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$40B LNG project in northern B.C. gets go-ahead

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Construction is going ahead on a massive, $40-billion liquefied natural gas project in northern B.C., hours after five primary investors from five different countries granted their approval for the joint venture.

The LNG Canada project will see a pipeline carrying natural gas from Dawson Creek in northeastern B.C. to a new processing plant on the coast in Kitimat. There, the gas would be liquefied for overseas export.

The partners came to their decision at 9:18 p.m. PT on Monday. They are:

  • Royal Dutch Shell.
  • Mitsubishi Corp.
  • The Malaysian-owned Petronas.
  • PetroChina Co.
  • Korean Gas Corp.

On Tuesday, LNG Canada CEO Andy Calitz said the company is “immediately, today, moving into construction” on the pipeline and plant.

He said project has already obtained all the necessary approvals to break ground, including from the National Energy Board, Department of Fisheries and Oceans, BC Hydro as well as 25 First Nations.

Prime Minister Justin Trudeau said the announcement represents the single largest private sector investment in Canadian history.

“Today is a good day,” he said Tuesday.

Read full article here.

Rhianna Schmunk – CBC News – Oct 02, 2018.

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