Petronas is reportedly trying to divest in a huge LNG project

Malaysian state oil firm Petroliam Nasional Bhd is considering selling its majority stake in a $27 billion Canadian liquefied natural gas (LNG) plant, three people familiar with the matter said this week, according to Reuters.
Petronas is weighing options for the project as its finances have been squeezed after crude oil prices have collapsed by more than 50 percent since the middle of 2014. Additionally, the economics of the project have been called into question as LNG prices for delivery into the main markets in northeast Asia have slumped more than 70 percent over nearly the same time period.
Petronas was given the go-ahead for the project by the Canadian government earlier this week. It said then that executives would study the then that executives would study the conditions imposed by the Canadian authorities and conduct a review before deciding on the next steps.