Petronas says Canada LNG curb only for summer months
Petroliam Nasional Bhd (Petronas) said reports that it has been curtailing production from wells in Canada was in reference to intermittent market conditions over the summer months. In a statement yesterday, the national oil major said its subsidiary Petronas Energy Canada Ltd (Petronas Canada) had used the period as an opportunity to perform maintenance and inspection of its production facilities. “These maintenance and inspection activities are usually performed in the normal course of business by companies under similar circumstances,” it noted. On Dec 23, The Canadian Press quoted Petronas Canada chief executive officer Mark Fitzgerald as saying that Petronas, which has a 25% interest in the US$40 billion liquefied natural gas (LNG) Canada project, has been curtailing production by between 50 and 200 million cu ft per day from Canadian wells which are capable of producing 700 million cu ft per day. However, in yesterday’s statement, Petronas clarified that as seasonal demand for gas increases, Petronas Canada and its partners are currently producing at near full capacity at 620 million cu ft per day from its Canadian ventures in North Montney.