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October 2018
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Wednesday, 03 October 2018 11:00

$31bn Canada LNG project gets go ahead

$31bn Canada LNG project gets go ahead

A major $31.9bn liquefied natural gas (LNG) project in Canada has received the go-ahead from its partners, Caspian Energy News (www.caspianenergy.net) reports with reference to BBC.

The project is a joint venture between Royal Dutch Shell, Malaysia's Petronas, PetroChina, Korea Gas Corporation, and Japan's Mitsubishi Corporation.

It is the single largest private sector investment project in Canada's history.

The project is expected to supply 26m tons of LNG exported annually to emerging Asian markets.

Canada is committing C$275m in federal support to the LNG Canada project for infrastructure and marine and environmental protection.

LNG Canada is the joint venture company representing the five partners. LNG Canada partners announced their positive final investment decision late on Monday.

The project is expected to have the lowest carbon intensity of any large LNG facility in the world, Canadian Prime Minister Justin Trudeau said.

The LNG facility will be built in Kitimat, a town in north-western British Columbia (BC).

Construction on the project is expected to begin this year, with a large-scale LNG export terminal in service by 2024.

More details: https://www.bbc.com/news/world-us-canada-45674267

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