Taqa shares slide after $884m Canadian gas writedown | The National

Taqa shares slide after $884m Canadian gas writedown | The National:



"Taqa shares tumbled 10 per cent after the energy investor disclosed a US$884 million writedown on its Canadian gas assets.



The company known also known as Abu Dhabi National Energy downgraded the value of the North American holdings by 13.8 per cent to take into account a drop in gas prices since cheap shale volumes appeared in North America. It will not pay investors a dividend for 2013 because of the loss.



Shares fell to a six-month low of Dh1.26 on the Abu Dhabi bourse after the announcement."



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