CALGARY, Alberta Dec 4 Progress Energy Resources Corp's chief executive said on Tuesday that he hopes for a decision from Ottawa on the C$5.2 billion ($5.2 billion) takeover of his company by Malaysia's Petronas this year.
Progress CEO Michael Culbert also said in an interview that a completed deal would increase the ability of the partners' planned LNG export plant on Canada's West Coast to expand because all of Progress's gas-producing lands could be directed to the initiative.
Progress and Petronas currently have a joint venture in the Montney region of British Columbia, and gas from that acreage is earmarked for the proposed plant, which would cost up to C$11 billion.
Trending On Reuters
The United States and India have held talks about conducting joint naval patrols that a U.S. defence official said could include the disputed South China Sea, a move that would likely anger Beijing, which claims most of the waterway. Story