A company based in India is mulling a $3 billion liquefied natural gas (LNG) liquefaction and export terminal in the Strait of Canso in Nova Scotia, Canada’s CBC News reported. “We’re looking at a long term…facility to liquefy natural gas. We’re looking to put out a capacity of a billion and a half cubic feet a day at its final stage, said Darshan Hiranandani, managing director for H-Energy, as reported by CBC. He said the facility could be similar in scale to the Canaport LNG facility in New Brunswick. Construction could be completed by 2020 at the earliest, he said. The proposal is the second for an LNG facility in Nova Scotia. Last fall, Pieridae Energy Canada announced a project whose target markets would be in Europe and India (see Daily GPI, Oct. 29, 2012).

Apache Corp. shareholders at the company’s annual meeting voted down a proposal to increase compensation for executives. The nonbinding vote received 49.82% support, a sharp turnaround from the 2012 meeting at which shareholders approved a pay hike by more than 90%. CEO G. Steven Farris acknowledged that performance had not matched expectations, telling shareholders, “we have not done what we said we were going to do.” Another “area of concern” are holdings in strife-torn Egypt. Apache this year plans to sell $4 billion worth of assets to reduce debt and buy back shares (see Daily GPI, May 10).

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