Apache To Buy 51% Stake In Canadian Gas Terminal

Law360, New York (January 14, 2010, 4:05 PM EST) -- The Canadian subsidiary of oil and gas producer Apache Corp. has agreed to acquire a 51 percent stake in Kitimat LNG Inc.’s planned liquefied natural gas export terminal in British Columbia.

Houston, Texas-based Apache said Wednesday that the deal will grant it a 51 percent capacity in the terminal and a 25.5 percent stake in the Pacific Trails Pipeline, a proposed $1.1 billion pipeline aimed at serving western Canada’s natural gas-producing regions.

The proposed Kitimat project, located at Bish Cove near the Port of Kitimat, about...
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