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Shell to take FID on LNG Canada project in late 2016

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LNG Industry,

According to Reuters, Shell has pushed back making a final investment decision (FID) on the LNG Canada project, which is located in British Columbia (B.C.), until late 2016. FID was originally meant to be taken by the partners of LNG Canada (Shell, PetroChina Co. Ltd, Korea Gas Corp., and Mitsubishi Corp.) in 1H16. This follows the recent news that Shell’s annual income has dropped.

Reuters reports that Shell’s CEO, Ben van Buerden, told shareholders: “We are postponing the final investment decision on LNG Canada right through the end of this year.”

Nevertheless, Reuters claims that the additional time will be used to further derisk the project, which is valued between CAN$25 billion and CAN$40 billion.

Edited from various sources by David Rowlands

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