PetroChina International Investment Co. Ltd. has agreed to pay $5.4-billion in a natural gas investment with Encana Corp. that promises to be the largest Chinese investment in Canadian energy assets.
The deal underscores the voracious appetite Asian firms have for North America’s vast deposits of oil and gas – and speaks to the growing attraction of Canadian energy assets to overseas companies, which are increasingly looking at ways to buy western reserves that can some day be delivered to consumers in China and South Korea.
