The US energy funds return in Canada's Natural Gas & MontneyShell's recent positive decision about the LNG Canada project is one of the key reasons for their return:
https://business.financialpost.com/commodities/flying-in-the-face-of-negative-sentiment-u-s-private-equity-giant-forms-natural-gas-company-in-canada
Flying in face of negative sentiment, U.S. private equity giant forms natural gas company in Canada
Will invest in new natural gas processing facilities in northwestern Alberta to process the liquids-rich natural gas in the region
CALGARY – Eyeing an opportunity in Canada’s troubled natural gas sector, U.S. private equity giant KKR & Co. Inc. and a partner have created a $1.15 billion Calgary-based company focused on natural gas processing assets in Alberta. SemCAMS will own natural gas gathering pipelines and a combination of existing and under-construction gas processing facilities capable of handling 2.1 billion cubic feet of natural gas per day from the prolific Montney and Duvernay formations.
“We have been an active investor in the Canadian energy space for the last decade and are big believers in the Montney as a growing low-cost natural gas play that is relevant on a global scale,” KKR head of North American infrastructure Brandon Freiman said in a release.
Freiman added the new company and the acquisition of the Meritage assets “creates a leading platform in the core of the Alberta Montney that is well positioned to serve its growing infrastructure needs.”