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Market Chatter: PetroChina Reportedly Explores Trimming LNG Canada Stake to Fund Expansion

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PetroChina (HKG:0857, SHA:601857) is exploring a sale of part of its 15% stake in LNG Canada Development to help fund the project's planned expansion, Bloomberg News reported Tuesday, citing people familiar with the matter.

The Chinese energy company is reportedly working with an adviser to gauge interest in the stake, which could be worth a few billion dollars. PetroChina may sell down its holding through a series of smaller transactions, though deliberations are in the early stages and no final decision has been made, the report noted.

PetroChina and LNG Canada did not immediately respond to' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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