LNG Canada Postpones Export Terminal Decision
- Business & Finance
The joint venture participants of LNG Canada, led by Shell Canada Energy, have decided to delay a final investment decision on building a British Columbia liquefied natural gas (LNG) export terminal that was planned for the end of 2016.
LNG Canada, whose participants also include affiliates of PetroChina, Korea Gas Corporation and Mitsubishi Corporation, cited global industry challenges, including capital constraints, for requiring more time prior to taking a final investment decision.
“At this time, we cannot confirm when this decision will be made,” LNG Canada participants said.
In the coming weeks, LNG Canada will continue key site preparation activities and work with its joint venture participants, partners, stakeholders and First Nations to define a revised path forward to FID, the parties added.
The project has earlier achieved critical regulatory approvals and obtained commercial and engineering contracts to design and build the terminal. LNG Canada has, through its pipeline partner Coastal Gas Link, received necessary environmental approvals and First Nations support along the pipeline right-of-way.