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Canada-Asia News Service
Top stories of Canada-Asia business and government relations. Following a story? Search the archives by keyword.
PetroChina Buys 20% Stake in Shell's LNG Project in Northern BC
Beijing-based PetroChina Co. Ltd has signed an agreement to acquire a 20% stake in Anglo-Dutch Royal Dutch Shell PLC’s Groundbirch liquefied natural gas project proposed for Kitimat, B.C., with partners from Asia. In October 2011, Shell in partnership with Korea Gas Corp., Mitsubishi Corp. and China National Petroleum Corp. bought a Kitimat marine terminal. The value of the deal has not yet been disclosed.
BC LNG Gets 20-Year Licence To Export LNG to Asia
The National Energy Board (NEB) approved an application by BC LNG Export Co-operative LLC (BC LNG) for a licence to export liquefied natural gas (LNG) from Kitimat, British Columbia primarily to Asian markets. The export licence authorizes BC LNG to export 36 million tonnes of LNG, which is equivalent to approximately 47.9 billion m3 of natural gas, over a 20 year period. The maximum annual quantity allowed for export will be 1.8 million tonnes of LNG, which amounts to approximately 2.4 billion cu. metres of natural gas. The co-operative currently has 13 natural gas producers, marketers and LNG buyers, where members of the co-operative will submit bids to either provide natural gas to be liquefied or purchase LNG. A committee will review the bids and choose those that will yield the greatest margin to the co-operative.
ProSep Awarded Gas Treatment Contract Valued at C$3 Million
Montreal-based ProSep Inc., a process solutions provider to the oil and gas industry, announced that its majority owned South Korean joint venture company, ProSep Kolon Company Ltd., was awarded a contract for the supply of a utility treatment system valued at C$3.3 million. The customer is a South-Korean engineering firm selected to perform engineering, procurement and construction of a gas processing facility in Saudi Arabia. Delivery is expected to occur in January 2013. The scope of supply comprises a nitrogen generation system and a cryogenic liquid nitrogen storage and vaporization system.
Quebec Gov’t, Maharashtra State Sign Memorandum of Understanding on Healthcare Cooperation
Quebec Minister of Health and Social Services, Yves Bolduc, and Maharashtra State Health Minister, Suresh Shetty, have signed a Memorandum of Understanding (MOU) for Joint Cooperation in Health and Social Services in Telemedicine, Tele-trauma and Primary Care. This MOU represents an extension of a joint collaborative agreement signed in 2006. A joint venture was also announced between Quebec based Vigilant Telemedicines and the Health Management Research Institute of India (HMRI) to improve healthcare across the state, particularly in rural areas.
Castle Peak Enters Memorandum of Understanding with Beijing Donia Resources
Vancouver-based Castle Peak Mining Ltd. announced that it has entered into a memorandum of understanding with Beijing Donia Resources Co., Ltd. whereby Beijing Donia and its designated business partners intend to make a strategic investment in Castle Peak by acquiring securities to give Beijing Donia a 30.5% equity interest in Castle Peak for gross proceeds of approximately C$5.5 million. Under the proposed investment, Beijing Donia and its partners can purchase up to 22 million units on a private placement basis at $0.25 per unit. Castle Peak Mining Ltd. is a Canadian-based exploration and development company focused on greenfields and early stage gold projects. Beijing Donia Resources Co. specializes in overseas mineral resources exploration.
