Petroleum company, PETRONAS has denied news reports claiming that the organization is leaving Canada.
According to a source, PETRONAS is reportedly considering various options including the sale of its Canadian company Progress Energy Resources Corp yesterday.
Furthermore, PETRONAS said that any reports claiming that the organization is leaving Canada are untrue.
PETRONAS is committed to investing in Canada through the North Montney Joint Venture project and is a major partner in LNG Canada's liquefaction facility in Kitimat, BC.
Furthermore, PETRONAS acquired Progress Energy in 2012 for about $5.3 billion to strengthen its gas supply sources and expand its shale gas portfolio.
The organization also said that LNG Canada is preparing for its first cargo this year and is proud to supply low-carbon liquefied natural gas to support the global energy market.
PETRONAS currently holds a 25 percent stake in the LNG Canada project along with Mitsubishi Corp, Shell Plc, Korea Gas Corp and PetroChina Co Ltd.
