New LNG plant for EnCana

Article Excerpt

ENCANA CORP $34.31 (Toronto symbol ECA; Shares outstanding: 750.3 million; Market cap: $25.7 billion; SI Rating: Average; Dividend yield: 2.3%) should benefit from a new liquefied natural gas (LNG) terminal in Kitimat, B.C. This plant will convert natural gas from northeastern B.C.’s Horn River area into LNG. From there, ships will take the LNG to markets in Asia. EnCana has a 50/50 joint venture with Apache Corp. to develop a natural-gas discovery in Horn River. This week, Apache bought a 51% stake in the Kitimat terminal. Construction will begin by 2011, and the plant should start up in 2014. EnCana is a buy. buy…