Apache Closes Sale of Kitimat LNG Interest to Woodside
Posted on Apr 10, 2015 in Canada & Mexico, LNG Exports, Markets and Competition | Comments Off on Apache Closes Sale of Kitimat LNG Interest to Woodside
Today, Apache Corporation announced that it has completed the previously disclosed sale of its 50% interest in the Kitimat LNG project and related upstream acreage in the Horn River and Liard natural gas basins in British Columbia, Canada, to Woodside Petroleum Limited. Total proceeds from the $854 million sale include $354 million in adjustments for reimbursement of net expenditures on the project, changes in working capital and other contractual adjustments for the period between the effective date, July 1, 2014, and closing. Chevron Canada holds the other 50% interest in the Kitimat LNG project.