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.
- 20.2% property tax increase required if Calgary funds all 2027 budget requests
- Work at McIlvenna Bay mine ‘monumental’ for Saskatchewan, federal energy minister says
- Sean Fraser applauds exclusion of U.S. suppliers as he announces N.S. tariff relief
- B.C. government confirms gas revenue forecast errors worth $1.46B
-
![]()
Surrey Councillor and Mayor warn of escalating cost of wastewater treatment plant -
![]()
Shipment of grain leaving Port of Churchill -
![]()
Albertans don’t want to swap ‘overbearing Ottawa for an overbearing Washington’: Smith on referendum -
![]()
Danielle Smith pushes for accelerated West Coast pipeline as Trump flaunts Venezuela oil deal
Shell owns a 50 per cent stake in the LNG Canada project and could have started construction by 2021 or 2022.
Get breaking National news
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
Comments
Want to discuss? Please read our Commenting Policy first.