LNG Canada Delays FID for Proposed Kitimat B.C. Export Terminal
Posted on Jul 12, 2016 in Canada & Mexico, Liquefaction, LNG Exports, Markets and Competition | Comments Off on LNG Canada Delays FID for Proposed Kitimat B.C. Export Terminal
CBC News reports that LNG Canada has indefinitely delayed making a final investment decision (FID) on its proposed liquefaction and LNG export terminal near Kitimat, British Columbia (B.C.) due to global energy market conditions. According to the report, LNG Canada CEO Andy Calitz recently told a conference that “the drop in natural gas prices around the world, particularly in Asia, has made the project too expensive for now.” The company had announced that it would make an FID at the end of 2016. LNG Canada is a joint venture of Shell Canada Energy (50%), an affiliate of Royal Dutch Shell plc, and affiliates of PetroChina (20%), Korea Gas Corporation (15%) and Mitsubishi Corporation (15%).