The Malaysian energy giant is working with a financial advisor to seek out potential buyers, Bloomberg reported, citing anonymous sources. The company owns a 25 per cent stake in the LNG Canada project in B.C. (Bloomberg)
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The Malaysian energy giant is working with a financial advisor to seek out potential buyers, Bloomberg reported, citing anonymous sources. The company owns a 25 per cent stake in the LNG Canada project in B.C. (Bloomberg)
Talking point: Petronas has posted shrinking profits as it grapples with low commodity prices. Its assets in Canada would be highly sought after. The company entered Canada in 2012 with its US$5.3-billion acquisition of Progress Energy, and has built up a major position in the Montney formation in northern Alberta and B.C., which is the primary supply for liquified natural gas export projects on the West Coast. Set to come online later this year, LNG Canada is one of the few options for shipping gas from Canada to Asia, where buyers pay a much higher price than those in the U.S. https://www.bloomberg.com/news/articles/2025-06-03/petronas-is-said-to-explore-sale-of-7-billion-canadian-business
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