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Shell's LNG Canada venture again delays export terminal decision

Published 2016-07-11, 09:17 p/m
© Reuters. Shell's LNG Canada venture again delays export terminal decision
SHEL
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July 11 (Reuters) - Royal Dutch Shell Plc RDSa.L and its
LNG Canada partners have once again pushed back the timing of a
decision on building a British Columbia liquefied natural gas
export (LNG) terminal, the latest setback for the Canadian
province's energy ambitions.
LNG Canada, whose participants also include PetroChina Co
Ltd 601857.SS , Mitsubishi Corporation 8058.T and Kogas,
cited global industry challenges, including capital constraints,
for requiring more time prior to making a final investment
decision.
The proposed project, which would be located on British
Columbia's rugged northern coastline, was one of the front
runners in a now slowing race to build Canada's first LNG export
terminal.
The venture had originally planned to make its final
investment decision in the first half of 2016. In February it
pushed the deadline to the end of the year.
In its statement on Monday, the group said they could not
confirm when the decision would be made.
Last month, Canada's environmental regulator said it resumed
its review of a separate Petronas-led LNG project. The agency
has three months to complete its review of that proposal, and
Canada's ruling Liberals have separately committed to announcing
their final decision by the end of September
LNG prices are sinking as demand for the super-chilled gas
slows and new supply from the United States, Australia and
Russia is set to hit the market through 2021.
Despite the near-term glut, Shell executives have said they
anticipate demand from China and other countries to increase
through the next decade.

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