Apache and Chevron Close Deal to Develop Kitimat LNG Project

Apache Corporation announced yesterday that its subsidiary, Apache Canada Ltd., has completed a transaction with Chevron Corporation subsidiary Chevron Canada Limited to build and operate the Kitimat LNG project and develop gas resources at the Liard and Horn River basins in British Columbia, Canada. Chevron Canada and Apache Canada will each have a 50% ownership share of the Kitimat LNG plant, the Pacific Trail Pipelines and 644,000 gross undeveloped acres in the Horn River and Liard basins. Chevron Canada will become operator of the LNG plant and the pipeline.

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