Market Chatter: Shell, LNG Canada Development Close to Financial Commitment to Expanding Natural Gas Production

MT Newswires Live

Sep 24

Shell (SHEL) and LNG Canada Development are close to making the financial commitment to double a Canadian natural gas project's capacity as soon as next week, Bloomberg reported Wednesday, citing unnamed people familiar with the matter.

LNG Canada Development's backers are set to announce a final investment decision to increase maximum output to 28 million metric tons a year, the report said.

The expansion will require billions of dollars in investment, the report said.

Shell, LNG Canada, and other backers of the project, including Petroliam Nasional, PetroChina, Mitsubishi, and Korea Gas, did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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