January 20, 2011 / 8:39 PM / 9 years ago

FACTBOX-List of Asian investments in Canada's oil sands

(In U.S. dollars unless noted)

Jan 20 (Reuters) - China’s Sinopec Corp (600028.SS) is among a group of investors providing early-stage funding for Enbridge Inc’s (ENB.TO) planned C$5.5 billion ($5.5 billion) Northern Gateway oil sands pipeline project in Western Canada.

Enbridge CEO Pat Daniel said on Thursday that Sinopec, China’s second-largest oil producer and top refiner, is among a consortium of producers and refiners providing about C$100 million to fund the line’s regulatory and development costs.

In exchange, consortium members get guaranteed space on the line and the right to take an equity stake.

The planned pipeline would carry 525,000 barrels of oil sands crude from Alberta to a tanker port at Kitimat, British Columbia, on the Pacific Ocean. [ID:nN20132746]

Here is a list of other Asian oil sands investments:

* Nov. 24 - Osum Oil Sands Corp, a small privately owned oil sands development company, sells C$100 million worth of its shares to Korea Investment Corp, marking the sovereign wealth fund’s second investment in Canada’s oil sands.

* Nov. 23 - Thailand’s PTT Exploration and Production PTTE.BK agrees to pay $2.3 billion for a 40 percent stake in Statoil ASA’s STL.OL STO.N oil sands project, marking Thailand’s first foray into the Canadian oil sands industry.

* August 2010 - Korea Investment Corp pays C$50 million for a minor stake in Laracina Energy Ltd, a small, privately held oil sands development company.

* May 2010 - Penn West Energy Trust PWT_u.TO sells a 45 percent stake in oil sands properties near Peace River, Alberta, to China Investment Corp for $801 million.

* April 2010 - Sinopec agrees to buy ConocoPhillips’ (COP.N) 9.03 percent stake in Syncrude Canada Ltd, the largest oil sands project, for $4.65 billion.

* August 2009 - PetroChina (601857.SS) agrees to buy a 60 percent stake in two undeveloped oil sands properties held by Athabasca Oil Sands Corp (ATH.TO) that could eventually produce as much as 500,000 barrels per day.

The Canadian government offers no opposition to the investment by state-controlled PetroChina and formally approves the acquisition in December.

* April 2009 - Sinopec acquires an additional 10 percent stake in Total SA’s (TOTF.PA) undeveloped Northern Lights oil sands project for a price that has not yet been disclosed. The purchase brings Sinopec’s stake in Northern Lights to 50 percent, after buying a 40 percent interest in the project in May 2005 for C$105 million. Construction of Northern Lights, once expected to cost C$10.7 billion, is on hold as the partners weigh new development options.

* November 2007 - Japan’s Inpex Corp (1605.T) takes a 10 percent stake in Total’s Joslyn oil sands project for an undisclosed price.

* July 2006 - Korea National Oil Corp [KOILC.UL] pays $270 million for Newmont Mining Corp’s (NEM.N) BlackGold oil sands property.

* April 2005 - CNOOC Ltd (0883.HK) pays C$122 million for 16.7 percent in privately held MEG Energy Ltd, which is developing an oil sands project in northern Alberta that could eventually pump up to 210,000 bpd, while other properties in MEG’s portfolio could eventually produce 500,000 bpd, according to company documents.

* April 2005 - Enbridge signs an agreement with PetroChina to ship oil on the planned Northern Gateway pipeline, which would take oil sands crude to a deepwater port on Canada’s Pacific Coast.

Enbridge has filed for regulatory approvals but PetroChina has withdrawn from the project, citing frustration with the slow process.

* 1992 - Mitsubishi Oil Company of Alberta (Mocal), now a unit of JX Holdings Inc (5020.T) takes a 5 percent stake in the Syncrude Canada project.

* 1978 -Japan Canada Oil Sands Ltd, a unit of Japan Petroleum Exploration (1662.T) acquires stakes in oil sands properties. In 1983 the company launches a pilot thermal development, using steam to liquefy bitumen deposits, at its Hangingstone property in northern Alberta.

In 2008 it announces plans to expand Hangingstone’s output from 8,000 bpd with a new 35,000 bpd project. Nexen Inc NXY.TO has a 25 percent stake in the property.

$1=$1.00 Canadian Reporting by Scott Haggett and Jeffrey Jones; editing by Rob Wilson

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