Wednesday, August 3, 2016

Petronas said to be pondering Pacific NorthWest LNG delay

A story from yesterday's Wall Street Journal has added to the growing string of reports on the fate of the topic that has dominated the North Coast headlines over the last few years.

With the Journal exploring the theme that the Malaysian Energy Company Petronas is considering a delay when it comes to a final go ahead for its proposed LNG Terminal at Lelu island.

On Tuesday, the New York based financial paper noted concerns related to over supply, cheaper competing fuels, as well as lower oil and gas prices  as the main thrust to the prospect of a delay in their Canadian plans.

No indication was provided in Tuesday's overview as to how long any potential delay to the project would be.

You can review the Wall Street Journal article below:

Wall Street Journal -- Petronas May Delay Canadian LNG project

The American business paper article is the latest in a string of reports that suggest a delay may be in the cards for the much discussed North Coast project.

In July the Alaska Highway News reported that an industry observer in the British Columbia gas fields had suggested that Petronas would be holding off on any decision related to the project for at least a year.

The Pacific NorthWest LNG proposal is currently in the final stages of a CEAA process, with the Federal Government expected to announce its decision on the project in September or October.

Neither Pacific NorthWest LNG or its parent company Petronas have had much to say about the swirling rumours about the proposed development.

The next deadline to watch for any update from the Malaysian company is August 22nd when Petronas is scheduled to announce is second quarter results.

Items related to Tuesday's speculation on the fate of the proposed project can be found below:

Energetic City -- Another LNG blow: Petronas may delay project
The Edge Markets -- Petronas may delay Canadian LNG project

You can find more about the Pacific NorthWest project from our archive page here.

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