(Corrects headline and first and second paragraphs to say the
stake will be sold to two companies, not one)
SINGAPORE Feb 25 Petronas has agreed
to sell a 25 pct stake in Canada's Progress Energy Resources
Corp to an Indian company and an Asian gas buyer, the Malaysian
state oil firm's president and chief executive Shamsul Azhar
Abbas said on Tuesday.
He did not name the Indian company or the Asian liquefied
natural gas (LNG) buyer, and wouldn't disclose the price at
which Petronas will sell the stake.
Shamsul has previously said the company was close to selling
a stake in its Canadian shale gas assets to an Indian company.
Petronas is looking to share some of the costs of bringing cheap
liquefied natural gas from North America to energy-hungry Asia.
Petronas, which has been expanding abroad to shore up future
earnings as output slows at home, bought Canada's Progress
Energy Resources in 2012 in a deal worth around $5 billion that
gave it shale gas properties in northeastern British Columbia.
(Reporting By Jacob Gronholt-Pedersen; Editing by Paul Tait)