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UPDATE: Encana to Sell Interest in Proposed Kitimat Liquefied Natural Gas Export Terminal; Stocks Slip 1%

Encana Corporation (ECA.TO) has agreed to sell its 30 percent interest in the proposed Kitimat liquefied natural gas ( LNG ) export terminal project to Chevron Canada Limited, subject to regulatory approvals and post-closing adjustments.

Included in the sale are Encana's 30% interest in the associated Pacific Trail Pipelines as well as approximately 32,500 acres of undeveloped land in the Horn River Basin of northeastern British Columbia and the assumption of Encana's take-or-pay processing commitments for the first phase of the Cabin Gas Plant.

ECA has slipped 1% to $19.87, moving towards year low $17.25.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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