Environmental Assessment for Petronas Project Due Next Monday
CBC News reports that the Canadian Environmental Assessment Agency’s final environmental report on Petronas’s proposed Pacific NorthWest LNG (PNWLNG) export terminal near Prince Rupert, British Columbia is due to be released October 3. According to its website, PNWLNG announced a positive Final Investment Decision in June 2015, subject to two conditions, the first of which was satisfied on July 21, 2015 after the Project Development Agreement legislation was passed by the Legislative Assembly of British Columbia, and the second of which “is a positive regulatory decision on the project’s environmental assessment by the Government of Canada, after which the partners of the project will confirm the Final Investment Decision.” Petronas is the Malaysian state oil company and majority equity holder of the PNWLNG project. Sinopec, JAPEX, Indian Oil Corporation and PetroleumBRUNEI are minority equity holders in the PNWLNG project.