News Summary: Petronas to export LNG to Asia

News Summary: Malaysia's Petronas plans LNG export facility in western Canada

Associated Press

GAS PLAN: Malaysian national oil company Petronas announced a multibillion dollar plan to extract, liquefy and export natural gas in western Canada to Asia.

LIQUID ASSETS: between $9 billion and $11 billion would be invested to construct two LNG liquefaction plants. Target date for the project's completion is late 2018.

PIPE UP: Another $5 billion will be invested in a pipeline 466 miles long, to be built and operated by TransCanada Corp., to supply gas to the plants.

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