Metalnewsnet 30 Jun ：

It is reported that Encana Corp Canada largest natural gas producer and state owned China National Petroleum Corp signed a letter of intent on Thursday to jointly develop shale gas properties in Canada northern British Columbia.

The companies didn't disclose financial or other details of the planned cooperation. But forming a joint venture will be of the highest possibilities for their collaboration, which may help Encana dream of hitting earnings of USD 1 to 2 billion from its JVs come true.

Under the proposed terms of the agreement, Encana will operate the properties while CNPC will provide capital. The JV is to be established in a few months’ time.

(from Global Times)