“Petronas needs to secure consensus on key principles vital to the success of this project by the end of October,” the company said in a statement. “Missing this date will have the impact of having to defer our investments until the next LNG marketing window, anticipated in 10-15 years.”
Within that written statement, Petronas points to marginal economic benefits projected for the plant coupled with concerns that when a tax arrangement is drafted, it won’t be favourable to the company.
Premier Christy Clark went on record last week to say she’s “very confident” the province will reach a deal with Petronas, as they continue to negotiate details with the short-listed companies and expects a final draft to be released later in the month.
Petronas says a major concern for them is high construction cost within northern B.C. and wants to make a final decision on the project by mid-December.
With files from Reuters