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Home Energy News Reuters: Another threat to pull out of B.C.’s LNG future by Petronas...

Reuters: Another threat to pull out of B.C.’s LNG future by Petronas


“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.

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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.

Read the entire Reuters article here.

With files from Reuters

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