October 1, 2016 / 4:51 AM / in a year

Petronas denies report it is considering sale of Canadian LNG project stake

A logo of a Petronas fuel station is seen against a darkening sky in Kuala Lumpur, Malaysia February 10, 2016.Olivia Harris/File photo

KUALA LUMPUR (Reuters) - Malaysian state oil firm Petroliam Nasional Bhd, or Petronas, said it "categorically denied" a Reuters report that it was considering selling its majority stake in a $27 billion Canadian liquefied natural gas (LNG) project.

Petronas is weighing several options for the project that was approved earlier this week by Canada, but had yet to take a final decision, Reuters reported on Friday citing three people familiar with the matter. Other options are also being considered, including putting the project on ice.

"Petronas reiterates that, together with the project partners, it will study the conditions that come with the approval and conduct a total review of the project prior to making a decision on the next steps forward," the company said in a statement on Saturday.

Reporting by A. Ananthalakshmi; Editing by Christian Schmollinger

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