Two of the five partners in LNG Canada have approved funding their share of project, Bloomberg reports.
Both PetroChina Co. and Korea Gas Corp. have made announcements, the news agency reported Friday.
PetroChina's approval for its 15 per cent share, $3.46 billion, was announced in a filing to the Hong Kong stock exchange; Kogas made an announcement for its five per cent share in Seoul, Bloomberg reports.
Royal Dutch Shell Plc is the lead partner in LNG Canada, with a 40 per cent stake. The company declined to comment, Bloomberg reports.
Mitsubishi holds another 15 per cent stake and has yet to make a decision, a spokesperson said. Officials at Petronas, which bought in for 25 per cent, could not be reached for comment.
Bloomberg reported earlier this week that plans were set for an Oct. 5 announcement, followed by a special event and fireworks ceremony scheduled the next day in Kitimat, the site of the proposed facility.
Prime Minister Justin Trudeau met with Royal Dutch CEO Ben van Buerden in New York on Tuesday, Sept. 25.
LNG Canada has an estimated price tag of $40 billion, considered the largest in B.C. and Canadian history. That includes TransCanada's $4.8-billion Coastal GasLink pipeline, which will take natural gas from Northeast B.C. to the facility in Kitimat, where it would be liquefied and exported to Asia.
The project has a 40-year export licence and a production capacity of 26 million tonnes of LNG a year.
