Petronas says it’s delaying its proposed liquefied natural gas terminal near Prince Rupert, B.C.
The Malaysian energy giant says although it has resolved its concerns with the B.C. government, the conditions aren’t right to proceed.
The email you need for the day's
top news stories from Canada and around the world.
Petronas says the economics of the project don’t work as costs remain high and oil prices have dropped below US$70 a barrel.
The total investment of $36 billion covers the LNG plant, shale fields in northeastern B.C. and a pipeline to connect the two.
Despite the delay, both the company and the B.C. government struck a positive tone, expressing optimism the project will eventually proceed.
Premier Christy Clark says the province’s plans to build an LNG industry are still on schedule.
More on BC
- Joffre Lakes to close for 3 periods this year under agreement with First Nations
- ‘Why aren’t we doing more?’ White Rock on edge with killer on the loose
- B.C. carjacking victim says she doesn’t trust the ‘catch-and-release’ system
- Inquest into fatal Surrey hostage-taking recommends cameras for ERT teams
Comments