Few investors have heard of Kitimat, Canada. But this town of just over 8,000 people looks to be at the epicentre of a multi-billion dollar boom.
The reason is LNG. A topic that’s becoming big news in western Canada.
Especially after last week. When the government of Malaysia announced it plans to spend $35 billion constructing a gas liquefaction terminal and associated infrastructure on the Canadian coast near Kitimat.
Malaysian state firm Petronas will almost certainly feed the LNG development with gas from the British Columbia properties it acquired by buying Progress Energy Resources last year. A theme now becoming common–shale gas in BC looks to be for real. And a number of companies are eying this high-potential area as feedstock for Pacific LNG shipments.