LNG

July 10 (LNGJ) - Apache Corp., the US company that once led the Kitimat LNG export project in British Columbia with Chevron Corp., is selling its Canadian assets in three transactions with a total value of US$713 million. Combined second-quarter production from the Apache assets averaged 300 million cubic feet per day of gas equivalent, two thirds of which was natural gas. Houston-based Apache has joined an oil industry exodus from Canada and its oil sands and shale resources with other US and European majors such as ConocoPhillips, Royal Dutch Shell, Statoil and Marathon Oil. The withdrawals from the oil sands and other sectors come amid rising criticism from the energy industry of Canadian federal and provincial environmental policies that are much stricter than those of the US and make some projects uneconomic.