Petronas Kills Pacific NW, Dealing New Blow to Canada's LNG Hopes

摘要

Dealing another major blow to Canada's hopes for becoming an LNG exporter, Petronas has officially given up on the C$36 billion (US$28.8 billion) Pacific North West LNG export project planned for a site near Prince Rupert, British Columbia. The project "will not proceed," the Malaysian company said last week. "The decision was made after a careful and total review of the project amid changes in market conditions. We remain committed to developing our significant natural gas assets in Canada and will continue to explore all options as part of our long-term investment strategy moving forward.