Petronas Seeking Gas Assets in Canada

Malaysian energy firm Petronas is mulling to acquire a Canadian gas asset acquisition as the stae owned company looks to enhance supplies to meet energy demand in the region, Bloomberg reported Monday.

"I want to grow big in Australia and Canada," company’s chief executive Officer Shamsul Azhar Abbas told Bloomberg in an interview.

Abbas said that there were quite a few candidates in Canada who were willing to talk and an announcement regarding the deal can be expected with the next three months.

Petronas has already increased focus on Canada’s shale gas sector. Last year the company bought a stake in a shale gas field in Canada from Progress Energy Resources Corp.