Shell to take larger stake in Canada LNG partnership

CALGARY, Alberta, April 30 Wed Apr 30, 2014 12:49pm EDT

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CALGARY, Alberta, April 30 (Reuters) - Royal Dutch Shell Plc and three Asian partners in the proposed Canada LNG project on Wednesday formalized their agreement for the proposed liquefied natural gas facility on British Columbia's Pacific Coast, with Shell raising its interest in the partnership.

Under the agreement, Shell will increase its stake in the project to 50 percent from 40 percent while PetroChina retains its 20 percent interest in the project. Mitsubishi Corp and Kogas will each take a 15 percent interest, down from their former 20 percent share.

The partners are expected to make a final decision on whether to go ahead with the project in 18 to 24 months, a spokesman said. (Reporting by Julie Gordon; Writing by Scott Haggett)

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