PetroChina Eyes Encana's Gas Assets

(Beijing) -- PetroChina, China's largest oil and gas producer, plans to jointly develop natural gas in Canada with the country's largest gas supplier, Encana Corp., as part of plans to further expand into the North American market.

PetroChina said in a February 10 statement that it has been in talks with Encana for nine months over a C$ 5.4 billion investment through its subsidiary, PetroChina International Investment Co., for a 50 percent stake in Encana's Cutbank Ridge natural gas fields in British Columbia and Alberta.