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The Globe and Mail: Petronas LNG stuck in limbo

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The Globe notes the Canadian Environmental Assessment Agency is studying the proposed $11 billion project, and says there’s specific interest in the potential impact on Skeena River salmon stocks – the second largest in B.C. to those in the Fraser River.

It also reports the agency put the one year federal review process on hold until on May 9th, citing the need for more information from the project consortium.

The article adds a revised plan was finally filed two weeks ago, but cites industry sources as saying the original review timeline has been delayed by at least five months, putting the project in limbo.

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The story suggests that even if the assessment resumes this week, it’s not likely to be concluded until May of next year.

That presumably brings back into play the recent Petronas warning that the project could be in jeopardy if the company doesn’t have the regulatory investment decision answers it wants by the end of this year.

Petronas has suggested, due to aggressive global competition, the window of development is closing, and a project suspension of up to 15 years is not out of the question.

However, the Globe says the consortium is down playing the federal review delay, and it’s emphasizing the project remains on track to receive a provincial environmental assessment certificate by the end of December.

Read the entire Globe and Mail article here.

With files from The Globe and Mail

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