Kitimat, EOG Resources Canada Sign MOU

Tuesday, July 14, 2009

Kitimat LNG Inc. announced that it has signed a memorandum of understanding (MOU) with EOG Resources Canada (EOG) to supply natural gas to Kitimat LNG’s proposed liquefied natural gas (LNG) export terminal in Kitimat, B.C. 
 
Pursuant to the MOU, Kitimat LNG and EOG are proceeding to negotiate a definitive agreement under which EOG would supply specific quantities of the LNG facility’s 700 million cubic feet per day of natural gas feedstock. 
 
“EOG’s participation in our project reinforces the fact that business and natural gas fundamentals support our LNG terminal,” said Rosemary Boulton, President of Kitimat LNG. “Kitimat LNG presents a compelling opportunity for producers to leverage growing natural gas reserves in Western Canada and sell into significant new international markets such as Asia.”
 
EOG is the first producer to sign an MOU with Kitimat LNG. Kitimat LNG has also signed MOUs with leading LNG companies such as Korea Gas Corporation (KOGAS) and GAS NATURAL for the purchase of LNG produced at the terminal.
 
Kitimat LNG is in discussions with potential terminal users, LNG buyers and other natural gas producers for the five million tonnes per annum project.
 
(www.kitimatlng.com)
(www.eogresources.com)

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