LNG

Aug 30 (LNGJ) - Progress Energy Resources Corp. said it expects its $5 billion takeover by Petronas of Malaysia to be completed by the end of September 2012. The acquisition of Calgary-based Progress will form the basis of a planned LNG export project run by the Malaysian energy company on Lelu Island near Prince Rupert, on the northern British Columbia coast. The first cargoes are expected from the Canadian plant in 2018.