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Issue 15/2017 - Petronas cancels Canadian LNG project

 Last Update: 2022-11-11
 Source: Internet
 Author: User

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Petronas cancels Canada's LNG project
due to the shift in the global energy market in recent years, and LNG prices remain depressed
.
On July 25, local time, Canada's Pacific Northwest LNG project announced that Petronas and its partners have decided to terminate the project
.
The project, operated by Canada's Progress Energy, acquired by Petronas in 2012, is located in Prince Rupert's Harbour on the west coast of British Columbia (BC), Canada, from the North Monteney gas field
.
In previous investment plans, the project was planned to cost C$36 billion ($29 billion).

In the first phase, two LNG production lines
totaling 12 million tons will be built by the end of 2018.

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