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Canadian Natural-Gas Producer Lands Major Capital Investment From China

Publication Date: 2/16/2011
Author: David Kosub
Format: HTML

China, which has surpassed Japan as the world’s second-largest economy, signaled its intent to invest in North America as Calgary-based natural-gas producer Encana Corp. on Feb. 13 announced the largest Chinese investment in Canada to date. Under terms of a $5.4-billion cooperation agreement, PetroChina, an arm of China’s state-owned National Petroleum Co., will acquire a 50% share in Encana’s Cutbank Ridge gas production facilities, representing 255 million cubic feet per day of proved reserves of approximately one trillion cu ft on 250,000 hectares straddling the Alberta-British Columbia border.

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