wells. More information located here:  http://www.businessweek.com/news/2013-10-06/petronas-plans-35-billion-lng-project-in-canada-najib-says

By CWAN Global Press

The Canadian Wealth Advisors Network (CWAN) was established in March of 2009 as an online forum where investment professionals share ideas and best practices that allow them to meet the growing needs of their clients. As the CWAN community grew and evolved, it was expanded to serve both advisors and investors. Garnet O. Powell, MBA, CFA is the Editor-in-Chief of the Canadian Wealth Advisors Network (CWAN) magazine. He is an investment management professional with more than 20 years of experience. linkedin.com/in/garnetpowell

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