- Malaysia’s state-owned energy giant, Petronas, plans to build both a liquefied natural gas plant and fund the building by a Canadian company of a pipeline from the plant. The investment is worth $36 billion.
- Will be in addition to the nearly $6 billion Cdn that Petronas paid last year to purchase Calgary-based Progress Energy Inc
It has been known for some time that Petronas would be spending big dollars in Canada, but previous estimates of the size of Petronas’ investment had usually come in at no higher than $19 billion Cdn.
This should provide a boost to CAD today
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