Shell has announced it is postponing a final decision on the Shell-led LNG Canada export project in Kitimat due to slumping profits.
Shell reported on Thursday a 44 per cent drop in profit in the final three months of last year, forcing a reevaluation of spending decisions.
The project received environmental approval from the federal and provincial governments last June, although the approval came with a number of conditions.
Shell owns a 50 per cent stake in the LNG Canada project and could have started construction by 2021 or 2022.
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LNG Canada expected 7,500 workers would be employed during peak construction at the Kitimat site and an estimated $8 billion would be spent on goods and services within Canada, including $3 billion in B.C.
The other shares are held by Japanese trading company Mitsubishi, South Korean incumbent KOGAS and China state-run Petrochina.
-With files from The Canadian Press
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