may finally be back on track, with the latest indication of some form of Federal decision now said to be in mid to late September.
However, those awaiting actual progress in construction for the much anticipated project may have much longer wait ahead.
According to a report out of British Columbia's northeastern gas fields, the Malaysian owned energy company Petronas, may wait for a full year from now, before it decides on its Final Investment plans.
Reporter Jonny Wakefield of the Alaska Highway News explained the prospect of further delay through an article on Tuesday, with President Dave Turchanski, the head of Energy Services BC providing the forecast of a possible delay at the organizations annual general meeting last month.
Wait for PNW LNG investment decision could drag into June 2017
In his comments it was suggested that the timeline could go even further into the future, with the earliest that Petronas may make a decision being June of 2017, with the second quarter of 2018 indicated as to when any progress on the project might finally be seen.
Energy Services BC is a not for profit organization that advocates for the oil, gas and energy sector in the province. Representatives of Pacific NorthWest LNG had no update of their own for the article when it comes to any timeline for the project.
Pacific NorthWest gave conditional approval for the Lelu Island terminal project one year ago, but since that time regulatory delays and changing global economic conditions have provided for much of the background story for the LNG development.
The most recent item suggesting a delay in final approval is not the first in recent weeks, in June Business in Vancouver noted that the proposed development would likely be postponed, with energy demand indicated as one of the factors in the industry outlook.
More background on items related to the Pacific NorthWest LNG project can be found on our archive page here.
Post a Comment