Petronas to sell 10% stake in Canadian LNG project

KUALA LUMPUR, Malaysia (Bloomberg) -- Petroliam Nasional Bhd., Malaysia’s state oil company, will sign an agreement to sell 10 percent of its liquefied natural gas project in Canada to an Indian company on March 7, its CEO said. Petronas, as the company is known, may also sell 15 percent stake in the Pacific NorthWest LNG project to an Asian buyer by the end of this month, CEO Shamsul Azhar Abbas told reporters in Kuala Lumpur today, after the company reported a 58 percent increase in fourth-quarter profit. It is allocating an additional two percent to Brunei National Petroleum Co., which already owns three percent.