Multinational partners in an LNG Canada project, with its planned terminal in British Columbia, have put off indefinitely a final investment decision that was meant to be made at the end of this year, according to CTV News.
The investors – Shell, PetroChina, Mitsubishi Corporation and Kogas – cited concerns about instability in the energy markets for their delay. The drop in natural gas prices makes the project more expensive.
The LNG Canada project would have its terminal near Kitimat in northwestern BC and has already cleared several obstacles including regulatory and environmental approvals and the backing of First Nations (Canada’s name for native tribespeople).
In February, Shell announced a nine-month delay to making a final investment decision, postponing from the first quarter of this year to the last quarter.