Kitimat LNG might not be built for ten years

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KITIMAT, B.C. – Chevron might not be making a final investment decision on the Kitimat LNG project for a decade.

CFTK-TV is reporting that Kitimat LNG representatives made a presentation at a Kitimat council meeting on Monday, where they said that still need to meet their five conditions before Final Investment Decision date is announced.

Commercial Manager Fred Eastwood told council that the company still feels that Kitimat is the right place to invest.

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“When the market does recover, the current supply overhang is basically eaten into.” says Eastwood. “We believe BC LNG has an opportunity to fulfill that demand gap. The mid 2020’s is the time frame we are looking at.”

Eastwood explained that construction could begin by the year 2020, and the project would require between four and five years to be built.

Mayor Phil Germuth said that he’s looking forward to a FID date.

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Story courtesy CFTK-TV: http://www.cftktv.com/News/story.aspx?ID=2201850

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