British Columbia, Petronas strike deal on natural gas project

The B.C. government and Malaysia’s state-owned Petronas have reached a deal designed to provide lift-off to a liquefied natural gas project. B.C. Premier Christy Clark and Petronas chief executive officer Shamsul Azhar Abbas signed the letter of intent Monday as a B.C. delegation led by Ms. Clark launched an Asian trade mission with the first stop in Malaysia. Petronas has asked the province to hammer out details of a tax to be levied against proposed B.C. LNG export terminals while the government has requested that the Malaysian firm ramp up efforts in the race to export B.C. LNG.