PetroChina and Encana have called off their plans to develop a shale gas deposit in western Canada,金融时报》reports. Talks between the two companies broke down due to different views on key components.

As per the original agreement, PetroChina would acquire a 50% stake in the project and fund half of future capital costs, while Encana would operate the fields. PetroChina had planned to invest about $5.4 billion in the deal.

Click here for the story from金融时报》.

Click here for the additional coverage fromBloomberg.