May 2, 2012 / 5:23 PM / 5 years ago

Imperial Oil eyeing Canadian LNG plant

CALGARY, Alberta, May 2 (Reuters) - Imperial Oil Ltd is considering joining a growing number of companies planning liquefied natural gas plants on Canada’s West Coast as a way to boost returns on vast reserves of natural gas in British Columbia and Alberta, its chief executive said on Wednesday.

Imperial CEO Bruce March told reporters after the company’s annual meeting that planning for such a development is still in the “very early days.”

He said that gas reserves in Canada’s far north may be suitable for LNG development with economics for the long-delayed Mackenzie Valley gas pipeline to southern markets in question.

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