Petronas Nears Deal to Invest in $31 Billion Canada Project

Malaysia’s Petroliam Nasional Bhd. agreed to take a 25 percent stake in a proposed liquefied natural gas project in Canada led by Royal Dutch Shell Plc, marking one of the strongest signals yet that the long-awaited facility will actually be built. The Canadian unit of Shell will hold a 40 percent stake, while subsidiaries of PetroChina Co. and Mitsubishi Corp. will have a 15 percent share each, according to a statement Thursday from Petronas. A unit of Korea Gas Corp. will hold 5 percent.