The Shell-led joint venture that plans to build a LNG export facility along British Columbia’s west coast in Canada has announced that it is delaying the final investment decision on the project due to global industry challenges.
In a statement Shell said that due to global industry challenges, including capital constraints, the LNG Canada Joint Venture participants have determined they need more time prior to taking.
LNG Canada has achieved regulatory approvals, necessary environmental approvals and First Nations support along the pipeline right-of-way.
“Our project has benefitted from the overwhelming support of the BC Government, First Nations – in particular the Haisla, and the Kitimat community. We could not have advanced the project thus far without it. I can’t say enough about how valuable this support has been and how important it will be as we look at a range of options to move the project forward towards a positive FID by the Joint Venture participants,” said Andy Calitz, CEO LNG Canada.
In the coming weeks, LNG Canada will continue key site preparation activities and work with its joint venture participants, partners, stakeholders and First Nations to define a revised path forward to FID.
LNG Canada Joint Venture Participants are Shell (50 per cent), PetroChina (20 per cent), Mitsubishi Corporation (15 per cent) and Kogas (15 per cent).