SAN RAMON (dpa-AFX) - EOG Resources Inc. (EOG), through its Canadian subsidiary, EOG Resources Canada Inc. announced the signing of a purchase and sale agreement for its interest in the Kitimat LNG facility to Chevron Canada Limited, a subsidiary of Chevron Corp.(CVX).
The transaction, subject to approval by Canadian regulatory authorities, is expected to close by the end of the first quarter 2013.
The agreement includes EOG Canada's 30 percent interest in the planned natural gas liquefaction and export facility on British Columbia's west coast and associated Pacific Trail Pipelines project, as well as approximately 28,500 undeveloped net acres in the Horn River Basin.
Further details with respect to the terms of the sale are not being disclosed by the parties.
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