The Annual Offshore Oil & Gas Event
logo

The 25thBeijing International Offshore Oil & Gas Exhibition

ufi

BEIJING,CHINA

March 26-28,2025

LOCATION :Home> News > Industry News

Petronas halts $29-billion western Canada LNG project

Pubdate:2017-07-26 14:20 Source:liyanping Click:

CALGARY (Reuters) -- Malaysian state-owned energy company Petronas will not proceed with a proposed C$36-billion ($28.8 billion) liquefied natural gas (LNG) project in western Canada because of weak global prices, the company said on Tuesday.

The cancellation is a heavy blow to Canada's ambitions to become a global LNG player and to the regional economy, although many industry observers said it was not unexpected given years of delay to the huge project near Prince Rupert in the north of the province.

It is also the latest setback for the country's energy industry, already bruised by international oil firms selling off around $23 billion in Canadian energy assets this year alone.

Pacific NorthWest LNG was meant to produce 12 megatonnes per year and spur further development of British Columbia's Montney natural gas play in the northeast of the province. Without demand from an LNG facility, low gas prices in the region are expected to persist, analysts said.

"The demise of the LNG industry in Western Canada means that Western Canadian gas will largely remain captive to the oversupplied North American market," BMO Capital Markets analyst Randy Ollenberger said in a note to clients.

Pacific Northwest LNG received approval from the Canadian government last year, but Petronas, which has been going through significant cost-cutting, delayed its final investment decision while reviewing the 190 conditions attached.

The Canadian project would have been Petronas' biggest foreign investment and was seen as a sign of Malaysia's global energy ambitions.

Of more than a dozen projects proposed for the west coast of British Columbia, only the C$1.6 billion privately held Woodfibre project has so far been given the green light by its developers.

Last July Royal Dutch Shell and partners pushed back a final investment decision on their proposed 24-megatonne LNG Canada project, citing global industry challenges.

British Columbia's energy minister, Michelle Mungall, said she will be calling other liquefied natural gas companies to "reassure" them that her government is ready to work with them.

The ruling New Democratic Party, which formally took power this month, governs through an accord with the environmentalist Green Party. Its rise has fueled uncertainty about energy development in the province.

A spokesman for Canada's Natural resources minister, Jim Carr, said Petronas' move was a business decision and the government would continue to support the energy sector.

Petronas and partners will continue to develop natural gas assets in Canada, Anuar Taib, chairman of the board of Pacific NorthWest LNG, said in a statement.

"We are disappointed that the extremely challenging environment brought about by the prolonged depressed prices and shifts in the energy industry have led us to this decision," Taib said.

 

主站蜘蛛池模板: 黄瓜视频入口在线播放| 五月婷婷丁香六月| 99精品视频在线观看免费专区| 经典国产一级毛片| 成人国产激情福利久久精品| 国产一区二区三区欧美| 久久免费的精品国产V∧| 黑人一区二区三区中文字幕| 樱桃视频影院在线播放| 国产欧美日韩综合精品一区二区 | 婷婷无套内射影院| 内射白浆一区二区在线观看| 一个人看的www片免费| 男人精品网站一区二区三区| 大乳丰满人妻中文字幕日本 | 高清国产一级毛片国语| 日本黄色小视频在线观看| 国产亚洲视频在线观看网址| 久久久久国产视频| 美女把腿扒开让男人桶免费| 少妇大叫太大太爽受不了| 伊人久久大香线蕉综合热线| 99爱在线视频这里只有精品| 欧美极品JIZZHD欧美| 国产精品9999久久久久| 久久精品午夜福利| 能在线观看的一区二区三区| 小兔子被蛇用两根是什么小说| 人妻人人澡人人添人人爽人人玩| 99久久综合给久久精品| 欧美人与性禽xxxx| 国产国语一级毛片在线放| 中文字幕日韩精品一区二区三区| 精品国产亚洲AV麻豆| 在线中文字幕日韩欧美| 亚洲不卡中文字幕无码| 青草视频免费看| 少妇人妻精品一区二区| 亚洲男女性高爱潮网站| 国产免费插插插| 拍拍拍又黄又爽无挡视频免费 |