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Apache Corp., under investor pressure, exiting Kitimat LNG project

Warrior Publications

Banner at solidarity rally with Unis'tot'en camp, Vancouver 2012. Banner at solidarity rally with Unis’tot’en camp, Vancouver 2012.

By Lauren Krugel, The Canadian Press,  July 31, 2014

CALGARY – A liquefied natural gas project planned for Kitimat, B.C., faces an uncertain future after one of its U.S. partners announced plans to get out of the LNG business.

Apache Corp. said in its second-quarter news release that it plans to ditch the Kitimat LNG project, which it was developing alongside Chevron Corp., as well as the Wheatstone LNG project in Australia.

The Houston-based company has been under pressure from activist hedge fund Jana Partners LLC to restructure.

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This entry was posted on August 4, 2014 by .
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