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LNG Canada committed to starting construction on project in 2018

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LNG Industry,


Reuters are reporting that the CEO of the LNG Canada project on British Columbia's northern coast has said that the company was committed to starting construction on the C$40 billion LNG export project this year.

An investment decision on the terminal was delayed in 2016, due to sagging oil prices that hit cash flows, along with an unfavourable supply-demand outlook, but remains on track for 2018, Andy Calitz said at an LNG conference on 15 May.

“It didn’t make sense in July 2016,” he said. “When (our stakeholders) asked the inevitable question, when will you reconsider the FID? Our answer was: We will be in construction in 2018. I reaffirm that commitment today.”

LNG Canada is a joint venture between Royal Dutch Shell Plc , PetroChina Co Ltd, Mitsubishi Corp and Korea Gas Corp. TransCanada Corp will build the pipeline.

Read the article online at: https://www.lngindustry.com/liquefaction/16052018/lng-canada-committed-to-starting-construction-on-project-in-2018/

 

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