Monday, December 1, 2014

Waiting for Mr. Abbas to give an indication

Sometime today, Petronas Chief Executive Officer Shamsul Azhar Abbas is expected to meet with British Columbia Government officials in Vancouver.

Settling in for  talks designed to "tie up a few loose ends" as the CEO put things prior to his departure from Kuala Lumpur. A get together that finds the Petronas Chairman looking to review some of the still outstanding factors that will lead to the final investment decision that his company has said will be made sometime this month.

 As we outlined on the blog on Friday, the travel arrangements are the final leg of the process taking the North Coast towards that Final Investment Decision from the Malaysian energy giant.

An announcement set for mid to late December, that will give many in the region some idea as to whether the much anticipated Pacific NorthWest LNG project at Lelu Island will move from proposal, to active economic blue print.

Prior to his departure from Malaysia the Petronas CEO offered up a range of comments on the state of the energy industry at this time.

December 1-- Petronas to cut capes next year
November 30-- Further Correction potential seen
November 29-- It's survival of the fittest, says Shamsul
November 29-- Petronas payout to Malaysian govt to drop by 37%
November 28-- Petronas to meet Canadian officials to conclude LNG decision
November 28-- Petronas CEO to hold talks on B. C. LNG project
November 28-- Petronas CEO to meet with Canadian officials to conclude LNG investment

The Globe and Mail's Brent Jang continues to provide some of the research from his recent tour of the Northwest, with his latest item posted to the Globe and Mail highlighting the anticipation that the announcement later this month is providing for the Port Edward area.

You can review more on the Pacific NorthWest LNG proposal from our archive page here.

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